Parkwood LLC bought a new stake in shares of eBay Inc. (NASDAQ:EBAY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,164 shares of the e-commerce company’s stock, valued at approximately $320,000.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. raised its position in shares of eBay by 2,424.9% in the first quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock valued at $2,095,089,000 after buying an additional 59,937,723 shares during the period. Wellington Management Group LLP raised its position in shares of 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 valued at $1,249,180,000 after buying an additional 23,404,909 shares during the period. Boston Partners raised its position in shares of eBay by 1.9% in the first quarter. Boston Partners now owns 29,574,853 shares of the e-commerce company’s stock valued at $992,828,000 after buying an additional 544,112 shares during the period. Nordea Investment Management AB raised its position in shares of 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 valued at $501,155,000 after buying an additional 4,749,434 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of eBay by 4.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 13,700,034 shares of the e-commerce company’s stock valued at $459,911,000 after buying an additional 604,985 shares during the period. 86.03% of the stock is currently owned by institutional investors.
eBay Inc. (EBAY) traded down 0.25% during mid-day trading on Thursday, hitting $35.81. 2,658,161 shares of the stock were exchanged. The stock has a 50 day moving average price of $35.51 and a 200 day moving average price of $33.97. The company has a market capitalization of $38.33 billion, a PE ratio of 5.37 and a beta of 1.36. eBay Inc. has a 1-year low of $27.28 and a 1-year high of $37.48. eBay also saw unusually large options trading on Wednesday. Stock investors acquired 2,194 put options on the company. This is an increase of 231% compared to the average volume of 663 put options.
eBay (NASDAQ:EBAY) last issued its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. eBay had a return on equity of 17.50% and a net margin of 80.93%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the firm earned $0.43 earnings per share. eBay’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts anticipate that eBay Inc. will post $2.00 earnings per share for the current fiscal year.
eBay declared that its Board of Directors has authorized 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 shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
Several research analysts have recently issued reports on EBAY shares. Credit Suisse Group raised shares of eBay from a “neutral” rating to an “outperform” rating and raised their target price for the company from $34.00 to $44.00 in a research note on Monday, June 5th. Robert W. Baird reaffirmed an “outperform” rating on shares of eBay in a research note on Monday, July 3rd. UBS AG set a $40.00 target price on shares of eBay and gave the company a “buy” rating in a research note on Friday, July 21st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $34.00 target price on shares of eBay in a research note on Thursday, April 13th. Finally, BidaskClub raised shares of eBay from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and seventeen have given a buy rating to the stock. eBay has an average rating of “Hold” and a consensus price target of $36.91.
In other news, Director Robert Holmes Swan sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $35.00, for a total transaction of $875,000.00. Following the transaction, the director now directly owns 286,562 shares of the company’s stock, valued at $10,029,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen C. Mitic sold 11,897 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $33.84, for a total value of $402,594.48. Following the transaction, the director now directly owns 20,162 shares in the company, valued at $682,282.08. The disclosure for this sale can be found here. Insiders have sold 75,206 shares of company stock worth $2,659,043 over the last ninety days. 6.78% of the stock is owned by 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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