Alliancebernstein L.P. increased its position in Stamps.com Inc. (NASDAQ:STMP) by 24.4% in the third quarter, Holdings Channel reports. The institutional investor owned 50,306 shares of the software maker’s stock after acquiring an additional 9,870 shares during the period. Alliancebernstein L.P.’s holdings in Stamps.com were worth $11,379,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in Stamps.com by 11.3% in the second quarter. BlackRock Inc. now owns 2,518,796 shares of the software maker’s stock valued at $637,381,000 after purchasing an additional 255,512 shares during the period. Morgan Stanley grew its holdings in Stamps.com by 446.0% in the second quarter. Morgan Stanley now owns 495,645 shares of the software maker’s stock valued at $125,424,000 after purchasing an additional 404,861 shares during the period. Conestoga Capital Advisors LLC grew its holdings in Stamps.com by 16.1% in the third quarter. Conestoga Capital Advisors LLC now owns 383,078 shares of the software maker’s stock valued at $86,652,000 after purchasing an additional 53,051 shares during the period. Renaissance Technologies LLC grew its holdings in Stamps.com by 69.8% in the second quarter. Renaissance Technologies LLC now owns 357,600 shares of the software maker’s stock valued at $90,491,000 after purchasing an additional 147,000 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Stamps.com by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 287,073 shares of the software maker’s stock valued at $72,645,000 after purchasing an additional 1,095 shares during the period. 93.73% of the stock is owned by institutional investors and hedge funds.
Stamps.com stock opened at $171.71 on Friday. Stamps.com Inc. has a 1 year low of $145.78 and a 1 year high of $285.74. The company has a market capitalization of $2.96 billion, a P/E ratio of 17.34, a P/E/G ratio of 1.11 and a beta of 0.20. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.08.
Stamps.com (NASDAQ:STMP) last released its quarterly earnings data on Wednesday, October 31st. The software maker reported $2.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.38. Stamps.com had a net margin of 30.26% and a return on equity of 35.93%. The company had revenue of $143.51 million during the quarter, compared to the consensus estimate of $135.00 million. During the same period in the previous year, the firm earned $2.68 earnings per share. Stamps.com’s revenue for the quarter was up 24.7% on a year-over-year basis. On average, research analysts predict that Stamps.com Inc. will post 9.79 earnings per share for the current year.
In other Stamps.com news, CMO Sebastian Buerba sold 2,501 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $222.49, for a total transaction of $556,447.49. Following the completion of the sale, the chief marketing officer now directly owns 720 shares in the company, valued at $160,192.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Amine Khechfe sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $226.66, for a total transaction of $271,992.00. Following the sale, the insider now owns 1,541 shares of the company’s stock, valued at $349,283.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,901 shares of company stock valued at $1,051,927. 6.17% of the stock is owned by insiders.
A number of equities research analysts recently issued reports on the stock. B. Riley set a $300.00 target price on shares of Stamps.com and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research downgraded shares of Stamps.com from a “strong-buy” rating to a “hold” rating and set a $180.00 target price for the company. in a report on Friday, November 16th. BidaskClub downgraded shares of Stamps.com from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 6th. ValuEngine downgraded shares of Stamps.com from a “hold” rating to a “sell” rating in a report on Thursday, November 1st. Finally, Craig Hallum lowered their target price on shares of Stamps.com from $300.00 to $265.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $246.86.
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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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