Pitney Bowes (NYSE:PBI) Shares Down 4.2% Following Insider Selling

Pitney Bowes Inc. (NYSE:PBI)’s share price was down 4.2% on Tuesday following insider selling activity. The company traded as low as $8.92 and last traded at $8.86. Approximately 679,045 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 1,949,301 shares. The stock had previously closed at $9.24.

Specifically, EVP Deborah Pfeiffer sold 35,000 shares of the company’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $9.02, for a total value of $315,700.00. Following the transaction, the executive vice president now directly owns 124,124 shares in the company, valued at approximately $1,119,598.48. This represents a 22.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Pitney Bowes Price Performance

The stock has a 50-day moving average price of $7.67 and a 200 day moving average price of $7.22. The firm has a market cap of $1.61 billion, a PE ratio of -4.07, a P/E/G ratio of 0.45 and a beta of 2.00.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Friday, November 8th. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. The company had revenue of $499.46 million during the quarter, compared to the consensus estimate of $467.80 million. As a group, equities research analysts anticipate that Pitney Bowes Inc. will post 0.38 earnings per share for the current year.

Pitney Bowes Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Monday, November 18th were issued a $0.05 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.26%. Pitney Bowes’s dividend payout ratio (DPR) is presently -9.17%.

Institutional Trading of Pitney Bowes

Several institutional investors have recently made changes to their positions in PBI. Quarry LP boosted its holdings in Pitney Bowes by 889.2% in the third quarter. Quarry LP now owns 8,319 shares of the technology company’s stock valued at $59,000 after acquiring an additional 7,478 shares during the last quarter. Point72 DIFC Ltd grew its holdings in shares of Pitney Bowes by 218.0% during the 2nd quarter. Point72 DIFC Ltd now owns 11,405 shares of the technology company’s stock worth $58,000 after purchasing an additional 7,819 shares during the period. Truvestments Capital LLC purchased a new stake in shares of Pitney Bowes during the 3rd quarter worth about $86,000. nVerses Capital LLC increased its position in Pitney Bowes by 59.6% during the 3rd quarter. nVerses Capital LLC now owns 15,000 shares of the technology company’s stock worth $107,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. raised its holdings in Pitney Bowes by 101.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 16,340 shares of the technology company’s stock valued at $117,000 after buying an additional 8,221 shares during the period. 67.88% of the stock is owned by hedge funds and other institutional investors.

Pitney Bowes Company Profile

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.