Prudential Financial Inc. Sells 4,357 Shares of eBay Inc. (EBAY)
Prudential Financial Inc. trimmed its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,398,466 shares of the e-commerce company’s stock after selling 4,357 shares during the period. Prudential Financial Inc. owned approximately 0.13% of eBay worth $53,785,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in EBAY. Captrust Financial Advisors purchased a new position in eBay in the 2nd quarter worth approximately $108,000. BB&T Investment Services Inc. purchased a new position in eBay in the 2nd quarter worth approximately $119,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in eBay in the 2nd quarter worth approximately $123,000. Westside Investment Management Inc. raised its holdings in eBay by 1.7% in the 2nd quarter. Westside Investment Management Inc. now owns 3,627 shares of the e-commerce company’s stock worth $127,000 after acquiring an additional 60 shares during the last quarter. Finally, GWM Advisors LLC purchased a new position in eBay in the 2nd quarter worth approximately $157,000. Hedge funds and other institutional investors own 87.29% of the company’s stock.
In related news, SVP Harry A. Lawton III sold 34,832 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 83,058 shares of the company’s stock, valued at approximately $2,907,030. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marie Oh Huber sold 72,417 shares of the stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $37.53, for a total transaction of $2,717,810.01. Following the completion of the sale, the senior vice president now directly owns 101,589 shares in the company, valued at $3,812,635.17. The disclosure for this sale can be found here. Insiders sold a total of 201,655 shares of company stock worth $7,486,428 over the last three months. 6.78% of the stock is currently owned by corporate insiders.
A number of brokerages recently weighed in on EBAY. Guggenheim began coverage on shares of eBay in a report on Friday, October 20th. They issued a “neutral” rating for the company. Bank of America Corporation boosted their price objective on shares of eBay from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Benchmark Co. restated a “buy” rating and issued a $45.00 price objective on shares of eBay in a report on Thursday, October 19th. SunTrust Banks, Inc. began coverage on shares of eBay in a report on Tuesday, August 15th. They issued a “hold” rating and a $38.00 price objective for the company. Finally, Morgan Stanley set a $34.00 price objective on shares of eBay and gave the stock a “sell” rating in a report on Thursday, October 19th. Two investment analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and seventeen have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $38.45.
Shares of eBay Inc. (NASDAQ:EBAY) opened at $35.97 on Friday. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.82. The stock has a market cap of $37,280.74, a PE ratio of 22.31, a PEG ratio of 2.74 and a beta of 1.36. eBay Inc. has a 1 year low of $27.28 and a 1 year high of $39.28.
eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Wednesday, October 18th. The e-commerce company reported $0.48 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.48. eBay had a net margin of 80.45% and a return on equity of 15.69%. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the company posted $0.45 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. sell-side analysts anticipate that eBay Inc. will post 1.65 earnings per share for the current fiscal year.
eBay announced that its board has authorized a share 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 purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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.
Want to see what other hedge funds are holding EBAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for eBay Inc. (NASDAQ:EBAY).
Receive News & Ratings for eBay Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for eBay Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.