Dorsey Asset Management LLC recently announced the acquisition of new stake in Poshmark Inc. (NASDAQ:POSH). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.10% to 4.75 million shares with purchase of 4798.0 shares. This fresh investment now brings its stake to 8.70% valued currently at $84.76 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.21 million to 2.82 million shares. And BlackRock Fund Advisors has lifted its position by 5.30% or 0.14 million shares – to 2.78 million shares.
With over 10.01 million Poshmark Inc. (POSH) shares trading Tuesday and a closing price of $17.82 on the day, the dollar volume was approximately $178.33 million. The shares have shown a positive half year performance of 63.04% and its price on 11/29/22 gained nearly 0.17%. Currently, there are 78.68M common shares owned by the public and among those 53.47M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 10 analysts who have offered their price forecasts for POSH have a consensus price objective of $17.75. The analysts have set the share’s price value over the next 12 months at a high of $18.00 and a low of $17.50. The average price target is -3.18% below its recent price level and a downside to the estimated low will see the stock lose -1.83% over that period. But an upside of 1.0% will see the stock hit the forecast high price target while median target price for the stock is $17.76.
Insiders at the company have transacted a total of 76 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 22 of these insider trades were purchases, accounting for 676,747 shares. Insider sales of the common stock occurred on 54 occasions, with total insider shares sold totaling 2,959,253 shares.
The top 3 mutual fund holders in Poshmark Inc. are Northern Lights Fund Trust II – B, T Rowe Price Small Cap Value Fund, and iShares Russell 2000 ETF. Northern Lights Fund Trust II – B owns 2.18 million shares of the company’s stock, all valued at over $38.85 million. The company bought an additional 0.4 million shares recently to bring their total holdings to about 3.99% of the shares outstanding. T Rowe Price Small Cap Value Fund bought 97500.0 shares to see its total holdings expand to 1.05 million shares valued at over $18.67 million and representing 1.92% of the shares outstanding. iShares Russell 2000 ETF sold 18725.0 shares to bring its total holdings to over 1.01 million shares at a value of $18.03 million. iShares Russell 2000 ETF now owns shares totaling to 1.85% of the shares outstanding.
Shares of Poshmark Inc. (NASDAQ: POSH) opened at $17.80, up $0.01 from a prior closing price of $17.79. The company’s stock has a 5-day price change of 0.22% and 65.00% over the past three months. POSH shares are trading 4.64% year to date (YTD), with the 12-month market performance down to -6.21% lower. It has a 12-month low price of $8.97 and touched a high of $20.52 over the same period. POSH has an average intraday trading volume of 2.29 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.22%, 4.74%, and 34.64% respectively.
Institutional ownership of Poshmark Inc. (NASDAQ: POSH) shares accounts for 81.50% of the company’s 78.68M shares outstanding. Mutual fund holders own 22.37%, while other institutional holders and individual stakeholders account for 40.80% and 16.13% respectively.
It has a market capitalization of $1.41B. The earnings-per-share (ttm) stands at -$0.95. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.26% over the week and 0.37% over the month.
Analysts forecast that Poshmark Inc. (POSH) will achieve an EPS of -$0.28 for the current quarter, -$0.27 for the next quarter and -$0.9 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.31 while analysts give the company a high EPS estimate of -$0.23. Comparatively, EPS for the current quarter was -$0.09 a year ago. Earnings per share for the fiscal year are expected to decrease by -62.50%, and 14.40% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 10 brokerage firm advisors rate Poshmark Inc. (POSH) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 10 of the 10 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the POSH, a number of firms have released research notes about the stock. Barclays stated their Equal Weight rating for the stock in a research note on October 05, 2022, with the firm’s price target at $17-$18. Wedbush coverage for the Poshmark Inc. (POSH) stock in a research note released on October 04, 2022 offered a Neutral rating with a price target of $17.50. Barclays was of a view on August 15, 2022 that the stock is Overweight, while MKM Partners gave the stock Neutral rating on July 28, 2022, issuing a price target of $11. Raymond James on their part issued Mkt Perform rating on June 30, 2022.
