Pitney Bowes Inc. (NYSE:PBI) Stock Position Reduced by Equitable Trust Co.

Equitable Trust Co. cut its stake in shares of Pitney Bowes Inc. (NYSE:PBI) by 25.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,364 shares of the technology company’s stock after selling 15,232 shares during the period. Equitable Trust Co.’s holdings in Pitney Bowes were worth $328,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. James J. Burns & Company LLC grew its position in Pitney Bowes by 9.7% in the fourth quarter. James J. Burns & Company LLC now owns 18,587 shares of the technology company’s stock worth $135,000 after acquiring an additional 1,637 shares in the last quarter. First Citizens Bank & Trust Co. grew its position in Pitney Bowes by 10.8% in the fourth quarter. First Citizens Bank & Trust Co. now owns 20,677 shares of the technology company’s stock worth $150,000 after acquiring an additional 2,020 shares in the last quarter. Westside Investment Management Inc. grew its position in Pitney Bowes by 0.5% in the fourth quarter. Westside Investment Management Inc. now owns 625,939 shares of the technology company’s stock worth $4,532,000 after acquiring an additional 3,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Pitney Bowes by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,663 shares of the technology company’s stock worth $347,000 after acquiring an additional 4,728 shares in the last quarter. Finally, nVerses Capital LLC grew its position in Pitney Bowes by 59.6% in the third quarter. nVerses Capital LLC now owns 15,000 shares of the technology company’s stock worth $107,000 after acquiring an additional 5,600 shares in the last quarter. 67.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Lauren Freemen-Bosworth sold 42,308 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $8.12, for a total transaction of $343,540.96. Following the completion of the transaction, the executive vice president now directly owns 18,664 shares in the company, valued at $151,551.68. This represents a 69.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Deborah Pfeiffer sold 35,000 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $9.02, for a total transaction of $315,700.00. Following the transaction, the executive vice president now owns 124,124 shares of the company’s stock, valued at approximately $1,119,598.48. The trade was a 22.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.30% of the stock is owned by insiders.

Pitney Bowes Stock Down 0.6 %

PBI stock opened at $8.77 on Wednesday. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -4.02, a P/E/G ratio of 0.52 and a beta of 2.01. Pitney Bowes Inc. has a 12 month low of $3.73 and a 12 month high of $9.37. The firm has a 50 day moving average of $7.78 and a two-hundred day moving average of $7.33.

Pitney Bowes (NYSE:PBI) last posted its quarterly earnings data on Tuesday, February 11th. The technology company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.16. Pitney Bowes had a negative net margin of 13.02% and a negative return on equity of 12.85%. On average, research analysts expect that Pitney Bowes Inc. will post 0.4 EPS for the current fiscal year.

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.