Jeff Loebbaka Sells 1,334 Shares of Plantronics Inc (PLT) Stock
Plantronics Inc (NYSE:PLT) insider Jeff Loebbaka sold 1,334 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $44.03, for a total transaction of $58,736.02. Following the sale, the insider now owns 39,292 shares in the company, valued at $1,730,026.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of PLT stock traded up $1.28 during trading hours on Wednesday, reaching $47.14. 363,807 shares of the stock were exchanged, compared to its average volume of 441,839. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.14 and a current ratio of 1.48. Plantronics Inc has a 12-month low of $30.90 and a 12-month high of $82.28. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of 11.79 and a beta of 1.52.
Plantronics (NYSE:PLT) last released its earnings results on Tuesday, May 7th. The technology company reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.22. Plantronics had a negative net margin of 8.10% and a positive return on equity of 19.98%. The firm had revenue of $488.00 million for the quarter, compared to analyst estimates of $481.43 million. During the same period in the prior year, the firm earned $1.05 earnings per share. The business’s quarterly revenue was up 125.9% compared to the same quarter last year. Equities analysts forecast that Plantronics Inc will post 5.06 EPS for the current fiscal year.
PLT has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Plantronics from a “hold” rating to a “buy” rating and set a $45.00 price target on the stock in a research note on Thursday, February 7th. Northland Securities restated a “buy” rating and set a $85.00 target price on shares of Plantronics in a research note on Thursday, March 21st. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $65.00.
Several hedge funds have recently added to or reduced their stakes in the stock. SEI Investments Co increased its stake in shares of Plantronics by 31,569.0% during the first quarter. SEI Investments Co now owns 13,301 shares of the technology company’s stock worth $613,000 after buying an additional 13,259 shares during the period. Oxford Asset Management LLP purchased a new stake in shares of Plantronics during the first quarter worth approximately $750,000. Hsbc Holdings PLC purchased a new stake in shares of Plantronics during the first quarter worth approximately $262,000. Wellington Management Group LLP increased its stake in shares of Plantronics by 5.4% during the first quarter. Wellington Management Group LLP now owns 61,580 shares of the technology company’s stock worth $2,840,000 after buying an additional 3,128 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in Plantronics in the first quarter valued at approximately $1,624,000. Hedge funds and other institutional investors own 99.34% of the company’s stock.
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Plantronics, Inc designs, manufactures, and markets integrated communications and collaborations solutions for consumers and businesses worldwide. The company offers its communications and collaboration solutions for voice, video, and content sharing, as well as a line of support and services for the workplace under the Polycom brand.
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