Principal Financial Group Inc. boosted its position in shares of Stamps.com Inc. (NASDAQ:STMP) by 7.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,354 shares of the company’s stock after buying an additional 7,878 shares during the period. Principal Financial Group Inc. owned 0.66% of Stamps.com worth $9,997,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D bought a new stake in shares of Stamps.com during the second quarter worth about $24,477,000. Columbus Circle Investors increased its stake in shares of Stamps.com by 51.7% in the second quarter. Columbus Circle Investors now owns 441,618 shares of the company’s stock worth $38,606,000 after buying an additional 150,419 shares during the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of Stamps.com during the second quarter worth about $11,417,000. Northpointe Capital LLC bought a new stake in shares of Stamps.com during the second quarter worth about $11,211,000. Finally, Glenmede Trust Co. NA increased its stake in shares of Stamps.com by 50.5% in the second quarter. Glenmede Trust Co. NA now owns 341,584 shares of the company’s stock worth $29,860,000 after buying an additional 114,632 shares during the last quarter. Institutional investors and hedge funds own 97.07% of the company’s stock.
Stamps.com Inc. (NASDAQ:STMP) opened at 93.87 on Friday. The stock has a market cap of $1.62 billion, a P/E ratio of 47.53 and a beta of 1.10. The company has a 50 day moving average of $94.00 and a 200-day moving average of $88.88. Stamps.com Inc. has a 12-month low of $68.82 and a 12-month high of $123.75.
Stamps.com (NASDAQ:STMP) last announced its earnings results on Thursday, July 28th. The company reported $1.94 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.68. The business earned $84.01 million during the quarter, compared to the consensus estimate of $73.49 million. Stamps.com had a net margin of 12.09% and a return on equity of 27.94%. The firm’s revenue was up 73.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. Equities analysts forecast that Stamps.com Inc. will post $7.11 earnings per share for the current year.
A number of brokerages have recently issued reports on STMP. Zacks Investment Research downgraded shares of Stamps.com from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 29th. B. Riley reaffirmed a “buy” rating and set a $160.00 price target on shares of Stamps.com in a report on Tuesday, September 20th. Roth Capital reaffirmed a “buy” rating and set a $96.00 price target on shares of Stamps.com in a report on Thursday, July 28th. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Stamps.com in a report on Tuesday, July 12th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $110.67.
In other Stamps.com news, insider James Bortnak sold 5,000 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $78.99, for a total value of $394,950.00. Following the completion of the transaction, the insider now directly owns 6,093 shares in the company, valued at $481,286.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.46% of the stock is currently owned by company insiders.
Stamps.com Company Profile
Stamps.com Inc is a provider of Internet-based mailing and shipping solutions. The Company operates through the Internet Mailing and Shipping Services segment. Under the Stamps.com and Endicia branded solutions, the Company’s customers use its service to mail and ship a range of mail pieces, including postcards, envelopes, flats and packages, using a range of United States Postal Service (USPS) mail classes, including First Class Mail, Priority Mail, Priority Mail Express, Media Mail, and Parcel Select, and among others.
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