Stamps.com (STMP) Trading 5.1% Higher

Stamps.com Inc. (NASDAQ:STMP)’s share price traded up 5.1% on Tuesday . The stock traded as high as $202.65 and last traded at $199.95. 556,566 shares were traded during mid-day trading, an increase of 67% from the average session volume of 332,844 shares. The stock had previously closed at $190.25.

Several equities analysts recently weighed in on the company. Roth Capital lifted their price target on Stamps.com from $203.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, October 30th. Northland Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Stamps.com in a research note on Thursday, October 12th. Zacks Investment Research lowered 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 objective on Stamps.com and gave the stock a “buy” rating in a research note on Thursday, October 5th. Finally, ValuEngine lowered Stamps.com from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $217.71.

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.80 and a quick ratio of 2.80. The firm has a market cap of $3,460.00, a P/E ratio of 25.92, a P/E/G ratio of 2.09 and a beta of -0.07.

Stamps.com announced that its board has approved a stock buyback program on Thursday, November 2nd that permits the company to buyback $90.00 million in shares. This buyback authorization permits the software maker to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

In other news, CEO Kenneth Thomas Mcbride sold 142,133 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $180.02, for a total transaction of $25,586,782.66. Following the transaction, the chief executive officer now directly owns 73,599 shares in the company, valued at approximately $13,249,291.98. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Amine Khechfe sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $167.40, for a total value of $200,880.00. Following the transaction, the insider now owns 1,442 shares in the company, valued at $241,390.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 246,167 shares of company stock valued at $48,679,584. 11.08% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Stamps.com by 4.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,446,477 shares of the software maker’s stock worth $224,023,000 after purchasing an additional 64,398 shares during the last quarter. Fred Alger Management Inc. boosted its holdings in shares of Stamps.com by 7.1% during the 2nd quarter. Fred Alger Management Inc. now owns 414,728 shares of the software maker’s stock worth $64,231,000 after purchasing an additional 27,541 shares during the last quarter. State Street Corp boosted its holdings in shares of Stamps.com by 4.4% during the 2nd quarter. State Street Corp now owns 402,084 shares of the software maker’s stock worth $62,274,000 after purchasing an additional 16,994 shares during the last quarter. Calixto Global Investors LP boosted its holdings in shares of Stamps.com by 111.5% during the 2nd quarter. Calixto Global Investors LP now owns 379,168 shares of the software maker’s stock worth $58,724,000 after purchasing an additional 199,869 shares during the last quarter. Finally, Light Street Capital Management LLC boosted its holdings in shares of Stamps.com by 55.3% during the 2nd quarter. Light Street Capital Management LLC now owns 365,000 shares of the software maker’s stock worth $56,529,000 after purchasing an additional 130,000 shares during the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

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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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