Asset Management One Co. Ltd. Takes $4.14 Million Position in Stamps.com Inc. (STMP)
Asset Management One Co. Ltd. acquired a new stake in Stamps.com Inc. (NASDAQ:STMP) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 20,705 shares of the software maker’s stock, valued at approximately $4,144,000. Asset Management One Co. Ltd. owned approximately 0.12% of Stamps.com at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of STMP. Newbrook Capital Advisors LP bought a new stake in Stamps.com in the 2nd quarter valued at $39,979,000. Calixto Global Investors LP lifted its position in Stamps.com by 111.5% in the 2nd quarter. Calixto Global Investors LP now owns 379,168 shares of the software maker’s stock valued at $58,724,000 after acquiring an additional 199,869 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in Stamps.com in the 2nd quarter valued at $21,793,000. DSAM Partners London Ltd bought a new stake in Stamps.com in the 2nd quarter valued at $20,876,000. Finally, Light Street Capital Management LLC lifted its position in Stamps.com by 55.3% in the 2nd quarter. Light Street Capital Management LLC now owns 365,000 shares of the software maker’s stock valued at $56,529,000 after acquiring an additional 130,000 shares in the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.
STMP has been the topic of several recent research reports. ValuEngine upgraded shares of Stamps.com from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Stamps.com from a “hold” rating to a “strong-buy” rating and set a $222.00 price target on the stock in a research note on Tuesday, August 29th. Roth Capital lifted their price target on shares of Stamps.com from $203.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, October 30th. B. Riley set a $250.00 price target on shares of Stamps.com and gave the company a “buy” rating in a research note on Thursday, October 5th. Finally, Craig Hallum set a $230.00 price target on shares of Stamps.com and gave the company a “buy” rating in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Stamps.com currently has a consensus rating of “Buy” and an average price target of $217.71.
Shares of Stamps.com Inc. (STMP) opened at $184.05 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.80 and a quick ratio of 2.80. Stamps.com Inc. has a 52 week low of $100.55 and a 52 week high of $233.13. The stock has a market cap of $3,132.20, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 1.62 and a beta of -0.06.
Stamps.com declared that its board has authorized a stock repurchase program on Thursday, November 2nd that permits the company to buyback $90.00 million in outstanding shares. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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Stamps.com Inc is a provider of Internet-based mailing and shipping solutions in the United States. The Company offers mailing and shipping products and services to its customers under the Stamps.com, Endicia, ShipStation, ShipWorks and ShippingEasy brands. It operates through the Internet Mailing and Shipping Services segment.
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