Deutsche Bank AG increased its stake in shares of Plantronics Inc (NYSE:PLT) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 394,488 shares of the technology company’s stock after purchasing an additional 10,335 shares during the quarter. Deutsche Bank AG’s holdings in Plantronics were worth $13,056,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Plantronics by 5.4% during the 3rd quarter. BlackRock Inc. now owns 3,989,325 shares of the technology company’s stock worth $240,556,000 after acquiring an additional 204,326 shares in the last quarter. FMR LLC boosted its position in shares of Plantronics by 8.2% during the 3rd quarter. FMR LLC now owns 52,199 shares of the technology company’s stock worth $3,148,000 after acquiring an additional 3,975 shares in the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Plantronics during the 3rd quarter worth about $421,000. Tower Research Capital LLC TRC boosted its position in shares of Plantronics by 95.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,615 shares of the technology company’s stock worth $218,000 after acquiring an additional 1,761 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Plantronics during the 3rd quarter worth about $554,000. 97.20% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Guido Jouret bought 1,500 shares of Plantronics stock in a transaction dated Tuesday, February 19th. The stock was acquired at an average cost of $49.03 per share, with a total value of $73,545.00. Following the acquisition, the director now owns 4,988 shares of the company’s stock, valued at $244,561.64. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Marvin Tseu sold 4,238 shares of the business’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $48.88, for a total value of $207,153.44. Following the completion of the sale, the director now directly owns 24,876 shares of the company’s stock, valued at $1,215,938.88. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.
Plantronics (NYSE:PLT) last released its quarterly earnings data on Tuesday, February 5th. The technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.70. The business had revenue of $530.60 million during the quarter, compared to analysts’ expectations of $507.87 million. Plantronics had a positive return on equity of 20.15% and a negative net margin of 7.32%. The business’s quarterly revenue was up 134.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.02 EPS. As a group, research analysts forecast that Plantronics Inc will post 3.87 earnings per share for the current year.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised Plantronics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 9th. Northland Securities reaffirmed a “buy” rating and set a $85.00 price objective on shares of Plantronics in a research report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $65.00.
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Plantronics, Inc designs, manufactures, and markets lightweight communications headsets, telephone headset systems, other communication endpoints, and accessories for the business and consumer markets under the Plantronics brand worldwide. The company's enterprise products include headsets optimized for unified communications and collaboration, other corded and cordless communication headsets, audio processors, and telephone systems; and consumer products comprise Bluetooth and corded products for mobile device applications, personal computers, and gaming headsets.
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