California State Teachers Retirement System Decreases Holdings in Stamps.com Inc. (STMP)

California State Teachers Retirement System trimmed its holdings in Stamps.com Inc. (NASDAQ:STMP) by 9.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,366 shares of the software maker’s stock after selling 2,702 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Stamps.com worth $5,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STMP. Bank of Montreal Can increased its holdings in shares of Stamps.com by 1.6% during the 2nd quarter. Bank of Montreal Can now owns 1,074 shares of the software maker’s stock worth $167,000 after buying an additional 17 shares during the last quarter. Pinebridge Investments L.P. increased its holdings in shares of Stamps.com by 1.6% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,076 shares of the software maker’s stock worth $322,000 after buying an additional 32 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Stamps.com by 3.4% during the 2nd quarter. Amalgamated Bank now owns 2,211 shares of the software maker’s stock worth $342,000 after buying an additional 72 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Stamps.com by 11.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 883 shares of the software maker’s stock worth $137,000 after buying an additional 92 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Stamps.com by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 1,038 shares of the software maker’s stock worth $161,000 after buying an additional 156 shares during the last quarter. 98.63% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Jeffrey Carberry sold 59,583 shares of Stamps.com stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $225.01, for a total value of $13,406,770.83. Following the completion of the sale, the chief financial officer now owns 14,016 shares in the company, valued at approximately $3,153,740.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kenneth Thomas Mcbride sold 8,115 shares of Stamps.com stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $182.46, for a total transaction of $1,480,662.90. Following the completion of the sale, the chief executive officer now owns 9,981 shares of the company’s stock, valued at approximately $1,821,133.26. The disclosure for this sale can be found here. Insiders sold a total of 257,639 shares of company stock valued at $51,257,230 in the last quarter. 11.08% of the stock is owned by insiders.

Shares of Stamps.com Inc. (NASDAQ:STMP) opened at $187.35 on Wednesday. Stamps.com Inc. has a 1-year low of $100.55 and a 1-year high of $233.13. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.80 and a quick ratio of 2.80. The firm has a market cap of $3,270.00, a P/E ratio of 24.52, a P/E/G ratio of 1.70 and a beta of -0.06.

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

A number of analysts have recently issued reports on the stock. Northland Securities restated a “buy” rating and set a $250.00 price target on shares of Stamps.com in a report on Wednesday, November 22nd. B. Riley set a $250.00 price target on shares of Stamps.com and gave the stock a “buy” rating in a report on Thursday, October 5th. ValuEngine downgraded shares of Stamps.com from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Roth Capital raised their price target 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, Zacks Investment Research downgraded shares of Stamps.com from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Stamps.com presently has a consensus rating of “Buy” and a consensus price target of $217.71.

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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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