Pitney Bowes (NYSE:PBI) Reaches New 1-Year High – Should You Buy?

Pitney Bowes Inc. (NYSE:PBI) hit a new 52-week high during trading on Tuesday . The company traded as high as $9.37 and last traded at $8.74, with a volume of 698937 shares trading hands. The stock had previously closed at $8.82.

Pitney Bowes Price Performance

The stock has a market capitalization of $1.57 billion, a PE ratio of -3.97, a P/E/G ratio of 0.52 and a beta of 2.01. The firm’s 50 day simple moving average is $7.76 and its 200 day simple moving average is $7.32.

Insider Buying and Selling at Pitney Bowes

In other news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $8.12, for a total value of $343,540.96. Following the completion of the transaction, the executive vice president now owns 18,664 shares in the company, valued at $151,551.68. The trade was a 69.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Evans acquired 29,000 shares of Pitney Bowes stock in a transaction that occurred on Wednesday, November 20th. The stock was acquired at an average price of $7.80 per share, with a total value of $226,200.00. Following the completion of the acquisition, the director now directly owns 29,000 shares in the company, valued at $226,200. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 14.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its stake in Pitney Bowes by 130.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,078 shares of the technology company’s stock worth $37,000 after purchasing an additional 2,873 shares during the period. 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 purchasing an additional 7,478 shares during the last quarter. Truvestments Capital LLC acquired a new position in shares of Pitney Bowes in the 3rd quarter valued at $86,000. AQR Capital Management LLC purchased a new position in shares of Pitney Bowes during the 2nd quarter valued at approximately $97,000. Finally, Xponance Inc. grew its holdings in shares of Pitney Bowes by 36.7% during the fourth quarter. Xponance Inc. now owns 14,283 shares of the technology company’s stock worth $103,000 after buying an additional 3,837 shares in the last quarter. Institutional investors own 67.88% of the company’s stock.

About Pitney Bowes

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.