Savant Capital LLC bought a new position in eBay Inc. (NASDAQ:EBAY) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,535 shares of the e-commerce company’s stock, valued at approximately $213,000.
Other hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new stake in eBay during the 2nd quarter valued at $108,000. BB&T Investment Services Inc. acquired a new stake in eBay during the 2nd quarter valued at $119,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in eBay during the 2nd quarter valued at $123,000. FNY Partners Fund LP increased its holdings in eBay by 660.0% during the 1st 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. Finally, Westside Investment Management Inc. increased its holdings in eBay by 1.7% during the 2nd quarter. Westside Investment Management Inc. now owns 3,627 shares of the e-commerce company’s stock valued at $127,000 after purchasing an additional 60 shares in the last quarter. 87.23% of the stock is owned by hedge funds and other institutional investors.
eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Wednesday, October 18th. The e-commerce company reported $0.48 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.48. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.37 billion. eBay had a net margin of 80.45% and a return on equity of 15.69%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.45 EPS.
eBay announced that its Board of Directors has initiated a stock buyback program on Thursday, July 20th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other eBay news, SVP Harry A. Lawton III sold 34,832 shares of the stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $35.00, for a total value of $1,219,120.00. Following the completion of the sale, the senior vice president now owns 83,058 shares in the company, valued at approximately $2,907,030. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Marie Oh Huber sold 72,417 shares of the stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $37.53, for a total transaction of $2,717,810.01. Following the completion of the sale, the senior vice president now owns 101,589 shares of the company’s stock, valued at approximately $3,812,635.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 201,655 shares of company stock valued at $7,486,428. Company insiders own 6.78% of the company’s stock.
A number of research firms recently weighed in on EBAY. Guggenheim began coverage on eBay in a report on Friday, October 20th. They set a “neutral” rating for the company. Benchmark Co. reaffirmed a “buy” rating and set a $45.00 price target on shares of eBay in a report on Thursday, October 19th. Goldman Sachs Group, Inc. (The) set a $40.00 price target on eBay and gave the company a “buy” rating in a report on Thursday, October 19th. J P Morgan Chase & Co set a $38.00 price target on eBay and gave the company a “neutral” rating in a report on Thursday, October 19th. Finally, Stifel Nicolaus set a $37.00 price target on eBay and gave the company a “neutral” rating in a report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and seventeen have given a buy rating to the stock. eBay has a consensus rating of “Hold” and a consensus target price of $38.45.
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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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