Daily Stock Market News

Hans Tung Sells 33,884 Shares of Poshmark, Inc. (NASDAQ:POSH) Stock



Poshmark, Inc. (NASDAQ:POSHGet Rating) Director Hans Tung sold 33,884 shares of the company’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $11.86, for a total transaction of $401,864.24. Following the transaction, the director now owns 117,956 shares in the company, valued at approximately $1,398,958.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Monday, June 6th, Hans Tung sold 116,918 shares of Poshmark stock. The shares were sold at an average price of $11.67, for a total transaction of $1,364,433.06.
  • On Thursday, June 2nd, Hans Tung sold 40,597 shares of Poshmark stock. The shares were sold at an average price of $11.55, for a total transaction of $468,895.35.
  • On Tuesday, May 31st, Hans Tung sold 2,139 shares of Poshmark stock. The shares were sold at an average price of $11.60, for a total value of $24,812.40.
  • 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 shares were 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 shares were 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 NASDAQ POSH traded down $0.45 during mid-day trading on Thursday, reaching $11.47. 694,017 shares of the company’s stock were exchanged, compared to its average volume of 1,140,692. The firm has a market capitalization of $891.07 million, a price-to-earnings ratio of -22.94 and a beta of 0.20. Poshmark, Inc. has a 52-week low of $8.97 and a 52-week high of $49.01. The company’s 50-day moving average is $11.67 and its 200-day moving average is $14.28.

Poshmark (NASDAQ:POSHGet Rating) last released its quarterly earnings results on Thursday, May 12th. The clothing resale marketplace reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.08. The business had revenue of $90.90 million during the quarter, compared to analysts’ expectations of $87.66 million. Poshmark had a negative return on equity of 9.37% and a negative net margin of 11.59%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.33) EPS. On average, sell-side analysts forecast 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 company. Ensign Peak Advisors Inc purchased a new position in shares of Poshmark during the 4th quarter worth $60,000. Macquarie Group Ltd. purchased a new position in Poshmark during the 3rd quarter valued at about $120,000. Citigroup Inc. boosted its holdings in Poshmark by 94.1% during 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 during the period. Wells Fargo & Company MN boosted its holdings in Poshmark by 77.0% during 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 during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Poshmark by 415.6% during 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 during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

A number of brokerages have recently issued reports on POSH. JMP Securities began coverage on Poshmark in a research report on Wednesday, June 1st. They set a “market perform” rating on the stock. MKM Partners increased their price objective on Poshmark from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, March 23rd. Cowen reduced their price objective on Poshmark to $22.00 and set a “na” rating for the company in a research note on Monday, May 16th. Zacks Investment Research raised Poshmark from a “sell” rating to a “hold” rating in a research note on Saturday, May 14th. Finally, Stifel Nicolaus reduced their price objective on Poshmark from $15.00 to $12.00 in a research note on Friday, May 13th. Ten equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Poshmark currently has an average rating of “Hold” and a consensus price target of $18.82.

About Poshmark (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.

Further Reading

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



Receive News & Ratings for Poshmark Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Poshmark and related companies with MarketBeat.com’s FREE daily email newsletter.



Read More: Hans Tung Sells 33,884 Shares of Poshmark, Inc. (NASDAQ:POSH) Stock

You might also like