Pictet Asset Management Ltd. increased its stake in eBay Inc. (NASDAQ:EBAY) by 34.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,856,884 shares of the e-commerce company’s stock after buying an additional 732,977 shares during the period. Pictet Asset Management Ltd. owned 0.27% of eBay worth $97,991,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Davis R M Inc. increased its position in eBay by 60.0% in the second quarter. Davis R M Inc. now owns 19,200 shares of the e-commerce company’s stock valued at $670,000 after buying an additional 7,200 shares in the last quarter. Smithfield Trust Co. increased its position in eBay by 21.7% in the second quarter. Smithfield Trust Co. now owns 5,196 shares of the e-commerce company’s stock valued at $181,000 after buying an additional 927 shares in the last quarter. Lowe Brockenbrough & Co. Inc. increased its position in eBay by 2.0% in the second quarter. Lowe Brockenbrough & Co. Inc. now owns 101,555 shares of the e-commerce company’s stock valued at $3,546,000 after buying an additional 1,975 shares in the last quarter. Bodenholm Capital AB increased its position in eBay by 34.4% in the second quarter. Bodenholm Capital AB now owns 794,509 shares of the e-commerce company’s stock valued at $27,735,000 after buying an additional 203,309 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its position in eBay by 0.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 111,015 shares of the e-commerce company’s stock valued at $3,877,000 after buying an additional 599 shares in the last quarter. 85.71% of the stock is currently owned by institutional investors.
Shares of eBay Inc. (NASDAQ:EBAY) traded down 0.20% during mid-day trading on Friday, reaching $34.78. 8,747,216 shares of the company traded hands. The company’s 50 day moving average is $35.77 and its 200 day moving average is $34.33. eBay Inc. has a 52-week low of $27.28 and a 52-week high of $37.48. The stock has a market capitalization of $37.23 billion, a price-to-earnings ratio of 5.22 and a beta of 1.36. eBay also was the recipient of unusually large options trading on Wednesday. Stock investors purchased 2,194 put options on the company. This is an increase of 231% compared to the average volume of 663 put options.
eBay declared that its board has approved a share repurchase program on Thursday, July 20th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the e-commerce company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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Several research firms recently commented on EBAY. SunTrust Banks, Inc. began coverage on shares of eBay in a research note on Tuesday. They issued a “hold” rating and a $38.00 price target on the stock. Mizuho reaffirmed an “underperform” rating and issued a $34.00 price target on shares of eBay in a research note on Monday, August 7th. BidaskClub downgraded shares of eBay from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Canaccord Genuity increased their target price on shares of eBay from $32.00 to $34.00 and gave the stock a “hold” rating in a report on Monday, July 24th. Finally, Susquehanna Bancshares Inc reiterated a “positive” rating and set a $41.00 target price (up from $40.00) on shares of eBay in a report on Sunday, July 23rd. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $37.05.
In other news, VP Brian J. Doerger sold 10,450 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $36.56, for a total value of $382,052.00. Following the transaction, the vice president now directly owns 24,001 shares in the company, valued at approximately $877,476.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Harry A. Lawton III sold 34,832 shares of the firm’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $35.00, for a total value of $1,219,120.00. Following the completion of the transaction, the senior vice president now owns 83,058 shares in the company, valued at $2,907,030. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,238 shares of company stock worth $3,376,547. Company insiders own 6.78% of the company’s stock.
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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