Russell Investments Group Ltd. cut its position in shares of eBay Inc. (NASDAQ:EBAY) by 11.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,186,932 shares of the e-commerce company’s stock after selling 429,357 shares during the period. Russell Investments Group Ltd.’s holdings in eBay were worth $111,299,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. BlackRock Inc. raised its stake in 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 during the last quarter. Wellington Management Group LLP raised its stake in 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 during the last quarter. Nordea Investment Management AB raised its stake in 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 during the last quarter. Renaissance Technologies LLC bought a new stake in eBay during the first quarter worth about $96,616,000. Finally, Steadfast Capital Management LP raised its stake in 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 during the last quarter. 85.13% of the stock is currently owned by hedge funds and other institutional investors.
eBay Inc. (NASDAQ EBAY) opened at 37.04 on Thursday. The firm has a 50-day moving average of $35.43 and a 200-day moving average of $33.79. The company has a market cap of $39.64 billion, a PE ratio of 5.56 and a beta of 1.36. eBay Inc. has a one year low of $27.28 and a one year high of $37.48. eBay also saw some unusual options trading activity on Monday. Stock investors acquired 4,033 call options on the stock. This is an increase of 484% compared to the typical daily volume of 690 call options.
eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.31 billion. eBay had a net margin of 80.93% and a return on equity of 17.50%. The company’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, analysts predict that eBay Inc. will post $2.01 EPS for the current year.
eBay declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 20th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the e-commerce company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts recently issued reports on EBAY shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $35.00 target price on shares of eBay in a research note on Friday, April 14th. Goldman Sachs Group, Inc. (The) set a $42.00 target price on eBay and gave the company a “buy” rating in a research note on Wednesday, June 28th. Argus upped their target price on eBay from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, April 12th. Aegis reaffirmed a “buy” rating and issued a $40.00 target price (up previously from $38.00) on shares of eBay in a research note on Thursday, April 13th. Finally, Credit Suisse Group raised eBay from a “neutral” rating to an “outperform” rating and upped their target price for the company from $34.00 to $44.00 in a research note on Monday, June 5th. Two equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. eBay currently has an average rating of “Hold” and a consensus target price of $36.91.
In other news, VP Brian J. Doerger sold 2,903 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $34.11, for a total value of $99,021.33. Following the transaction, the vice president now directly owns 30,701 shares of the company’s stock, valued at $1,047,211.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen C. Mitic sold 11,897 shares of the stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $33.84, for a total transaction of $402,594.48. Following the completion of the transaction, the director now directly owns 20,162 shares in the company, valued at $682,282.08. The disclosure for this sale can be found here. Insiders sold 64,660 shares of company stock worth $2,243,089 over the last three months. Insiders own 6.78% of the company’s stock.
eBay Company Profile
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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