IFP Advisors Inc Reduces Stake in eBay Inc. (EBAY)

IFP Advisors Inc decreased its position in eBay Inc. (NASDAQ:EBAY) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 10,119 shares of the e-commerce company’s stock after selling 188 shares during the period. IFP Advisors Inc’s holdings in eBay were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EBAY. Westside Investment Management Inc. boosted its position in eBay by 284.0% in the first quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock worth $121,000 after buying an additional 2,638 shares during the period. FNY Partners Fund LP boosted its position in eBay by 660.0% in the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock worth $127,000 after buying an additional 3,300 shares during the period. Parallel Advisors LLC boosted its position in eBay by 25.5% in the first quarter. Parallel Advisors LLC now owns 4,221 shares of the e-commerce company’s stock worth $140,000 after buying an additional 858 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in eBay by 100.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,450 shares of the e-commerce company’s stock worth $149,000 after buying an additional 2,230 shares during the period. Finally, First Personal Financial Services boosted its position in eBay by 611.8% in the first quarter. First Personal Financial Services now owns 4,883 shares of the e-commerce company’s stock worth $164,000 after buying an additional 4,197 shares during the period. Institutional investors own 85.71% of the company’s stock.

eBay Inc. (EBAY) opened at 35.25 on Wednesday. eBay Inc. has a 12-month low of $27.28 and a 12-month high of $37.48. The stock has a market cap of $37.73 billion, a price-to-earnings ratio of 5.29 and a beta of 1.36. The company’s 50 day moving average price is $35.76 and its 200-day moving average price is $34.30.

eBay (NASDAQ:EBAY) last released its quarterly earnings data on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, hitting the consensus estimate of $0.45. The firm 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 quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. On average, analysts forecast that eBay Inc. will post $2.01 EPS for the current year.

eBay announced that its board has authorized a stock repurchase program on Thursday, July 20th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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EBAY has been the topic of a number of research reports. Deutsche Bank AG restated a “buy” rating and set a $39.00 price target (down from $40.00) on shares of eBay in a research note on Saturday, April 22nd. Hilliard Lyons restated a “buy” rating and set a $38.50 price target (up from $36.00) on shares of eBay in a research note on Thursday, April 20th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $39.00 price target (up from $38.00) on shares of eBay in a research note on Thursday, April 20th. Benchmark Co. restated a “buy” rating and set a $39.00 price target on shares of eBay in a research note on Saturday, April 22nd. Finally, Vetr cut eBay from a “strong-buy” rating to a “buy” rating and set a $38.72 price target on the stock. in a research note on Wednesday, May 24th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seventeen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $36.97.

In related news, Director Robert Holmes Swan sold 25,000 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $35.00, for a total transaction of $875,000.00. Following the sale, the director now owns 286,562 shares in the company, valued at $10,029,670. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathleen C. Mitic sold 11,897 shares of the stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $33.84, for a total transaction of $402,594.48. Following the sale, the director now owns 20,162 shares in the company, valued at approximately $682,282.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,303 shares of company stock worth $2,560,022. 6.78% of the stock is owned by company insiders.

About eBay

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.