Plantronics, Inc. (NYSE:PLT) Shares Sold by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. cut its position in Plantronics, Inc. (NYSE:PLT) by 40.5% during the first quarter, Holdings Channel reports. The institutional investor owned 139,326 shares of the technology company’s stock after selling 94,982 shares during the period. Goldman Sachs Group Inc.’s holdings in Plantronics were worth $7,539,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund boosted its position in Plantronics by 1.7% in the first quarter. Oregon Public Employees Retirement Fund now owns 11,754 shares of the technology company’s stock worth $636,000 after buying an additional 200 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Plantronics by 67.4% in the first quarter. Russell Investments Group Ltd. now owns 23,400 shares of the technology company’s stock worth $1,266,000 after buying an additional 9,423 shares in the last quarter. Ledyard National Bank boosted its position in Plantronics by 400.0% in the first quarter. Ledyard National Bank now owns 5,000 shares of the technology company’s stock worth $271,000 after buying an additional 4,000 shares in the last quarter. Legato Capital Management LLC boosted its position in Plantronics by 5,310.9% in the first quarter. Legato Capital Management LLC now owns 42,530 shares of the technology company’s stock worth $786,000 after buying an additional 41,744 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its position in Plantronics by 2.4% in the first quarter. Louisiana State Employees Retirement System now owns 8,400 shares of the technology company’s stock worth $455,000 after buying an additional 200 shares in the last quarter. 90.98% of the stock is owned by institutional investors and hedge funds.

Shares of Plantronics, Inc. (PLT) opened at 53.32 on Friday. Plantronics, Inc. has a 1-year low of $44.33 and a 1-year high of $58.27. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 21.24 and a beta of 1.30. The stock has a 50 day moving average of $53.57 and a 200-day moving average of $53.99.

Plantronics (NYSE:PLT) last released its quarterly earnings results on Monday, May 1st. The technology company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.71 by $0.10. Plantronics had a net margin of 9.37% and a return on equity of 23.25%. The firm had revenue of $208.95 million during the quarter, compared to the consensus estimate of $217.11 million. During the same quarter in the prior year, the firm earned $0.64 EPS. Plantronics’s revenue for the quarter was down .4% on a year-over-year basis. Equities analysts anticipate that Plantronics, Inc. will post $3.28 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This story was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://sportsperspectives.com/2017/07/22/plantronics-inc-nyseplt-shares-sold-by-goldman-sachs-group-inc.html.

A number of research firms have issued reports on PLT. Zacks Investment Research cut shares of Plantronics from a “hold” rating to a “sell” rating in a report on Saturday, May 6th. BidaskClub cut shares of Plantronics from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Finally, J P Morgan Chase & Co raised shares of Plantronics from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $59.00 to $63.00 in a report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $59.67.

In related news, Director Marshall Mohr sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $53.14, for a total value of $159,420.00. Following the completion of the sale, the director now owns 22,384 shares in the company, valued at approximately $1,189,485.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Marvin Tseu sold 3,546 shares of the company’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $54.50, for a total transaction of $193,257.00. Following the completion of the sale, the director now owns 20,084 shares of the company’s stock, valued at approximately $1,094,578. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,775 shares of company stock valued at $533,593. 3.20% of the stock is owned by insiders.

Plantronics Company Profile

Plantronics, Inc (Plantronics) is engaged in the design, manufacture, and distribution of headsets for business and consumer applications, and other specialty products for the hearing impaired. The Company is a global designer, manufacturer and marketer of communications headsets, telephone headset systems, other communication endpoints and accessories for the business and consumer markets.

Want to see what other hedge funds are holding PLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plantronics, Inc. (NYSE:PLT).

Institutional Ownership by Quarter for Plantronics (NYSE:PLT)

Receive News & Ratings for Plantronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plantronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply