Insider Selling: Poshmark, Inc. (NASDAQ:POSH) Director Sells 2,139 Shares of Stock

Poshmark, Inc. (NASDAQ:POSHGet Rating) Director Hans Tung sold 2,139 shares of Poshmark stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $11.60, for a total value of $24,812.40. Following the completion of the transaction, the director now directly owns 126,567 shares of the company’s stock, valued at $1,468,177.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hans Tung also recently made the following trade(s):

  • On Friday, May 27th, Hans Tung sold 10,900 shares of Poshmark stock. The shares were sold at an average price of $11.53, for a total value of $125,677.00.
  • On Wednesday, March 30th, Hans Tung sold 103,015 shares of Poshmark stock. The stock was sold at an average price of $13.42, for a total value of $1,382,461.30.
  • On Monday, March 28th, Hans Tung sold 110,576 shares of Poshmark stock. The stock was sold at an average price of $13.18, for a total value of $1,457,391.68.
  • On Thursday, March 24th, Hans Tung sold 85,436 shares of Poshmark stock. The stock was sold at an average price of $14.11, for a total value of $1,205,501.96.

Shares of POSH traded down $0.47 on Wednesday, hitting $10.46. The company’s stock had a trading volume of 822,707 shares, compared to its average volume of 1,147,438. The firm’s fifty day moving average price is $11.96 and its 200-day moving average price is $14.66. Poshmark, Inc. has a fifty-two week low of $8.97 and a fifty-two week high of $52.39. The firm has a market capitalization of $812.61 million, a price-to-earnings ratio of -20.92 and a beta of 0.23.

Poshmark (NASDAQ:POSHGet Rating) last issued its quarterly earnings data on Thursday, May 12th. The clothing resale marketplace reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.08. Poshmark had a negative return on equity of 9.37% and a negative net margin of 11.59%. The business had revenue of $90.90 million during the quarter, compared to analyst estimates of $87.66 million. During the same period in the previous year, the firm earned ($0.33) EPS. Poshmark’s quarterly revenue was up 12.3% compared to the same quarter last year. Sell-side analysts expect that Poshmark, Inc. will post -0.97 EPS for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc bought a new stake in Poshmark in the 4th quarter valued at approximately $60,000. Macquarie Group Ltd. bought a new stake in Poshmark in the 3rd quarter valued at approximately $120,000. Citigroup Inc. lifted its stake in Poshmark by 94.1% in the 1st quarter. Citigroup Inc. now owns 5,319 shares of the clothing resale marketplace’s stock valued at $67,000 after acquiring an additional 2,579 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Poshmark by 77.0% in the 2nd quarter. Wells Fargo & Company MN now owns 5,668 shares of the clothing resale marketplace’s stock valued at $271,000 after acquiring an additional 2,465 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in Poshmark by 415.6% in the 4th quarter. Advisors Asset Management Inc. now owns 5,965 shares of the clothing resale marketplace’s stock valued at $102,000 after acquiring an additional 4,808 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

A number of analysts recently commented on POSH shares. Guggenheim lowered their price objective on Poshmark from $22.00 to $13.00 and set a “neutral” rating for the company in a research report on Wednesday, March 23rd. Jefferies Financial Group started coverage on Poshmark in a research report on Thursday, March 17th. They issued a “hold” rating and a $14.00 price objective for the company. Zacks Investment Research upgraded Poshmark from a “sell” rating to a “hold” rating in a research report on Saturday, May 14th. JMP Securities initiated coverage on Poshmark in a research report on Wednesday. They set a “market perform” rating for the company. Finally, Wedbush decreased their target price on Poshmark from $23.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, March 23rd. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Poshmark presently has a consensus rating of “Hold” and an average 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.

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Insider Buying and Selling by Quarter for Poshmark (NASDAQ:POSH)

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