AQR Capital Management LLC lowered its stake in shares of Stamps.com Inc. (NASDAQ:STMP) by 45.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,910 shares of the software maker’s stock after selling 9,739 shares during the period. AQR Capital Management LLC owned 0.07% of Stamps.com worth $1,410,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of STMP. Jericho Capital Asset Management L.P. raised its position in shares of Stamps.com by 0.7% in the first quarter. Jericho Capital Asset Management L.P. now owns 596,303 shares of the software maker’s stock valued at $70,572,000 after buying an additional 4,303 shares during the last quarter. Gotham Asset Management LLC raised its position in shares of Stamps.com by 33.9% in the first quarter. Gotham Asset Management LLC now owns 195,435 shares of the software maker’s stock valued at $23,130,000 after buying an additional 49,451 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Stamps.com during the first quarter valued at $4,085,000. State Street Corp raised its position in shares of Stamps.com by 7.9% in the first quarter. State Street Corp now owns 385,090 shares of the software maker’s stock valued at $45,577,000 after buying an additional 28,331 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of Stamps.com by 20.9% in the first quarter. Bank of America Corp DE now owns 69,162 shares of the software maker’s stock valued at $8,185,000 after buying an additional 11,967 shares during the last quarter.
Shares of Stamps.com Inc. (NASDAQ:STMP) traded up 0.88% during trading on Friday, reaching $207.40. The company’s stock had a trading volume of 293,302 shares. Stamps.com Inc. has a 52 week low of $76.76 and a 52 week high of $209.70. The stock’s 50 day moving average price is $148.13 and its 200 day moving average price is $128.82. The company has a market cap of $3.51 billion, a PE ratio of 33.54 and a beta of 0.01.
Stamps.com (NASDAQ:STMP) last announced its quarterly earnings data on Wednesday, August 2nd. The software maker reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.36. Stamps.com had a return on equity of 35.18% and a net margin of 26.66%. The company had revenue of $116.14 million for the quarter, compared to analysts’ expectations of $99.29 million. During the same quarter in the prior year, the business posted $1.94 EPS. The business’s revenue was up 38.2% compared to the same quarter last year. Equities research analysts predict that Stamps.com Inc. will post $7.87 EPS for the current year.
Stamps.com declared that its board has authorized a share repurchase program on Wednesday, May 3rd that allows the company to buyback $90.00 million in outstanding shares. This buyback authorization allows the software maker to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
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Several equities analysts recently weighed in on the stock. Roth Capital raised their price objective on shares of Stamps.com from $166.00 to $203.00 and gave the company a “buy” rating in a research report on Thursday. Craig Hallum reaffirmed a “buy” rating and set a $210.00 price objective (up previously from $170.00) on shares of Stamps.com in a research report on Thursday. B. Riley reaffirmed a “buy” rating and set a $250.00 price objective on shares of Stamps.com in a research report on Thursday. Sidoti reaffirmed a “buy” rating and set a $182.00 price objective on shares of Stamps.com in a research report on Thursday, July 6th. Finally, Zacks Investment Research lowered shares of Stamps.com from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $192.67.
In other news, insider Amine Khechfe sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $137.85, for a total transaction of $165,420.00. Following the sale, the insider now owns 1,372 shares in the company, valued at approximately $189,130.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Seth Weisberg sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $140.36, for a total value of $701,800.00. Following the sale, the insider now owns 23,072 shares in the company, valued at approximately $3,238,385.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,600 shares of company stock worth $9,493,210. Company insiders own 11.46% of the company’s stock.
About Stamps.com
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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