Jacobi Capital Management LLC Invests $53,000 in Poshmark, Inc. (NASDAQ:POSH)

Jacobi Capital Management LLC acquired a new stake in Poshmark, Inc. (NASDAQ:POSH) in the 1st quarter, Holdings Channel reports. The fund acquired 1,305 shares of the clothing resale marketplace’s stock, valued at approximately $53,000.

A number of other hedge funds also recently added to or reduced their stakes in POSH. Avidian Wealth Solutions LLC purchased a new position in Poshmark in the 1st quarter worth $357,000. SherpaCapital LLC purchased a new position in shares of Poshmark in the first quarter worth about $1,484,000. Finally, BlackRock Inc. acquired a new stake in shares of Poshmark during the first quarter worth about $5,559,000. Institutional investors own 7.66% of the company’s stock.

In related news, COO John Michael Mcdonald sold 17,514 shares of the stock in a transaction on Tuesday, April 6th. The stock was sold at an average price of $42.28, for a total value of $740,491.92. Following the completion of the transaction, the chief operating officer now directly owns 17,514 shares of the company’s stock, valued at approximately $740,491.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Anan Kashyap sold 21,588 shares of the firm’s stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $42.28, for a total value of $912,740.64. Following the completion of the transaction, the chief financial officer now owns 21,588 shares in the company, valued at approximately $912,740.64. The disclosure for this sale can be found here. Insiders sold a total of 50,755 shares of company stock worth $2,145,921 over the last ninety days.

POSH has been the subject of several research reports. JMP Securities decreased their price objective on shares of Poshmark from $85.00 to $57.00 and set a “market outperform” rating for the company in a research note on Monday, May 17th. MKM Partners decreased their target price on shares of Poshmark from $83.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, May 13th. Cowen cut their price target on Poshmark from $88.00 to $70.00 and set an “outperform” rating on the stock in a research report on Friday, March 12th. Raymond James decreased their price objective on Poshmark from $68.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, May 13th. Finally, Zacks Investment Research raised Poshmark from a “sell” rating to a “hold” rating in a report on Tuesday, May 18th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Poshmark presently has a consensus rating of “Buy” and an average price target of $60.88.

Poshmark stock opened at $45.03 on Friday. The stock has a market capitalization of $3.41 billion and a PE ratio of 36.02. The firm has a 50 day simple moving average of $42.27. Poshmark, Inc. has a 12 month low of $33.23 and a 12 month high of $104.98.

Poshmark (NASDAQ:POSH) last posted its quarterly earnings data on Wednesday, May 12th. The clothing resale marketplace reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.08. The company had revenue of $80.96 million for the quarter, compared to analyst estimates of $76.97 million. During the same quarter in the prior year, the company posted ($0.88) earnings per share. The business’s revenue was up 41.8% on a year-over-year basis. As a group, equities analysts predict that Poshmark, Inc. will post -0.62 earnings per share for the current fiscal year.

Poshmark Profile

Poshmark, Inc operates as a social marketplace for new and secondhand style products in the United States, Canada, and Australia. The company offers apparel, footwear, home, beauty, and pet products, as well as accessories. As of December 31, 2020, it had 6.5 million active buyers. The company was formerly known as GoshPosh, Inc and changed its name to Poshmark, Inc in 2011.

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Institutional Ownership by Quarter for Poshmark (NASDAQ:POSH)

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