Karp Capital Management Corp acquired a new position in shares of Stamps.com Inc. (NASDAQ:STMP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 6,419 shares of the software maker’s stock, valued at approximately $760,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Strs Ohio purchased a new position in shares of Stamps.com during the first quarter worth $12,130,000. Teachers Advisors LLC raised its position in shares of Stamps.com by 8.9% in the fourth quarter. Teachers Advisors LLC now owns 160,237 shares of the software maker’s stock worth $18,371,000 after buying an additional 13,057 shares during the last quarter. State Street Corp raised its position in shares of Stamps.com by 6.6% in the fourth quarter. State Street Corp now owns 356,759 shares of the software maker’s stock worth $40,902,000 after buying an additional 22,098 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Stamps.com by 1.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 2,481 shares of the software maker’s stock worth $284,000 after buying an additional 25 shares during the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Stamps.com by 51.9% in the first quarter. Fisher Asset Management LLC now owns 24,936 shares of the software maker’s stock worth $2,951,000 after buying an additional 8,522 shares during the last quarter.
Shares of Stamps.com Inc. (STMP) opened at 147.10 on Friday. The firm has a 50 day moving average price of $127.59 and a 200-day moving average price of $120.80. The firm has a market capitalization of $2.49 billion, a P/E ratio of 28.07 and a beta of 0.01. Stamps.com Inc. has a 52 week low of $68.82 and a 52 week high of $149.80.
Stamps.com (NASDAQ:STMP) last posted its earnings results on Wednesday, May 3rd. The software maker reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.16. The company had revenue of $105.04 million for the quarter, compared to the consensus estimate of $94.40 million. Stamps.com had a return on equity of 35.30% and a net margin of 24.55%. Equities research analysts predict that Stamps.com Inc. will post $7.30 EPS for the current fiscal year.
A number of research analysts have weighed in on STMP shares. Roth Capital restated a “buy” rating and issued a $166.00 price objective on shares of Stamps.com in a report on Wednesday, May 31st. ValuEngine upgraded Stamps.com from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Stamps.com from a “hold” rating to a “strong-buy” rating and set a $119.00 price objective on the stock in a report on Wednesday, May 10th. Singular Research restated a “buy” rating and issued a $145.00 price objective (up previously from $134.00) on shares of Stamps.com in a report on Monday, February 27th. Finally, B. Riley restated a “buy” rating and issued a $210.00 price objective on shares of Stamps.com in a report on Sunday, May 28th. Six equities research analysts have rated the stock with a buy rating, Stamps.com presently has an average rating of “Buy” and a consensus target price of $168.75.
In other news, insider Amine Khechfe sold 1,200 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $137.85, for a total value of $165,420.00. Following the sale, the insider now directly owns 1,372 shares in the company, valued at $189,130.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Bortnak sold 5,000 shares of the company’s stock in a transaction on Friday, March 24th. The shares were sold at an average price of $117.29, for a total value of $586,450.00. The disclosure for this sale can be found here. Insiders sold 71,784 shares of company stock worth $9,572,923 over the last 90 days. Company 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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