eBay Inc. (EBAY) Shares Sold by IFP Advisors Inc
IFP Advisors Inc reduced its position in eBay Inc. (NASDAQ:EBAY) by 1.8% during the second quarter, Holdings Channel reports. The fund owned 10,119 shares of the e-commerce company’s stock after selling 188 shares during the period. IFP Advisors Inc’s holdings in eBay were worth $353,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. increased its stake in eBay by 27.8% in the first quarter. UBS Asset Management Americas Inc. now owns 3,813,013 shares of the e-commerce company’s stock worth $128,003,000 after buying an additional 829,988 shares during the last quarter. Menta Capital LLC acquired a new position in shares of eBay during the first quarter valued at approximately $363,000. Pinnacle Financial Partners Inc. acquired a new position in shares of eBay during the first quarter valued at approximately $215,000. US Bancorp DE raised its position in shares of eBay by 2.0% in the first quarter. US Bancorp DE now owns 166,698 shares of the e-commerce company’s stock valued at $5,597,000 after buying an additional 3,237 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of eBay during the first quarter valued at approximately $13,331,000. Institutional investors own 85.71% of the company’s stock.
eBay Inc. (EBAY) opened at 35.25 on Wednesday. The company’s 50-day moving average is $35.76 and its 200 day moving average is $34.30. eBay Inc. has a one year low of $27.28 and a one year high of $37.48. The company has a market capitalization of $37.73 billion, a P/E ratio of 5.29 and a beta of 1.36.
eBay (NASDAQ:EBAY) last released its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. eBay had a net margin of 80.93% and a return on equity of 17.50%. The business had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company posted $0.43 earnings per share. eBay’s revenue was up 4.4% compared to the same quarter last year. Analysts predict that eBay Inc. will post $2.01 EPS for the current year.
eBay announced that its Board of Directors has initiated a share repurchase program on Thursday, July 20th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the e-commerce company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.
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Several research analysts have recently commented on the stock. SunTrust Banks, Inc. assumed coverage on shares of eBay in a research note on Tuesday. They set a “hold” rating on the stock. Mizuho restated an “underperform” rating and set a $34.00 price target on shares of eBay in a research note on Monday, August 7th. BidaskClub lowered shares of eBay from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. Canaccord Genuity increased their price target on shares of eBay from $32.00 to $34.00 and gave the stock a “hold” rating in a research note on Monday, July 24th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and set a $41.00 price target (up previously from $40.00) on shares of eBay in a research note on Sunday, July 23rd. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and seventeen have given a buy rating to the stock. eBay presently has a consensus rating of “Hold” and a consensus price target of $36.97.
In other eBay news, 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 sale, the director now directly owns 20,162 shares in the company, valued at $682,282.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Harry A. Lawton III sold 13,000 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $35.93, for a total transaction of $467,090.00. Following the sale, the senior vice president now owns 45,488 shares in the company, valued at $1,634,383.84. The disclosure for this sale can be found here. Insiders sold 72,303 shares of company stock worth $2,560,022 over the last 90 days. 6.78% of the stock is currently owned by corporate insiders.
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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