BlackRock Advisors LLC Cuts Stake in eBay Inc. (EBAY)
BlackRock Advisors LLC lowered its position in eBay Inc. (NASDAQ:EBAY) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,966,171 shares of the e-commerce company’s stock after selling 134,459 shares during the period. BlackRock Advisors LLC owned 0.17% of eBay worth $46,028,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of eBay by 344.6% in the first quarter. Wellington Management Group LLP now owns 11,298,332 shares of the e-commerce company’s stock worth $269,578,000 after buying an additional 8,756,950 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of eBay by 78.9% in the first quarter. Lazard Asset Management LLC now owns 16,144,360 shares of the e-commerce company’s stock worth $385,203,000 after buying an additional 7,117,937 shares in the last quarter. Eaton Vance Management increased its position in shares of eBay by 279.0% in the second quarter. Eaton Vance Management now owns 5,687,842 shares of the e-commerce company’s stock worth $133,152,000 after buying an additional 4,187,045 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in shares of eBay during the second quarter worth approximately $91,007,000. Finally, Independent Franchise Partners LLP increased its position in shares of eBay by 17.6% in the second quarter. Independent Franchise Partners LLP now owns 23,263,787 shares of the e-commerce company’s stock worth $544,605,000 after buying an additional 3,485,706 shares in the last quarter. 82.08% of the stock is owned by institutional investors.
eBay Inc. (NASDAQ:EBAY) opened at 31.77 on Monday. The company has a 50 day moving average of $31.38 and a 200 day moving average of $26.18. eBay Inc. has a 1-year low of $21.52 and a 1-year high of $32.81. The company has a market capitalization of $35.87 billion, a PE ratio of 19.53 and a beta of 1.13.
eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, July 20th. The e-commerce company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.17 billion. eBay had a return on equity of 29.12% and a net margin of 22.00%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 earnings per share. On average, analysts predict that eBay Inc. will post $1.89 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on the stock. Cantor Fitzgerald reissued a “hold” rating on shares of eBay in a research note on Saturday, July 9th. Deutsche Bank AG reaffirmed a “hold” rating on shares of eBay in a research note on Sunday, July 10th. Jefferies Group reaffirmed a “hold” rating and set a $32.00 price target on shares of eBay in a research note on Monday, July 18th. Bank of America Corp. reaffirmed a “buy” rating on shares of eBay in a research note on Wednesday, May 25th. Finally, Robert W. Baird lifted their price target on shares of eBay from $30.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, July 21st. Two analysts have rated the stock with a sell rating, twenty-three have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. eBay currently has a consensus rating of “Hold” and an average target price of $32.56.
In other eBay news, SVP Jae Hyun Lee sold 11,768 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $31.00, for a total value of $364,808.00. Following the sale, the senior vice president now owns 120,977 shares of the company’s stock, valued at $3,750,287. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Raymond J. Pittman sold 39,030 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $32.14, for a total value of $1,254,424.20. Following the completion of the sale, the senior vice president now directly owns 32,738 shares in the company, valued at approximately $1,052,199.32. The disclosure for this sale can be found here. 7.40% of the stock is owned by company insiders.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company helps in enabling commerce on its platforms for buyers and sellers online. The Company has an open source platform that provides software developers and merchants an access to its application programming interfaces for developing software and solutions for commerce.
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