ZipRecruiter (NYSE:ZIP) Shares Cross Above 200 Day Moving Average – Here’s Why

ZipRecruiter, Inc. (NYSE:ZIP)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.13 and traded as high as $3.67. ZipRecruiter shares last traded at $3.1150, with a volume of 503,328 shares changing hands.

Analyst Upgrades and Downgrades

ZIP has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on shares of ZipRecruiter from $3.00 to $3.50 and gave the company a “neutral” rating in a report on Monday, May 11th. Weiss Ratings initiated coverage on shares of ZipRecruiter in a report on Tuesday, April 7th. They issued a “sell (e+)” rating for the company. UBS Group raised their price target on shares of ZipRecruiter from $2.50 to $3.50 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Barclays cut their price target on shares of ZipRecruiter from $5.00 to $3.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ZipRecruiter has an average rating of “Reduce” and a consensus target price of $3.75.

ZipRecruiter Stock Performance

The company’s 50-day moving average price is $2.81 and its two-hundred day moving average price is $3.13. The stock has a market cap of $262.94 million, a PE ratio of -11.12 and a beta of 1.49.

ZipRecruiter (NYSE:ZIP) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.09. The company had revenue of $107.55 million for the quarter. Equities research analysts forecast that ZipRecruiter, Inc. will post -0.05 earnings per share for the current fiscal year.

Insider Buying and Selling at ZipRecruiter

In other news, CFO David Travers sold 23,656 shares of the firm’s stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $2.53, for a total transaction of $59,849.68. Following the sale, the chief financial officer owned 1,239,307 shares in the company, valued at approximately $3,135,446.71. This trade represents a 1.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ian H. Siegel sold 9,722 shares of the firm’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $3.23, for a total transaction of $31,402.06. Following the sale, the chief executive officer owned 111,152 shares in the company, valued at approximately $359,020.96. This trade represents a 8.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 117,549 shares of company stock worth $302,115. Corporate insiders own 19.85% of the company’s stock.

Institutional Trading of ZipRecruiter

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS Group AG raised its position in shares of ZipRecruiter by 197.4% during the 4th quarter. UBS Group AG now owns 645,157 shares of the company’s stock valued at $2,516,000 after buying an additional 428,232 shares in the last quarter. Evoke Wealth LLC purchased a new stake in shares of ZipRecruiter during the 4th quarter valued at $40,000. CWM LLC raised its position in shares of ZipRecruiter by 84.1% during the 4th quarter. CWM LLC now owns 30,280 shares of the company’s stock valued at $118,000 after buying an additional 13,828 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of ZipRecruiter during the 3rd quarter valued at $336,000. Finally, SG Americas Securities LLC purchased a new position in ZipRecruiter in the 4th quarter worth $169,000. Hedge funds and other institutional investors own 70.55% of the company’s stock.

About ZipRecruiter

ZipRecruiter, Inc operates an online employment marketplace that connects job seekers and employers. Its platform provides various solutions, such as job posting, online interviews, job alerts, match scores, and application updates. The company was incorporated in 2010 and is based in Santa Monica, California.