Overstock.com, Inc. (NASDAQ:OSTK)’s share price gapped up before the market opened on Friday . The stock had previously closed at $65.78, but opened at $68.00. Overstock.com shares last traded at $69.43, with a volume of 10,047 shares.
A number of research firms recently issued reports on OSTK. Bank of America raised shares of Overstock.com from a “neutral” rating to a “buy” rating and set a $91.00 price target for the company in a research note on Thursday, February 25th. Needham & Company LLC increased their price target on shares of Overstock.com from $98.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, March 1st. Wedbush increased their price target on shares of Overstock.com from $98.00 to $126.00 and gave the stock an “outperform” rating in a research note on Monday, March 1st. TheStreet raised shares of Overstock.com from a “d+” rating to a “c” rating in a research note on Monday, February 8th. Finally, DA Davidson increased their price target on shares of Overstock.com from $103.00 to $121.00 in a research note on Thursday, February 25th. Six investment analysts have rated the stock with a buy rating, Overstock.com has a consensus rating of “Buy” and a consensus target price of $113.17.
The stock’s 50 day simple moving average is $72.57 and its two-hundred day simple moving average is $69.60. The firm has a market cap of $3.25 billion, a P/E ratio of 313.25, a P/E/G ratio of 2.59 and a beta of 4.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.68 and a quick ratio of 1.66.
Overstock.com (NASDAQ:OSTK) last announced its earnings results on Wednesday, February 24th. The company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.04). Overstock.com had a net margin of 0.73% and a return on equity of 6.83%. The business had revenue of $684.02 million for the quarter, compared to the consensus estimate of $730.40 million. Equities research analysts anticipate that Overstock.com, Inc. will post 1.13 earnings per share for the current year.
In related news, CTO Joel Weight sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 5th. The shares were sold at an average price of $60.94, for a total transaction of $121,880.00. Following the completion of the sale, the chief technology officer now owns 2,658 shares of the company’s stock, valued at $161,978.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph J. Tabacco, Jr. sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 26th. The shares were sold at an average price of $81.63, for a total transaction of $3,265,200.00. Following the sale, the director now directly owns 122,900 shares of the company’s stock, valued at approximately $10,032,327. The disclosure for this sale can be found here. Insiders have sold 93,413 shares of company stock valued at $8,156,970 in the last ninety days. Insiders own 1.30% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its holdings in Overstock.com by 55.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 366,999 shares of the company’s stock worth $26,663,000 after purchasing an additional 130,862 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Overstock.com by 5.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 25,354 shares of the company’s stock worth $1,216,000 after purchasing an additional 1,213 shares during the last quarter. Boothbay Fund Management LLC purchased a new stake in Overstock.com in the third quarter worth approximately $416,000. Globeflex Capital L P boosted its holdings in Overstock.com by 25.2% in the fourth quarter. Globeflex Capital L P now owns 2,811 shares of the company’s stock worth $135,000 after purchasing an additional 566 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Overstock.com by 159.2% in the fourth quarter. ProShare Advisors LLC now owns 643,038 shares of the company’s stock worth $30,847,000 after purchasing an additional 394,969 shares during the last quarter. 65.82% of the stock is owned by institutional investors.
Overstock.com Company Profile (NASDAQ:OSTK)
Overstock.com, Inc operates as an online retailer in the United States. It operates through Retail, tZERO, and Medici Ventures segments. The company offers furniture; and home décor, including area rugs, bedding and bath, home improvement, kitchen and dining items, and other related products. It also operates Supplier Oasis, a single integration point for partners to manage their products, inventory, and sales channels, as well as obtain multi-channel fulfillment services through its distribution network.
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