Stamps.com Inc. (STMP) Shares Bought by Fred Alger Management Inc.
Fred Alger Management Inc. increased its holdings in shares of Stamps.com Inc. (NASDAQ:STMP) by 7.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 414,728 shares of the software maker’s stock after buying an additional 27,541 shares during the quarter. Fred Alger Management Inc. owned 2.45% of Stamps.com worth $64,231,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Riverhead Capital Management LLC lifted its stake in Stamps.com by 66.5% in the second quarter. Riverhead Capital Management LLC now owns 666 shares of the software maker’s stock valued at $103,000 after buying an additional 266 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Stamps.com in the first quarter valued at approximately $104,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings 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 valued at $137,000 after buying an additional 92 shares during the period. Quantbot Technologies LP acquired a new position in shares of Stamps.com in the first quarter valued at approximately $160,000. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of Stamps.com in the first quarter valued at approximately $165,000.
In other Stamps.com news, insider James Bortnak sold 4,000 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $151.37, for a total value of $605,480.00. Following the transaction, the insider now owns 5,985 shares in the company, valued at $905,949.45. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Michael John Biswas sold 27,092 shares of the stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $210.46, for a total value of $5,701,782.32. Following the completion of the transaction, the chief technology officer now owns 4,622 shares in the company, valued at approximately $972,746.12. The disclosure for this sale can be found here. Insiders sold a total of 450,763 shares of company stock valued at $89,049,164 over the last ninety days. 11.08% of the stock is currently owned by corporate insiders.
STMP has been the subject of several research reports. B. Riley reissued a “buy” rating and set a $250.00 price objective on shares of Stamps.com in a research report on Thursday, August 3rd. ValuEngine lowered shares of Stamps.com from a “buy” rating to a “hold” rating in a report on Monday. Craig Hallum reaffirmed a “buy” rating and issued a $210.00 price objective (up from $170.00) on shares of Stamps.com in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of Stamps.com from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Sidoti reaffirmed a “buy” rating and issued a $182.00 target price on shares of Stamps.com in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $204.57.
Stamps.com Inc. (NASDAQ STMP) traded up 1.53% during trading on Wednesday, reaching $219.05. The company’s stock had a trading volume of 78,174 shares. Stamps.com Inc. has a 12 month low of $89.26 and a 12 month high of $220.25. The company’s 50-day moving average is $201.45 and its 200-day moving average is $152.93. The stock has a market cap of $3.70 billion, a PE ratio of 35.43 and a beta of -0.04.
Stamps.com (NASDAQ:STMP) last released its quarterly earnings data on Wednesday, August 2nd. The software maker reported $1.69 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.36. The company had revenue of $116.14 million for the quarter, compared to analysts’ expectations of $99.29 million. Stamps.com had a net margin of 26.66% and a return on equity of 34.46%. The business’s revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.94 EPS. Equities analysts expect that Stamps.com Inc. will post $8.05 EPS for the current fiscal year.
Stamps.com Company Profile
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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