Poshmark, Inc. (NASDAQ:POSH – Get Rating) major shareholder Holdings (Private) Ltd Temasek sold 2,000,000 shares of the firm’s stock in a transaction on Wednesday, May 25th. The shares were sold at an average price of $10.65, for a total transaction of $21,300,000.00. Following the completion of the transaction, the insider now owns 3,971,646 shares in the company, valued at $42,298,029.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
NASDAQ:POSH opened at $11.31 on Friday. The company has a 50-day moving average of $12.07 and a 200-day moving average of $14.89. The company has a market capitalization of $878.64 million, a price-to-earnings ratio of -22.62 and a beta of 0.23. Poshmark, Inc. has a 52 week low of $8.97 and a 52 week high of $52.39.
Poshmark (NASDAQ:POSH – Get Rating) last released its quarterly earnings data on Thursday, May 12th. The clothing resale marketplace reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. Poshmark had a negative net margin of 11.59% and a negative return on equity of 9.37%. The company had revenue of $90.90 million during the quarter, compared to the consensus estimate of $87.66 million. During the same period last year, the firm earned ($0.33) EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities research analysts predict that Poshmark, Inc. will post -0.97 earnings per share for the current fiscal year.
A number of research firms recently issued reports on POSH. Zacks Investment Research upgraded shares of Poshmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 14th. Cowen lowered their target price on shares of Poshmark to $22.00 and set a “na” rating on the stock in a research note on Monday, May 16th. Morgan Stanley decreased their price target on shares of Poshmark from $20.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 23rd. Wedbush decreased their price target on shares of Poshmark from $23.00 to $16.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 23rd. Finally, MKM Partners raised their price target on shares of Poshmark from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 23rd. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Poshmark presently has an average rating of “Hold” and a consensus price target of $18.82.
Poshmark Company Profile (Get Rating)
Poshmark, Inc operates as a social marketplace for new and secondhand style products in the United States, Canada, India, and Australia. The company offers apparel, footwear, home, beauty, and pet products, as well as accessories. As of December 31, 2021, it had 7.6 million active buyers. The company was formerly known as GoshPosh, Inc and changed its name to Poshmark, Inc in 2011.
- Get a free copy of the StockNews.com research report on Poshmark (POSH)
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