eBay Inc. (EBAY) Stake Lowered by Essex Investment Management Co. LLC
Essex Investment Management Co. LLC trimmed its position in shares of eBay Inc. (NASDAQ:EBAY) by 6.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,260 shares of the e-commerce company’s stock after selling 5,000 shares during the period. Essex Investment Management Co. LLC’s holdings in eBay were worth $2,664,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Trust Co. of Vermont raised its stake in eBay by 0.3% in the second quarter. Trust Co. of Vermont now owns 13,837 shares of the e-commerce company’s stock worth $483,000 after buying an additional 40 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of eBay by 1.7% during the second quarter. Westside Investment Management Inc. now owns 3,627 shares of the e-commerce company’s stock valued at $127,000 after buying an additional 60 shares during the last quarter. Usca Ria LLC grew its holdings in shares of eBay by 1.3% during the second quarter. Usca Ria LLC now owns 7,926 shares of the e-commerce company’s stock valued at $277,000 after buying an additional 100 shares during the last quarter. CENTRAL TRUST Co grew its holdings in shares of eBay by 1.2% during the second quarter. CENTRAL TRUST Co now owns 9,653 shares of the e-commerce company’s stock valued at $337,000 after buying an additional 110 shares during the last quarter. Finally, Boston Private Wealth LLC grew its holdings in shares of eBay by 0.7% during the second quarter. Boston Private Wealth LLC now owns 16,453 shares of the e-commerce company’s stock valued at $575,000 after buying an additional 111 shares during the last quarter. 87.23% of the stock is owned by institutional investors.
In other eBay news, SVP Marie Oh Huber sold 72,417 shares of the firm’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $37.53, for a total value of $2,717,810.01. Following the sale, the senior vice president now owns 101,589 shares of the company’s stock, valued at approximately $3,812,635.17. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Harry A. Lawton III sold 34,832 shares of the firm’s stock in a transaction on 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 directly owns 83,058 shares in the company, valued at approximately $2,907,030. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,655 shares of company stock worth $7,486,428. 6.78% of the stock is owned by corporate insiders.
EBAY has been the topic of several research reports. UBS AG set a $40.00 target price on shares of eBay and gave the stock a “buy” rating in a report on Friday, July 21st. Aegis restated a “buy” rating and set a $42.00 price objective on shares of eBay in a research report on Monday, July 17th. Maxim Group lifted their price target on shares of eBay from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Credit Suisse Group set a $44.00 price target on shares of eBay and gave the company a “buy” rating in a report on Tuesday, July 11th. Finally, Benchmark Co. lifted their price objective on shares of eBay from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, July 19th. Two equities 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 stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.45.
eBay (NASDAQ:EBAY) last released its earnings results on Wednesday, October 18th. The e-commerce company reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The business had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.37 billion. eBay had a return on equity of 15.69% and a net margin of 80.45%. eBay’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.45 earnings per share.
eBay declared 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 repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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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