Meeder Asset Management Inc. trimmed its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 20.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 98,133 shares of the e-commerce company’s stock after selling 25,665 shares during the quarter. Meeder Asset Management Inc.’s holdings in eBay were worth $3,775,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in eBay by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 68,101,836 shares of the e-commerce company’s stock worth $2,378,116,000 after purchasing an additional 1,121,890 shares in the last quarter. BlackRock Inc. increased its stake in eBay by 2,424.9% during the 1st quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock worth $2,095,089,000 after purchasing an additional 59,937,723 shares in the last quarter. Independent Franchise Partners LLP increased its stake in eBay by 17.6% during the 2nd quarter. Independent Franchise Partners LLP now owns 19,322,583 shares of the e-commerce company’s stock worth $674,744,000 after purchasing an additional 2,898,085 shares in the last quarter. Nordea Investment Management AB increased its stake in eBay by 2.4% during the 2nd quarter. Nordea Investment Management AB now owns 15,289,334 shares of the e-commerce company’s stock worth $533,904,000 after purchasing an additional 360,664 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in eBay by 4.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,700,034 shares of the e-commerce company’s stock worth $459,911,000 after purchasing an additional 604,985 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently issued reports on EBAY shares. Benchmark Co. increased their target price on eBay from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $41.00 target price (up from $40.00) on shares of eBay in a research note on Sunday, July 23rd. Piper Jaffray Companies set a $34.00 target price on eBay and gave the stock a “hold” rating in a research note on Wednesday, October 11th. Morgan Stanley reissued an “underweight” rating and set a $28.00 target price on shares of eBay in a research note on Saturday, July 22nd. Finally, Guggenheim started coverage on eBay in a research note on Friday. They set a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $38.45.
In other news, Director Robert Holmes Swan sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $37.51, for a total value of $937,750.00. Following the transaction, the director now directly owns 262,119 shares in the company, valued at $9,832,083.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian J. Doerger sold 10,450 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $36.56, for a total value of $382,052.00. Following the completion of the transaction, the vice president now owns 24,001 shares in the company, valued at $877,476.56. The disclosure for this sale can be found here. Insiders sold 83,282 shares of company stock worth $3,006,012 over the last 90 days. Company insiders own 6.78% of the company’s stock.
Shares of eBay Inc. (EBAY) traded down 1.49% during trading on Monday, reaching $37.05. The company’s stock had a trading volume of 2,992,462 shares. eBay Inc. has a 12-month low of $27.28 and a 12-month high of $39.28. The company has a 50 day moving average of $38.08 and a 200 day moving average of $35.62. The company has a market cap of $39.66 billion, a PE ratio of 5.56 and a beta of 1.36.
eBay (NASDAQ:EBAY) last announced 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. eBay had a return on equity of 15.69% and a net margin of 80.45%. The business had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the previous year, the business earned $0.45 earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. On average, analysts anticipate that eBay Inc. will post $2.00 EPS for the current fiscal year.
eBay announced that its Board of Directors has initiated a stock buyback 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
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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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