Poshmark, Inc. (NASDAQ:POSH) Short Interest Update

Poshmark, Inc. (NASDAQ:POSHGet Rating) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 5,940,000 shares, a growth of 26.1% from the June 15th total of 4,710,000 shares. Currently, 14.5% of the shares of the company are short sold. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is presently 4.9 days.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on POSH shares. Stifel Nicolaus boosted their price objective on Poshmark from $12.00 to $13.00 in a research report on Tuesday, June 28th. Cowen decreased their price target on shares of Poshmark to $22.00 and set a “na” rating for the company in a research report on Monday, May 16th. The Goldman Sachs Group cut their price target on shares of Poshmark from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Thursday, June 9th. JMP Securities started coverage on Poshmark in a research report on Wednesday, June 1st. They set a “market perform” rating for the company. Finally, Raymond James downgraded Poshmark from an “outperform” rating to a “market perform” rating in a report on Wednesday, June 29th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.33.

Insider Buying and Selling

In other Poshmark news, major shareholder Holdings (Private) Ltd Temasek sold 2,000,000 shares of the company’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $10.65, for a total value of $21,300,000.00. Following the transaction, the insider now directly owns 3,971,646 shares of the company’s stock, valued at approximately $42,298,029.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Poshmark news, major shareholder Holdings (Private) Ltd Temasek sold 2,000,000 shares of Poshmark stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $10.65, for a total value of $21,300,000.00. Following the completion of the transaction, the insider now directly owns 3,971,646 shares of the company’s stock, valued at approximately $42,298,029.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hans Tung sold 10,900 shares of the company’s stock in a transaction on Friday, May 27th. The shares were sold at an average price of $11.53, for a total value of $125,677.00. Following the sale, the director now owns 126,643 shares of the company’s stock, valued at $1,460,193.79. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,212,361 shares of company stock valued at $23,770,851.

Hedge Funds Weigh In On Poshmark

A number of large investors have recently modified their holdings of POSH. Citigroup Inc. lifted its holdings in shares of Poshmark by 94.1% in the first quarter. Citigroup Inc. now owns 5,319 shares of the clothing resale marketplace’s stock valued at $67,000 after purchasing an additional 2,579 shares in the last quarter. Fifth Third Bancorp purchased a new position in Poshmark during the 1st quarter worth $81,000. UBS Group AG grew its stake in shares of Poshmark by 58.0% in the 1st quarter. UBS Group AG now owns 6,757 shares of the clothing resale marketplace’s stock worth $86,000 after acquiring an additional 2,480 shares in the last quarter. Maverick Capital Ltd. bought a new stake in shares of Poshmark in the 1st quarter worth $134,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Poshmark in the first quarter valued at about $135,000. 73.07% of the stock is currently owned by institutional investors.

Poshmark Stock Up 1.3 %

Shares of NASDAQ POSH opened at $11.32 on Friday. Poshmark has a 12-month low of $8.97 and a 12-month high of $43.05. The firm has a market cap of $879.42 million, a PE ratio of -22.64 and a beta of 0.09. The company’s fifty day simple moving average is $11.00 and its 200 day simple moving average is $12.72.

Poshmark (NASDAQ:POSHGet Rating) last issued its earnings results on Thursday, May 12th. The clothing resale marketplace reported ($0.18) 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 company had revenue of $90.90 million during the quarter, compared to the consensus estimate of $87.66 million. During the same period last year, the business posted ($0.33) EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, equities analysts predict that Poshmark will post -0.97 earnings per share for the current year.

Poshmark Company Profile

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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

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