Whittier Trust Co. reduced its position in shares of eBay Inc. (NASDAQ:EBAY) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,205 shares of the e-commerce company’s stock after selling 240 shares during the period. Whittier Trust Co.’s holdings in eBay were worth $321,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. BlackRock Inc. increased its stake in shares of eBay by 2,424.9% in the first quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock worth $2,095,089,000 after buying an additional 59,937,723 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of eBay by 169.5% in the first quarter. Wellington Management Group LLP now owns 37,211,205 shares of the e-commerce company’s stock worth $1,249,180,000 after buying an additional 23,404,909 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of eBay by 46.7% in the first quarter. Nordea Investment Management AB now owns 14,928,670 shares of the e-commerce company’s stock worth $501,155,000 after buying an additional 4,749,434 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of eBay during the first quarter worth about $96,616,000. Finally, Steadfast Capital Management LP increased its stake in shares of eBay by 42.8% in the first quarter. Steadfast Capital Management LP now owns 9,042,180 shares of the e-commerce company’s stock worth $303,546,000 after buying an additional 2,708,246 shares in the last quarter. 85.71% of the stock is owned by hedge funds and other institutional investors.
Shares of eBay Inc. (NASDAQ EBAY) traded down 0.20% on Friday, hitting $34.78. The stock had a trading volume of 8,747,216 shares. The firm’s 50-day moving average is $35.77 and its 200-day moving average is $34.33. eBay Inc. has a one year low of $27.28 and a one year high of $37.48. The company has a market cap of $37.23 billion, a price-to-earnings ratio of 5.22 and a beta of 1.36. eBay also was the target of some unusual options trading on Wednesday. Traders bought 2,194 put options on the stock. This is an increase of 231% compared to the average daily volume of 663 put options.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 EPS for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. eBay had a return on equity of 17.50% and a net margin of 80.93%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. On average, analysts expect that eBay Inc. will post $2.00 EPS for the current fiscal year.
eBay declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 20th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the e-commerce company to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
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A number of analysts recently issued reports on the company. SunTrust Banks, Inc. assumed coverage on eBay in a research report on Tuesday. They issued a “hold” rating and a $38.00 price target for the company. Mizuho restated an “underperform” rating and issued a $34.00 price target on shares of eBay in a research report on Monday, August 7th. BidaskClub downgraded eBay from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Canaccord Genuity raised their price target on eBay from $32.00 to $34.00 and gave the stock a “hold” rating in a research report on Monday, July 24th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and issued a $41.00 price target (up from $40.00) on shares of eBay in a research report on Sunday, July 23rd. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $37.05.
In other news, SVP Stephen Fisher sold 11,956 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $36.24, for a total value of $433,285.44. Following the completion of the sale, the senior vice president now directly owns 89,740 shares of the company’s stock, valued at approximately $3,252,177.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Holmes Swan sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $35.00, for a total value of $875,000.00. Following the completion of the sale, the director now directly owns 286,562 shares of the company’s stock, valued at $10,029,670. The disclosure for this sale can be found here. Insiders sold a total of 95,238 shares of company stock valued at $3,376,547 over the last three months. 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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