Bank of America Corp DE increased its position in Stamps.com Inc. (NASDAQ:STMP) by 20.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,162 shares of the software maker’s stock after buying an additional 11,967 shares during the period. Bank of America Corp DE owned approximately 0.41% of Stamps.com worth $8,185,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. acquired a new position in Stamps.com during the first quarter valued at approximately $104,000. TrimTabs Asset Management LLC increased its stake in shares of Stamps.com by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 1,071 shares of the software maker’s stock valued at $127,000 after buying an additional 504 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Stamps.com by 83.1% in the first quarter. LS Investment Advisors LLC now owns 1,093 shares of the software maker’s stock valued at $129,000 after buying an additional 496 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Stamps.com by 13.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,287 shares of the software maker’s stock valued at $152,000 after buying an additional 154 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Stamps.com during the first quarter valued at about $160,000.
Shares of Stamps.com Inc. (NASDAQ STMP) traded up 0.72% during mid-day trading on Friday, hitting $210.35. 324,202 shares of the company were exchanged. The firm has a market capitalization of $3.56 billion, a P/E ratio of 34.02 and a beta of 0.01. Stamps.com Inc. has a 12-month low of $84.87 and a 12-month high of $220.25. The company’s 50-day moving average price is $169.40 and its 200-day moving average price is $136.52.
Stamps.com (NASDAQ:STMP) last released its earnings results on Wednesday, August 2nd. The software maker reported $1.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.36. The firm had revenue of $116.14 million for the quarter, compared to the consensus estimate of $99.29 million. Stamps.com had a net margin of 26.66% and a return on equity of 34.46%. The company’s revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 EPS. Equities research analysts predict that Stamps.com Inc. will post $8.05 earnings per share for the current fiscal year.
Stamps.com announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 3rd that permits the company to buyback $90.00 million in outstanding shares. This buyback authorization permits the software maker to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Several research firms recently weighed in on STMP. Roth Capital reiterated a “buy” rating and issued a $166.00 target price on shares of Stamps.com in a research note on Wednesday, May 31st. ValuEngine upgraded shares of Stamps.com from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded shares of Stamps.com from a “hold” rating to a “buy” rating and set a $166.00 price target for the company in a research note on Friday, June 23rd. Craig Hallum restated a “buy” rating and set a $210.00 price target (up previously from $170.00) on shares of Stamps.com in a research note on Thursday, August 3rd. Finally, Sidoti restated a “buy” rating and set a $182.00 price target on shares of Stamps.com in a research note on Thursday, July 6th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $192.67.
In other news, Director Mohan P. Ananda sold 40,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $208.81, for a total value of $8,352,400.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director G Bradford Jones sold 27,000 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $208.73, for a total transaction of $5,635,710.00. Following the completion of the sale, the director now directly owns 64,486 shares in the company, valued at $13,460,162.78. The disclosure for this sale can be found here. Insiders sold a total of 157,600 shares of company stock worth $28,417,570 over the last ninety days. Insiders own 11.46% of the company’s stock.
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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