Magellan Asset Management Ltd lowered its stake in eBay Inc. (NASDAQ:EBAY) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,174,248 shares of the e-commerce company’s stock after selling 134,936 shares during the period. eBay accounts for 5.3% of Magellan Asset Management Ltd’s portfolio, making the stock its 9th largest position. Magellan Asset Management Ltd owned 3.38% of eBay worth $1,263,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of EBAY. Captrust Financial Advisors acquired a new stake in shares of eBay in the second quarter valued at approximately $108,000. Westside Investment Management Inc. increased its holdings in shares of eBay by 284.0% in the first quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock valued at $121,000 after purchasing an additional 2,638 shares in the last quarter. FNY Partners Fund LP increased its holdings in shares of eBay by 660.0% in the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock valued at $127,000 after purchasing an additional 3,300 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of eBay by 25.5% in the first quarter. Parallel Advisors LLC now owns 4,221 shares of the e-commerce company’s stock valued at $140,000 after purchasing an additional 858 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in shares of eBay by 100.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,450 shares of the e-commerce company’s stock valued at $149,000 after purchasing an additional 2,230 shares in the last quarter. 84.91% of the stock is owned by institutional investors and hedge funds.
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In other news, Director Robert Holmes Swan sold 25,000 shares of eBay stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $37.51, for a total value of $937,750.00. Following the completion of the transaction, the director now owns 262,119 shares in the company, valued at $9,832,083.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Harry A. Lawton III sold 34,832 shares of eBay stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $35.00, for a total transaction of $1,219,120.00. Following the completion of the transaction, the senior vice president now owns 83,058 shares of the company’s stock, valued at approximately $2,907,030. The disclosure for this sale can be found here. Insiders have sold 95,238 shares of company stock valued at $3,439,297 in the last 90 days. 6.78% of the stock is currently owned by corporate insiders.
Shares of eBay Inc. (NASDAQ EBAY) traded up 0.23% on Friday, reaching $38.40. 11,121,940 shares of the company were exchanged. The company’s 50 day moving average is $36.01 and its 200 day moving average is $34.77. eBay Inc. has a 12-month low of $27.28 and a 12-month high of $38.87. The firm has a market capitalization of $41.10 billion, a PE ratio of 5.76 and a beta of 1.34.
eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. eBay had a net margin of 80.93% and a return on equity of 17.50%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the company posted $0.43 earnings per share. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts forecast that eBay Inc. will post $2.00 earnings per share for the current year.
eBay declared that its board has authorized a stock repurchase program on Thursday, July 20th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
A number of brokerages recently weighed in on EBAY. Credit Suisse Group raised shares of eBay to a “buy” rating and set a $44.00 price target for the company in a report on Monday, June 12th. Bank of America Corporation raised their price target on shares of eBay from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 21st. Vetr lowered shares of eBay from a “strong-buy” rating to a “buy” rating and set a $38.72 price target for the company. in a report on Wednesday, May 24th. SunTrust Banks, Inc. began coverage on shares of eBay in a report on Tuesday, August 15th. They issued a “hold” rating and a $38.00 price target for the company. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of eBay in a report on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and eighteen have assigned a buy rating to the company’s stock. eBay presently has an average rating of “Hold” and an average price target of $37.24.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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