First Mercantile Trust Co. Has $2.32 Million Stake in eBay Inc. (NASDAQ:EBAY)
First Mercantile Trust Co. lowered its position in eBay Inc. (NASDAQ:EBAY) by 28.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,558 shares of the e-commerce company’s stock after selling 25,975 shares during the period. First Mercantile Trust Co.’s holdings in eBay were worth $2,324,000 at the end of the most recent reporting period.
Other hedge funds 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 in 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 in the last quarter. Boston Partners raised its stake in eBay by 1.9% in the first quarter. Boston Partners now owns 29,574,853 shares of the e-commerce company’s stock worth $992,828,000 after buying an additional 544,112 shares in the last quarter. Independent Franchise Partners LLP raised its stake in eBay by 17.6% in the second quarter. Independent Franchise Partners LLP now owns 19,322,583 shares of the e-commerce company’s stock worth $674,744,000 after buying an additional 2,898,085 shares in the last quarter. Finally, 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 in the last quarter. Institutional investors own 86.48% of the company’s stock.
eBay Inc. (EBAY) opened at 34.99 on Friday. The stock has a market capitalization of $37.45 billion, a price-to-earnings ratio of 5.25 and a beta of 1.36. The firm has a 50-day moving average of $35.77 and a 200-day moving average of $34.17. eBay Inc. has a 1-year low of $27.28 and a 1-year high of $37.48.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. eBay had a net margin of 80.93% and a return on equity of 17.50%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the firm posted $0.43 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts anticipate that eBay Inc. will post $2.01 EPS for the current year.
eBay declared that its board has initiated a share buyback program on Thursday, July 20th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the e-commerce company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
A number of analysts have weighed in on EBAY shares. Credit Suisse Group upgraded eBay from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $34.00 to $44.00 in a report on Monday, June 5th. Robert W. Baird restated an “outperform” rating on shares of eBay in a report on Monday, July 3rd. UBS AG set a $40.00 target price on eBay and gave the stock a “buy” rating in a report on Friday, July 21st. Royal Bank Of Canada restated a “hold” rating and set a $34.00 target price on shares of eBay in a report on Thursday, April 13th. Finally, BidaskClub upgraded eBay from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seventeen have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $36.97.
In other news, SVP Stephen Fisher sold 11,956 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $36.24, for a total value of $433,285.44. Following the transaction, the senior vice president now directly owns 89,740 shares in the company, valued at approximately $3,252,177.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Harry A. Lawton III sold 13,000 shares of the firm’s 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 completion of the transaction, 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. Over the last 90 days, insiders sold 72,303 shares of company stock worth $2,560,022. 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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