Stamps.com Inc. (STMP) Holdings Decreased by BlackRock Inc.
BlackRock Inc. lowered its holdings in Stamps.com Inc. (NASDAQ:STMP) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,859,538 shares of the software maker’s stock after selling 20,937 shares during the period. BlackRock Inc. owned approximately 10.98% of Stamps.com worth $287,996,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Riverhead Capital Management LLC boosted its position in shares of Stamps.com by 66.5% during the 2nd quarter. Riverhead Capital Management LLC now owns 666 shares of the software maker’s stock valued at $103,000 after acquiring an additional 266 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Stamps.com in the first quarter worth approximately $104,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Stamps.com by 11.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 883 shares of the software maker’s stock worth $137,000 after purchasing an additional 92 shares during the last quarter. Bank of Montreal Can increased its position in shares of Stamps.com by 1.6% in the second quarter. Bank of Montreal Can now owns 1,074 shares of the software maker’s stock worth $167,000 after purchasing an additional 17 shares during the last quarter. Finally, Turner Investments LLC bought a new position in shares of Stamps.com in the second quarter worth approximately $194,000.
In other Stamps.com news, insider James Bortnak sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $151.37, for a total transaction of $605,480.00. Following the completion of the transaction, the insider now owns 5,985 shares in the company, valued at approximately $905,949.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Amine Khechfe sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $149.05, for a total value of $178,860.00. Following the transaction, the insider now owns 242 shares of the company’s stock, valued at approximately $36,070.10. The disclosure for this sale can be found here. Insiders sold 450,763 shares of company stock worth $89,049,164 over the last ninety days. Insiders own 11.08% of the company’s stock.
Several equities research analysts have issued reports on STMP shares. Zacks Investment Research lowered shares of Stamps.com from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Sidoti reissued a “buy” rating and issued a $182.00 price target on shares of Stamps.com in a research note on Thursday, July 6th. B. Riley reissued a “buy” rating and issued a $250.00 price target on shares of Stamps.com in a report on Thursday, August 3rd. Craig Hallum reissued a “buy” rating and issued a $210.00 price target (up previously from $170.00) on shares of Stamps.com in a report on Thursday, August 3rd. Finally, Roth Capital raised their price objective on shares of Stamps.com from $166.00 to $203.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $204.57.
Shares of Stamps.com Inc. (NASDAQ:STMP) opened at 211.60 on Tuesday. The company has a market cap of $3.58 billion, a P/E ratio of 34.22 and a beta of -0.04. The company has a 50-day moving average price of $201.30 and a 200-day moving average price of $152.30. Stamps.com Inc. has a 52-week low of $89.26 and a 52-week high of $220.25.
Stamps.com (NASDAQ:STMP) last released its quarterly earnings data on Wednesday, August 2nd. The software maker reported $1.69 EPS for the quarter, beating the consensus estimate of $1.33 by $0.36. Stamps.com had a net margin of 26.66% and a return on equity of 34.46%. The business had revenue of $116.14 million during the quarter, compared to the consensus estimate of $99.29 million. During the same quarter in the prior year, the firm earned $1.94 EPS. The business’s revenue was up 38.2% on a year-over-year basis. On average, equities analysts predict that Stamps.com Inc. will post $8.05 EPS for the current year.
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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