Cimpress plc $CMPR Shares Sold by Spruce House Investment Management LLC

Spruce House Investment Management LLC reduced its holdings in shares of Cimpress plc (NASDAQ:CMPR) by 16.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,222,633 shares of the business services provider’s stock after selling 242,733 shares during the quarter. Cimpress makes up approximately 3.2% of Spruce House Investment Management LLC’s holdings, making the stock its 9th biggest position. Spruce House Investment Management LLC owned approximately 0.05% of Cimpress worth $89,252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV bought a new stake in shares of Cimpress in the first quarter worth $30,000. Allworth Financial LP grew its position in Cimpress by 250.0% in the third quarter. Allworth Financial LP now owns 518 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 370 shares in the last quarter. Headlands Technologies LLC increased its stake in Cimpress by 32.3% in the 2nd quarter. Headlands Technologies LLC now owns 986 shares of the business services provider’s stock valued at $46,000 after buying an additional 241 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Cimpress in the 2nd quarter valued at $51,000. Finally, Quarry LP bought a new stake in Cimpress during the 3rd quarter worth about $55,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

Cimpress Stock Performance

NASDAQ CMPR opened at $97.78 on Monday. The firm’s fifty day moving average price is $96.14 and its two-hundred day moving average price is $83.82. Cimpress plc has a 1 year low of $47.76 and a 1 year high of $106.57. The firm has a market capitalization of $2.37 billion, a P/E ratio of 54.93 and a beta of 1.79.

Cimpress (NASDAQ:CMPR) last announced its quarterly earnings results on Wednesday, April 29th. The business services provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.40. Cimpress had a net margin of 1.24% and a negative return on equity of 8.25%. The firm had revenue of $886.21 million during the quarter, compared to analysts’ expectations of $858.80 million. On average, research analysts anticipate that Cimpress plc will post 3.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CMPR. Zacks Research upgraded shares of Cimpress from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 2nd. Barrington Research lifted their target price on Cimpress from $95.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded Cimpress from a “buy” rating to a “strong-buy” rating in a report on Sunday, June 14th. Truist Financial set a $110.00 price target on Cimpress in a research report on Friday, May 1st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Cimpress in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Cimpress has an average rating of “Buy” and a consensus price target of $111.50.

Insider Transactions at Cimpress

In related news, EVP Maarten Wensveen sold 19,251 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $92.96, for a total value of $1,789,572.96. Following the completion of the sale, the executive vice president directly owned 19,674 shares in the company, valued at approximately $1,828,895.04. This trade represents a 49.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sean Edward Quinn sold 5,009 shares of Cimpress stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $104.22, for a total value of $522,037.98. Following the transaction, the executive vice president owned 28,937 shares of the company’s stock, valued at $3,015,814.14. The trade was a 14.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 47,240 shares of company stock worth $4,715,549. 10.20% of the stock is owned by insiders.

Cimpress Company Profile

Cimpress NV is a global leader in mass customization and web-to-print services, offering businesses and consumers an online platform to design, order and personalize printed marketing materials and promotional products. As the parent company of Vistaprint and a portfolio of regional print service providers, Cimpress leverages proprietary technology to connect millions of small- and medium-sized customers with a network of manufacturing facilities around the world. Its product range spans business cards, brochures, signage, labels, apparel, packaging and a variety of bespoke merchandise.

The company traces its roots to Vistaprint, founded in 1995 by Robert W.