US Bancorp DE Sells 10,678 Shares of eBay Inc. (EBAY)

US Bancorp DE reduced its position in shares of eBay Inc. (NASDAQ:EBAY) by 6.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,020 shares of the e-commerce company’s stock after selling 10,678 shares during the period. US Bancorp DE’s holdings in eBay were worth $5,448,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EBAY. Private Trust Co. NA increased its position in shares of eBay by 0.8% in the first quarter. Private Trust Co. NA now owns 13,691 shares of the e-commerce company’s stock worth $459,000 after buying an additional 111 shares during the period. National Pension Service increased its position in shares of eBay by 0.3% in the first quarter. National Pension Service now owns 839,853 shares of the e-commerce company’s stock worth $28,303,000 after buying an additional 2,221 shares during the period. Quadrant Capital Group LLC increased its position in shares of eBay by 3.3% in the first quarter. Quadrant Capital Group LLC now owns 5,870 shares of the e-commerce company’s stock worth $189,000 after buying an additional 187 shares during the period. Gulf International Bank UK Ltd increased its position in shares of eBay by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 338,758 shares of the e-commerce company’s stock worth $11,372,000 after buying an additional 4,400 shares during the period. Finally, Raymond James Trust N.A. increased its position in shares of eBay by 8.0% in the first quarter. Raymond James Trust N.A. now owns 28,161 shares of the e-commerce company’s stock worth $945,000 after buying an additional 2,090 shares during the period. Hedge funds and other institutional investors own 86.03% of the company’s stock.

Shares of eBay Inc. (EBAY) traded down 0.25% during mid-day trading on Friday, reaching $35.62. The company had a trading volume of 5,182,474 shares. The firm has a market capitalization of $38.12 billion, a price-to-earnings ratio of 5.34 and a beta of 1.36. The stock has a 50 day moving average of $35.51 and a 200-day moving average of $33.97. eBay Inc. has a one year low of $27.28 and a one year high of $37.48. eBay also was the target of some unusual options trading activity on Wednesday. Stock traders purchased 2,194 put options on the stock. This represents an increase of approximately 231% compared to the average volume of 663 put options.

eBay (NASDAQ:EBAY) last released its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.31 billion. eBay had a net margin of 80.93% and a return on equity of 17.50%. eBay’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. Equities analysts predict that eBay Inc. will post $2.00 EPS for the current year.

eBay declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 20th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the e-commerce company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

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EBAY has been the subject of a number of analyst reports. Citigroup Inc. reaffirmed a “buy” rating and issued a $43.00 price target (up previously from $42.00) on shares of eBay in a research report on Friday, July 21st. UBS AG set a $40.00 price target on eBay and gave the stock a “buy” rating in a research report on Friday, July 21st. Barclays PLC reaffirmed an “overweight” rating and issued a $42.00 price target (up previously from $41.00) on shares of eBay in a research report on Friday, July 21st. J P Morgan Chase & Co set a $38.00 price target on eBay and gave the stock a “neutral” rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus set a $36.00 price target on eBay and gave the stock a “neutral” rating in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seventeen have given a buy rating to the company’s stock. eBay presently has an average rating of “Hold” and an average price target of $36.91.

In related news, VP Brian J. Doerger sold 10,450 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $36.56, for a total value of $382,052.00. Following the transaction, the vice president now owns 24,001 shares in the company, valued at $877,476.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Brian J. Doerger sold 2,903 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $34.11, for a total transaction of $99,021.33. Following the completion of the transaction, the vice president now owns 30,701 shares in the company, valued at approximately $1,047,211.11. The disclosure for this sale can be found here. In the last 90 days, insiders sold 75,206 shares of company stock worth $2,659,043. 6.78% of the stock is owned by company 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.