Stamps.com Inc. (STMP) Shares Sold by Tekne Capital Management LLC

Tekne Capital Management LLC lessened its stake in Stamps.com Inc. (NASDAQ:STMP) by 20.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 162,064 shares of the software maker’s stock after selling 40,811 shares during the quarter. Stamps.com accounts for about 6.7% of Tekne Capital Management LLC’s portfolio, making the stock its 7th largest holding. Tekne Capital Management LLC owned about 0.93% of Stamps.com worth $32,842,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Riverhead Capital Management LLC raised its holdings in Stamps.com by 66.5% in the 2nd quarter. Riverhead Capital Management LLC now owns 666 shares of the software maker’s stock worth $103,000 after purchasing an additional 266 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Stamps.com by 11.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 883 shares of the software maker’s stock worth $137,000 after purchasing an additional 92 shares during the period. Victory Capital Management Inc. raised its holdings in Stamps.com by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 1,038 shares of the software maker’s stock worth $161,000 after purchasing an additional 156 shares during the period. Bank of Montreal Can raised its holdings in Stamps.com by 1.6% in the 2nd quarter. Bank of Montreal Can now owns 1,074 shares of the software maker’s stock worth $167,000 after purchasing an additional 17 shares during the period. Finally, Turner Investments LLC acquired a new position in Stamps.com in the 2nd quarter worth about $194,000. 98.85% of the stock is owned by institutional investors and hedge funds.

Shares of Stamps.com Inc. (NASDAQ:STMP) opened at $169.75 on Tuesday. Stamps.com Inc. has a 52 week low of $100.55 and a 52 week 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 company has a market capitalization of $2,928.57, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 1.52 and a beta of -0.06.

Stamps.com announced that its board has initiated a share repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $90.00 million in shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

A number of research firms recently weighed in on STMP. B. Riley reaffirmed a “buy” rating and issued a $250.00 price target on shares of Stamps.com in a report on Friday. Craig Hallum set a $230.00 price target on Stamps.com and gave the stock a “buy” rating in a report on Friday, August 25th. Northland Securities reiterated a “buy” rating and set a $200.00 price objective on shares of Stamps.com in a research note on Thursday, September 14th. Roth Capital boosted their price objective on Stamps.com from $203.00 to $245.00 and gave the stock a “buy” rating in a research note on Monday, October 30th. Finally, ValuEngine lowered Stamps.com from a “buy” rating to a “hold” rating in a research note on Monday, November 20th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $217.71.

In other news, CEO Kenneth Thomas Mcbride sold 142,133 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $180.02, for a total value of $25,586,782.66. Following the completion of the sale, the chief executive officer now directly owns 73,599 shares in the company, valued at $13,249,291.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lloyd I. Miller III sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $189.00, for a total value of $4,725,000.00. Following the completion of the sale, the director now owns 110,269 shares of the company’s stock, valued at $20,840,841. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 449,381 shares of company stock valued at $89,463,027. 11.08% of the stock is owned by company insiders.

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

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