Bank of New York Mellon Corp Buys 32,656 Shares of Sezzle Inc. (NASDAQ:SEZL)

Key Points

• Bank of New York Mellon Corp significantly increased its holdings in Sezzle Inc. by 518%, owning 38,960 shares valued at approximately $1.36 million.
• Several institutional investors, including Calamos Advisors and Principal Financial Group, also raised their positions in Sezzle, reflecting growing confidence in the company's stock.
• Analyst ratings for Sezzle have varied, with Oppenheimer raising its price target to $202 while Wall Street Zen downgraded the stock from a "strong-buy" to a "buy" rating.

Bank of New York Mellon Corp raised its position in Sezzle Inc. (NASDAQ:SEZL - Free Report) by 518.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,960 shares of the company's stock after purchasing an additional 32,656 shares during the quarter. Bank of New York Mellon Corp owned 0.12% of Sezzle worth $1,359,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new stake in shares of Sezzle in the fourth quarter valued at about $207,000. KLP Kapitalforvaltning AS acquired a new position in shares of Sezzle in the 4th quarter worth approximately $128,000. Vanguard Group Inc. lifted its holdings in shares of Sezzle by 2.3% in the 4th quarter. Vanguard Group Inc. now owns 169,614 shares of the company's stock worth $43,387,000 after purchasing an additional 3,853 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Sezzle by 16.8% in the 4th quarter. JPMorgan Chase & Co. now owns 4,647 shares of the company's stock worth $1,189,000 after purchasing an additional 668 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Sezzle by 5.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 5,438 shares of the company's stock worth $1,391,000 after purchasing an additional 285 shares in the last quarter. 2.02% of the stock is currently owned by hedge funds and other institutional investors.

Sezzle Stock Down 7.0%

Shares of NASDAQ:SEZL traded down $10.84 on Friday, reaching $144.00. The company had a trading volume of 967,797 shares, compared to its average volume of 927,652. Sezzle Inc. has a twelve month low of $11.67 and a twelve month high of $186.74. The stock has a 50-day moving average price of $142.53 and a 200 day moving average price of $81.23. The stock has a market capitalization of $4.79 billion, a P/E ratio of 48.65 and a beta of 9.10. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.56.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Oppenheimer boosted their price objective on Sezzle from $168.00 to $202.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. Wall Street Zen downgraded Sezzle from a "strong-buy" rating to a "buy" rating in a report on Thursday, May 22nd.

Insiders Place Their Bets

In related news, Director Paul Paradis sold 3,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $147.19, for a total transaction of $441,570.00. Following the completion of the transaction, the director owned 251,000 shares of the company's stock, valued at approximately $36,944,690. The trade was a 1.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Amin Sabzivand sold 6,028 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $164.23, for a total value of $989,978.44. Following the transaction, the chief operating officer directly owned 243,303 shares of the company's stock, valued at $39,957,651.69. This represents a 2.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 504,092 shares of company stock valued at $43,975,326 over the last quarter. Insiders own 49.49% of the company's stock.

Sezzle Profile

Sezzle Inc operates as a technology-enabled payments company primarily in the United States and Canada. The company provides payment solution in-store and at online retail stores; and through proprietary payments solution that connects consumers with merchants. It also offers Sezzle Platform that provides a payments solution for consumers that extends credit at the point-of-sale allowing consumers to purchase and receive the ordered merchandise at the time of sale while paying in installments over time; Pay-in-Four, which allows consumers to pay a fourth of the purchase price up front and then another fourth of the purchase price every two weeks thereafter over a total of six weeks; Pay-in-Full that allows consumers to pay for the full value of their order up-front through the Sezzle Platform without the extension of credit; and Pay-in-Two and other alternative installment options, which allow consumer to pay half of the value of their order up-front and the second half in two weeks.