Arizona State Retirement System Has $1,269,000 Stake in Stamps.com Inc. (STMP)
Arizona State Retirement System held its position in shares of Stamps.com Inc. (NASDAQ:STMP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,191 shares of the software maker’s stock at the end of the second quarter. Arizona State Retirement System’s holdings in Stamps.com were worth $1,269,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in STMP. Norges Bank purchased a new stake in Stamps.com during the fourth quarter valued at $2,239,000. Creative Planning increased its stake in Stamps.com by 360.4% in the first quarter. Creative Planning now owns 1,533 shares of the software maker’s stock valued at $181,000 after buying an additional 1,200 shares during the last quarter. Fisher Asset Management LLC increased its stake in Stamps.com by 51.9% in the first quarter. Fisher Asset Management LLC now owns 24,936 shares of the software maker’s stock valued at $2,951,000 after buying an additional 8,522 shares during the last quarter. Strs Ohio purchased a new stake in Stamps.com during the first quarter valued at $12,130,000. Finally, Russell Investments Group Ltd. increased its stake in Stamps.com by 3.7% in the first quarter. Russell Investments Group Ltd. now owns 59,795 shares of the software maker’s stock valued at $7,076,000 after buying an additional 2,127 shares during the last quarter.
Stamps.com Inc. (STMP) opened at 193.00 on Monday. The firm has a market cap of $3.26 billion, a PE ratio of 31.21 and a beta of 0.01. The company has a 50-day moving average price of $176.48 and a 200-day moving average price of $139.36. Stamps.com Inc. has a 12-month low of $84.87 and a 12-month high of $220.25.
Stamps.com (NASDAQ:STMP) last posted its quarterly earnings data on Wednesday, August 2nd. The software maker reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.36. The business had revenue of $116.14 million during the quarter, compared to analysts’ expectations of $99.29 million. Stamps.com had a net margin of 26.66% and a return on equity of 34.46%. The business’s revenue was up 38.2% on a year-over-year basis. During the same period last year, the firm posted $1.94 earnings per share. On average, equities analysts predict that Stamps.com Inc. will post $8.05 earnings per share for the current year.
Stamps.com announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 3rd that permits the company to repurchase $90.00 million in shares. This repurchase authorization permits the software maker to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
Several analysts have weighed in on STMP shares. B. Riley reiterated a “buy” rating and set a $210.00 price target on shares of Stamps.com in a research note on Tuesday, May 2nd. Zacks Investment Research upgraded Stamps.com from a “hold” rating to a “strong-buy” rating and set a $119.00 price target on the stock in a research note on Wednesday, May 10th. ValuEngine downgraded Stamps.com from a “buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Finally, Roth Capital restated a “buy” rating and issued a $166.00 target price on shares of Stamps.com in a research note on Wednesday, May 31st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Stamps.com has a consensus rating of “Buy” and a consensus price target of $196.00.
In related news, insider Seth Weisberg sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $150.15, for a total transaction of $750,750.00. Following the completion of the sale, the insider now directly owns 27,572 shares in the company, valued at $4,139,935.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Amine Khechfe sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $137.85, for a total transaction of $165,420.00. Following the sale, the insider now owns 1,372 shares of the company’s stock, valued at $189,130.20. The disclosure for this sale can be found here. Insiders have sold 149,600 shares of company stock valued at $27,383,960 over the last 90 days. 11.08% of the stock is currently owned by insiders.
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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