PNC Financial Services Group Inc. Sells 775 Shares of Stamps.com Inc. (STMP)

PNC Financial Services Group Inc. decreased its stake in shares of Stamps.com Inc. (NASDAQ:STMP) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 32,635 shares of the software maker’s stock after selling 775 shares during the period. PNC Financial Services Group Inc. owned 0.18% of Stamps.com worth $7,384,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in STMP. Hilltop Holdings Inc. acquired a new stake in shares of Stamps.com during the second quarter worth $377,000. First Quadrant L P CA acquired a new stake in shares of Stamps.com during the third quarter worth $5,310,000. Commonwealth Equity Services LLC acquired a new stake in shares of Stamps.com during the second quarter worth $534,000. Morgan Stanley boosted its holdings in shares of Stamps.com by 446.0% during the second quarter. Morgan Stanley now owns 495,645 shares of the software maker’s stock worth $125,424,000 after purchasing an additional 404,861 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Stamps.com during the second quarter worth $238,000. 92.19% of the stock is owned by institutional investors.

In related news, insider Amine Khechfe sold 1,200 shares of Stamps.com stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $186.24, for a total value of $223,488.00. Following the transaction, the insider now owns 1,541 shares in the company, valued at $286,995.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Sebastian Buerba sold 2,501 shares of Stamps.com stock in a transaction on Monday, October 1st. The shares were sold at an average price of $222.49, for a total value of $556,447.49. Following the completion of the transaction, the chief marketing officer now owns 720 shares in the company, valued at approximately $160,192.80. The disclosure for this sale can be found here. Insiders sold 8,600 shares of company stock worth $1,973,733 in the last quarter. 6.17% of the stock is owned by insiders.

Several equities research analysts have recently issued reports on the company. ValuEngine upgraded Stamps.com from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. BidaskClub cut Stamps.com from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. B. Riley set a $300.00 price objective on Stamps.com and gave the stock a “buy” rating in a report on Tuesday, October 30th. Maxim Group set a $320.00 price objective on Stamps.com and gave the stock a “buy” rating in a report on Wednesday, October 31st. Finally, Craig Hallum decreased their price objective on Stamps.com from $300.00 to $265.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $246.86.

Shares of Stamps.com stock opened at $171.46 on Friday. Stamps.com Inc. has a twelve month low of $145.78 and a twelve month high of $285.74. The firm has a market capitalization of $3.08 billion, a P/E ratio of 17.32, a PEG ratio of 1.16 and a beta of 0.23. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.79 and a current ratio of 1.79.

Stamps.com (NASDAQ:STMP) last issued its earnings results on Wednesday, October 31st. The software maker reported $2.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.38 by $0.38. Stamps.com had a return on equity of 35.93% and a net margin of 30.26%. The firm had revenue of $143.51 million for the quarter, compared to analysts’ expectations of $135.00 million. During the same quarter last year, the firm earned $2.68 earnings per share. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. As a group, equities research analysts predict that Stamps.com Inc. will post 9.79 EPS for the current year.

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Stamps.com Company Profile

Stamps.com Inc provides Internet-based mailing and shipping solutions in the United States. The company offers mailing and shipping solutions to mail and ship various mail pieces and packages through the United States Postal Service (USPS) under the Stamps.com and Endicia brands. Its solutions support various USPS mail classes, including First Class Mail, Priority Mail, Priority Mail Express, Media Mail, Parcel Select, and others.

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

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