Pitney Bowes Inc. (NYSE:PBI) EVP Daniel J. Goldstein Purchases 3,013 Shares of Stock

Pitney Bowes Inc. (NYSE:PBIGet Rating) EVP Daniel J. Goldstein acquired 3,013 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was bought at an average price of $3.32 per share, with a total value of $10,003.16. Following the purchase, the executive vice president now directly owns 80,822 shares in the company, valued at approximately $268,329.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Pitney Bowes Price Performance

PBI stock opened at $3.33 on Tuesday. The business has a 50 day moving average price of $4.01 and a 200 day moving average price of $4.68. The stock has a market cap of $577.53 million, a price-to-earnings ratio of 16.65 and a beta of 2.22. Pitney Bowes Inc. has a fifty-two week low of $3.17 and a fifty-two week high of $8.41. The company has a quick ratio of 1.03, a current ratio of 1.08 and a debt-to-equity ratio of 49.71.

Pitney Bowes (NYSE:PBIGet Rating) last posted its earnings results on Thursday, July 28th. The technology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). The business had revenue of $871.50 million for the quarter, compared to analysts’ expectations of $911.49 million. Pitney Bowes had a return on equity of 59.58% and a net margin of 0.97%. Pitney Bowes’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 EPS.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PBI shares. TheStreet cut Pitney Bowes from a “c” rating to a “d+” rating in a research note on Thursday, July 28th. StockNews.com cut Pitney Bowes from a “buy” rating to a “hold” rating in a research note on Friday.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PBI. Goldman Sachs Group Inc. increased its position in Pitney Bowes by 251.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,250,507 shares of the technology company’s stock worth $28,180,000 after buying an additional 3,041,923 shares during the period. Millennium Management LLC increased its position in Pitney Bowes by 272.3% during the fourth quarter. Millennium Management LLC now owns 3,596,559 shares of the technology company’s stock worth $23,845,000 after buying an additional 2,630,402 shares during the period. Permit Capital LLC acquired a new position in Pitney Bowes during the first quarter worth approximately $8,320,000. EMG Holdings L.P. increased its position in Pitney Bowes by 466.6% during the first quarter. EMG Holdings L.P. now owns 1,099,806 shares of the technology company’s stock worth $5,719,000 after buying an additional 1,399,806 shares during the period. Finally, Victory Capital Management Inc. increased its position in Pitney Bowes by 449.3% during the first quarter. Victory Capital Management Inc. now owns 1,465,174 shares of the technology company’s stock worth $7,721,000 after buying an additional 1,198,461 shares during the period. Institutional investors and hedge funds own 64.87% of the company’s stock.

Pitney Bowes Company Profile

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Pitney Bowes Inc, a shipping and mailing company, provides technology, logistics, and financial services to small and medium sized businesses, large enterprises, retailers, and government clients in the United States and internationally. It operates through Global Ecommerce, Presort Services, and SendTech Solutions segments.

Further Reading

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