In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Planet Payment Inc (NASDAQ:PLPM) that Discovery Group I, Llc. has picked up 3,825,387 of common stock as of 2017-07-12.
The acquisition brings the aggregate amount owned by Discovery Group I, Llc. to a total of 3,825,387 representing a 7.7% stake in the company.
For those not familiar with the company, Planet Payment, Inc. is a provider of international payment and transaction processing and multi-currency processing services. The Company operates through two segments: multi-currency processing services and payment processing services. Its multi-currency processing services segment includes Pay In Your Currency, Multi-Currency Pricing and Dynamic Currency Conversion at automated teller machines, enable merchants to offer customized pricing in multiple currencies. Its payment processing services consist of end-to-end authorization, capture, clearing and settlement services to its customers along with localized language support and online access to reconciliation, reporting and analytics services. It provides its services to approximately 118,000 active merchant locations in over 20 countries and territories across the Asia Pacific region, the Americas, the Middle East, Africa and Europe, primarily through its acquiring bank and processor customers.
A glance at Planet Payment Inc. (NASDAQ:PLPM)’s key stats reveals a current market capitalization of $169.74 Million based on $49.75 Million shares outstanding and a price at last close of $3.34 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2014-11-17, Williams picked up 20,000 at a purchase price of $1.61. This brings their total holding to 318,166 as of the date of the filing.
On the sell side, the most recent transaction saw Kaiden unload 3,715 shares at a sale price of $4.51. This brings their total holding to 93,795.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Planet Payment Inc (NASDAQ:PLPM) as things move forward to see if its progress aligns with these transactions.
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