ZipRecruiter’s Chief Technology Officer sells over $118,000 worth of shares, according to Investing.com

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ZipRecruiter’s Chief Technology Officer sells over 8,000 worth of shares, according to Investing.com

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Boris F. Shimanovsky, executive vice president and chief technology officer of ZipRecruiter Inc. (NYSE: ZIP), has recently engaged in several transactions involving the company’s stock, according to latest SEC filings. On March 15, Shimanovsky sold 9,800 shares of Class A common stock at prices ranging from $12.00 to $12.36, with the total transaction amounting to approximately $118,848.

In addition to the sale, the documents also show that Shimanovsky acquired 24,598 shares at no cost and converted 34,375 shares of Class B common stock into shares of Class A common stock, also at zero cost. It should be noted that these acquisitions did not involve any direct financial expenditure for the manager.

Additionally, Shimanovsky disposed of 20,743 shares at a price of $12.55 per share to cover withholding taxes associated with vesting restricted stock units (RSUs). This transaction, which is exempt under section 16b-3(e), amounts to approximately $260,324. PSUs are a form of compensation that grants the holder the right to receive shares upon vesting and often involve tax obligations that are satisfied by giving up a portion of the shares acquired.

Investors might be interested in the trading plan under which these transactions took place. According to a footnote in the SEC filing, the sales were executed pursuant to a Rule 10b5-1 trading plan adopted by Shimanovsky on December 15, 2023. Such plans allow company insiders to to sell shares over a predetermined period of time, thereby reducing risk. possibility of accusations of transactions based on inside information.

The transactions resulted in a change in Shimanovsky’s holdings, which now include an increased number of Class A shares, as well as a reduced number of RSUs. These movements are part of the normal course of shareholding and executive remuneration of companies listed on the stock exchange.

ZipRecruiter, a company that operates in the computer programming and data processing industry, has not commented on these transactions. The company, based in Santa Monica, California, continues to be a significant player in the online job market.

InvestingPro Insights

Amid recent stock trading by Boris F. Shimanovsky, Executive Vice President and Chief Technology Officer of ZipRecruiter Inc. (NYSE: ZIP), investors can gain additional insight by considering key indicators and InvestingPro tips . The company, with a market capitalization of approximately $1.15 billion, has demonstrated remarkable financial performance and management actions.

An InvestingPro tip points out that management has been repurchasing shares aggressively, which can signal confidence in the company’s prospects and potentially support the stock price. Additionally, ZipRecruiter has been operating with a high gross profit margin of around 90.04% over the trailing twelve months to Q1 2023, suggesting strong profitability in its core operations.

InvestingPro Data further shows a price-to-earnings (P/E) ratio of 23.86 and an adjusted P/E ratio for the same period of 22.23. While the company’s revenues saw a decline of 28.62% over the last twelve months, the impressive gross profit margins may indicate an efficient cost structure or strong pricing power within its segment. walk.

However, it is important to note that analysts have revised their earnings downward for the coming period and a decline in sales is expected for the current year. This could be a concern for potential investors. Additionally, the stock has not performed well over the past month, with a 1-month total return of -18.92%.

For those who want to deepen their financial knowledge and strategic analysis from ZipRecruiter, additional InvestingPro advice is available. These include information on shareholder returns, the company’s debt levels and its valuation in terms of price-to-book multiple. To access this information and more, visit https://www.investing.com/pro/ZIP. Plus, use promo code PRONEWS24 to benefit from an additional 10% reduction on an annual or biannual Pro and Pro+ subscription on InvestProwhere 11 additional tips await you to guide your investment decisions.

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