Ggv Capital V. L.L.C. Sells 12,526 Shares of Poshmark, Inc. (NASDAQ:POSH) Stock

Poshmark, Inc. (NASDAQ:POSH) major shareholder Ggv Capital V. L.L.C. sold 12,526 shares of the company’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $25.28, for a total value of $316,657.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Shares of NASDAQ POSH opened at $25.16 on Wednesday. Poshmark, Inc. has a one year low of $24.25 and a one year high of $104.98. The firm’s 50 day simple moving average is $33.08 and its two-hundred day simple moving average is $40.21. The stock has a market capitalization of $1.92 billion and a P/E ratio of 20.13.

Poshmark (NASDAQ:POSH) last issued its quarterly earnings results on Tuesday, August 10th. The clothing resale marketplace reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.03. The business had revenue of $81.80 million for the quarter, compared to the consensus estimate of $80.33 million. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. Sell-side analysts forecast that Poshmark, Inc. will post -0.45 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada purchased a new stake in shares of Poshmark during the first quarter valued at approximately $34,000. Jacobi Capital Management LLC purchased a new stake in shares of Poshmark during the first quarter valued at approximately $53,000. Wells Fargo & Company MN boosted its stake in shares of Poshmark by 77.0% during the second quarter. Wells Fargo & Company MN now owns 5,668 shares of the clothing resale marketplace’s stock valued at $271,000 after purchasing an additional 2,465 shares during the period. UBS Group AG purchased a new stake in shares of Poshmark during the first quarter valued at approximately $135,000. Finally, Advisory Services Network LLC purchased a new stake in Poshmark in the second quarter worth $159,000. 13.36% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on POSH shares. Zacks Investment Research upgraded Poshmark from a “sell” rating to a “hold” rating in a research report on Tuesday, May 18th. Stifel Nicolaus upgraded shares of Poshmark from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research report on Monday, July 12th. Finally, Raymond James decreased their price objective on shares of Poshmark from $58.00 to $49.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 11th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Poshmark presently has an average rating of “Buy” and a consensus target price of $57.88.

Poshmark Company 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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Insider Buying and Selling by Quarter for Poshmark (NASDAQ:POSH)

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