Stamps.com (NASDAQ:STMP) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.
Several other brokerages have also recently commented on STMP. Roth Capital boosted their price target on shares of Stamps.com from $203.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Northland Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Stamps.com in a research note on Thursday, October 12th. Zacks Investment Research cut shares of Stamps.com from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. B. Riley set a $250.00 price target on shares of Stamps.com and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, ValuEngine cut shares of Stamps.com from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Stamps.com presently has an average rating of “Buy” and an average target price of $217.71.
Shares of Stamps.com (NASDAQ STMP) opened at $192.80 on Friday. The company has a market cap of $3,370.00, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 2.09 and a beta of -0.07. Stamps.com has a one year low of $100.55 and a one year high of $233.12. The company has a quick ratio of 2.80, a current ratio of 2.80 and a debt-to-equity ratio of 0.27.
Stamps.com announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 2nd that allows the company to buyback $90.00 million in outstanding shares. This buyback authorization allows the software maker to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.
In other news, insider Amine Khechfe sold 1,200 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $226.65, for a total transaction of $271,980.00. Following the sale, the insider now directly owns 1,442 shares in the company, valued at approximately $326,829.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jeffrey Carberry sold 59,583 shares of the company’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $225.01, for a total transaction of $13,406,770.83. Following the sale, the chief financial officer now owns 14,016 shares in the company, valued at $3,153,740.16. The disclosure for this sale can be found here. Insiders have sold a total of 246,167 shares of company stock worth $48,679,584 over the last 90 days. Corporate insiders own 11.08% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Fisher Asset Management LLC raised its position in Stamps.com by 9.6% in the 3rd quarter. Fisher Asset Management LLC now owns 35,142 shares of the software maker’s stock worth $7,122,000 after purchasing an additional 3,064 shares during the period. Municipal Employees Retirement System of Michigan raised its position in Stamps.com by 58.9% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 5,910 shares of the software maker’s stock worth $1,198,000 after purchasing an additional 2,190 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Stamps.com in the 3rd quarter worth about $940,000. Jennison Associates LLC purchased a new stake in Stamps.com in the 3rd quarter worth about $782,000. Finally, Advisor Group Inc. raised its position in Stamps.com by 370.8% in the 2nd quarter. Advisor Group Inc. now owns 3,079 shares of the software maker’s stock worth $476,000 after purchasing an additional 2,425 shares during the period. 98.63% of the stock is currently owned by institutional investors.
Stamps.com Company Profile
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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