Jennison Associates LLC Purchases New Stake in Stamps.com Inc. (NASDAQ:STMP)

Jennison Associates LLC purchased a new position in shares of Stamps.com Inc. (NASDAQ:STMP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,857 shares of the software maker’s stock, valued at approximately $782,000.

Other institutional investors also recently modified their holdings of the company. Cim LLC purchased a new position in Stamps.com during the 3rd quarter worth $527,000. Bessemer Group Inc. acquired a new stake in Stamps.com in the 3rd quarter valued at about $1,297,000. World Asset Management Inc acquired a new stake in shares of Stamps.com during the 3rd quarter worth about $212,000. Smith Asset Management Group LP boosted its stake in shares of Stamps.com by 10.0% during the 3rd quarter. Smith Asset Management Group LP now owns 3,016 shares of the software maker’s stock worth $611,000 after purchasing an additional 275 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in shares of Stamps.com during the 3rd quarter worth about $227,000. Institutional investors and hedge funds own 98.85% of the company’s stock.

In related news, Director Lloyd I. Miller III sold 25,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $189.00, for a total value of $4,725,000.00. Following the completion of the transaction, the director now directly owns 110,269 shares in the company, valued at $20,840,841. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Amine Khechfe sold 1,200 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $167.40, for a total value of $200,880.00. Following the completion of the sale, 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 450,581 shares of company stock valued at $89,663,907. Corporate insiders own 11.08% of the company’s stock.

Stamps.com Inc. (STMP) traded down $2.40 on Wednesday, reaching $168.85. The company had a trading volume of 247,005 shares, compared to its average volume of 461,990. Stamps.com Inc. has a 12-month low of $100.55 and a 12-month high of $233.13. The company has a current ratio of 2.80, a quick ratio of 2.80 and a debt-to-equity ratio of 0.27. The firm has a market cap of $2,967.02, a price-to-earnings ratio of 21.38, a P/E/G ratio of 1.54 and a beta of -0.06.

Stamps.com declared that its board has authorized a stock repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $90.00 million in outstanding shares. This repurchase authorization authorizes the software maker to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Several research firms recently issued reports on STMP. B. Riley reissued a “buy” rating and issued a $250.00 target price on shares of Stamps.com in a research report on Friday, December 1st. Craig Hallum set a $230.00 price target on shares of Stamps.com and gave the stock a “buy” rating in a research report on Friday, August 25th. Northland Securities reissued a “buy” rating and set a $200.00 price target on shares of Stamps.com in a research report on Thursday, September 14th. Roth Capital lifted their price objective on shares of Stamps.com from $203.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, October 30th. Finally, ValuEngine downgraded shares of Stamps.com from a “buy” rating to a “hold” rating in a report on Monday, November 20th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $217.71.

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Stamps.com 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.

Institutional Ownership by Quarter for Stamps.com (NASDAQ:STMP)

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