Harvest Portfolios Group Inc. increased its position in Overstock.com, Inc. (NASDAQ:OSTK – Free Report) by 103.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 41,046 shares of the company’s stock after purchasing an additional 20,893 shares during the quarter. Harvest Portfolios Group Inc. owned approximately 0.09% of Overstock.com worth $832,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. grew its stake in Overstock.com by 4.1% in the 1st quarter. BlackRock Inc. now owns 4,774,833 shares of the company’s stock valued at $96,786,000 after buying an additional 188,195 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Overstock.com by 5.3% during the 3rd quarter. Vanguard Group Inc. now owns 4,194,008 shares of the company’s stock worth $102,123,000 after purchasing an additional 212,866 shares in the last quarter. Balyasny Asset Management L.P. grew its position in shares of Overstock.com by 355,142.7% during the 1st quarter. Balyasny Asset Management L.P. now owns 1,612,802 shares of the company’s stock worth $32,691,000 after purchasing an additional 1,612,348 shares in the last quarter. State Street Corp grew its position in shares of Overstock.com by 2.4% during the 2nd quarter. State Street Corp now owns 1,049,581 shares of the company’s stock worth $26,250,000 after purchasing an additional 24,612 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Overstock.com by 3.0% during the 1st quarter. Geode Capital Management LLC now owns 859,296 shares of the company’s stock worth $17,418,000 after purchasing an additional 25,301 shares in the last quarter. 71.35% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Bank of America reduced their price target on shares of Overstock.com from $39.00 to $24.00 in a research report on Thursday, September 7th. DA Davidson reduced their price target on shares of Overstock.com from $87.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, September 6th. Piper Sandler increased their price target on shares of Overstock.com from $20.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, July 27th. Wedbush reissued an “outperform” rating and issued a $43.00 price objective on shares of Overstock.com in a research note on Wednesday, September 6th. Finally, StockNews.com initiated coverage on shares of Overstock.com in a research note on Thursday, August 17th. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $38.29.
Overstock.com Trading Up 5.4 %
OSTK opened at $21.40 on Thursday. Overstock.com, Inc. has a twelve month low of $17.05 and a twelve month high of $39.27. The company has a quick ratio of 1.94, a current ratio of 1.97 and a debt-to-equity ratio of 0.06. The company has a fifty day moving average of $28.96 and a 200-day moving average of $23.35. The stock has a market cap of $967.34 million, a PE ratio of -7.11 and a beta of 3.61.
Overstock.com (NASDAQ:OSTK – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.07. Overstock.com had a negative net margin of 8.17% and a negative return on equity of 0.25%. The company had revenue of $422.20 million during the quarter, compared to analysts’ expectations of $409.64 million. During the same period in the prior year, the company posted $0.19 earnings per share. Overstock.com’s revenue for the quarter was down 20.1% compared to the same quarter last year. On average, sell-side analysts predict that Overstock.com, Inc. will post -0.89 EPS for the current year.
In other news, CTO Joel Weight sold 2,500 shares of Overstock.com stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $36.25, for a total transaction of $90,625.00. Following the completion of the transaction, the chief technology officer now directly owns 12,373 shares in the company, valued at $448,521.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Joel Weight sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $36.25, for a total transaction of $90,625.00. Following the transaction, the chief technology officer now directly owns 12,373 shares of the company’s stock, valued at $448,521.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Benjamin Nettles, Jr. acquired 2,052 shares of the stock in a transaction on Tuesday, August 22nd. The stock was bought at an average cost of $24.68 per share, for a total transaction of $50,643.36. Following the transaction, the director now owns 10,385 shares of the company’s stock, valued at approximately $256,301.80. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.
Overstock.com Company Profile
Overstock.com, Inc operates as an online retailer in the United States. It offers furniture, décor, area rug, bedding and bath, home improvement, outdoor, and kitchen and dining items. The company provides its products and services through its internet websites comprising overstock.com, o.co, overstock.ca, and overstockgovernment.com.
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