Stamps.com Inc. (STMP) Holdings Boosted by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System boosted its holdings in Stamps.com Inc. (NASDAQ:STMP) by 19.4% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,015 shares of the software maker’s stock after buying an additional 1,630 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Stamps.com were worth $2,534,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of STMP. Signaturefd LLC purchased a new position in Stamps.com in the 1st quarter worth about $105,000. Sei Investments Co. increased its position in shares of Stamps.com by 196.5% during the 1st quarter. Sei Investments Co. now owns 590 shares of the software maker’s stock valued at $119,000 after purchasing an additional 391 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Stamps.com during the 1st quarter valued at about $123,000. NewSquare Capital LLC purchased a new stake in shares of Stamps.com during the 2nd quarter valued at about $185,000. Finally, Meridian Wealth Management LLC purchased a new stake in shares of Stamps.com during the 1st quarter valued at about $201,000. 92.86% of the stock is owned by institutional investors and hedge funds.
STMP has been the subject of several research reports. B. Riley upped their price target on shares of Stamps.com to $300.00 and gave the company a “buy” rating in a research report on Friday, May 4th. Craig Hallum reaffirmed a “buy” rating and set a $260.00 price target (up previously from $240.00) on shares of Stamps.com in a research report on Friday, May 4th. They noted that the move was a valuation call. Maxim Group initiated coverage on shares of Stamps.com in a research report on Thursday, May 31st. They set a “buy” rating and a $320.00 price target for the company. Singular Research reaffirmed a “buy” rating and set a $93.00 price target on shares of Stamps.com in a research report on Tuesday, June 19th. Finally, Roth Capital upped their price target on shares of Stamps.com from $255.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $252.00.
Stamps.com (NASDAQ:STMP) last released its quarterly earnings results on Wednesday, August 1st. The software maker reported $2.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.58. The firm had revenue of $139.63 million during the quarter, compared to analyst estimates of $133.49 million. Stamps.com had a net margin of 34.37% and a return on equity of 39.85%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 EPS. sell-side analysts forecast that Stamps.com Inc. will post 9.07 EPS for the current fiscal year.
In related news, CMO Sebastian Buerba sold 17,777 shares of the business’s stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $266.77, for a total transaction of $4,742,370.29. Following the completion of the transaction, the chief marketing officer now directly owns 2,386 shares in the company, valued at approximately $636,513.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mohan P. Ananda sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $270.00, for a total value of $5,400,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,577 shares of company stock valued at $20,112,045. 6.17% of the stock is currently owned by corporate insiders.
Stamps.com Company Profile
Stamps.com Inc provides Internet-based mailing and shipping solutions in the United States. The company offers mailing and shipping solutions to mail and ship various mail pieces and packages through the United States Postal Service (USPS) under the Stamps.com and Endicia brands. Its solutions support various USPS mail classes, including First Class Mail, Priority Mail, Priority Mail Express, Media Mail, Parcel Select, and others.
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