Synovus Financial Corp lifted its position in eBay Inc (NASDAQ:EBAY) by 54.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 91,305 shares of the e-commerce company’s stock after purchasing an additional 32,209 shares during the period. Synovus Financial Corp’s holdings in eBay were worth $3,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in EBAY. Valeo Financial Advisors LLC purchased a new position in shares of eBay in the 3rd quarter worth $122,000. Steward Partners Investment Advisory LLC purchased a new position in shares of eBay in the 3rd quarter worth $139,000. Grove Bank & Trust boosted its stake in shares of eBay by 455.2% in the 3rd quarter. Grove Bank & Trust now owns 3,720 shares of the e-commerce company’s stock worth $143,000 after buying an additional 3,050 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new position in shares of eBay in the 4th quarter worth $190,000. Finally, Lakeview Capital Partners LLC purchased a new position in shares of eBay in the 3rd quarter worth $204,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.
A number of equities analysts have recently issued reports on EBAY shares. SunTrust Banks restated a “hold” rating and issued a $38.00 price target on shares of eBay in a research note on Friday, November 17th. BMO Capital Markets upgraded eBay from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Monday, December 4th. Evercore ISI started coverage on eBay in a research note on Tuesday, December 5th. They issued an “in-line” rating and a $36.00 price target on the stock. They noted that the move was a valuation call. BidaskClub upgraded eBay from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Finally, Aegis restated a “buy” rating and issued a $45.00 price target on shares of eBay in a research note on Friday, December 22nd. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eighteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $42.87.
eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, January 31st. The e-commerce company reported $0.59 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.59. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. eBay had a positive return on equity of 16.82% and a negative net margin of 10.62%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share. equities research analysts predict that eBay Inc will post 1.84 EPS for the current year.
eBay declared that its Board of Directors has authorized a share buyback plan on Wednesday, January 31st that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the e-commerce company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other news, SVP Stephen Fisher sold 22,561 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $43.97, for a total transaction of $992,007.17. Following the completion of the transaction, the senior vice president now owns 95,383 shares in the company, valued at $4,193,990.51. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Devin Wenig sold 134,207 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $42.69, for a total value of $5,729,296.83. Following the transaction, the insider now owns 642,077 shares of the company’s stock, valued at approximately $27,410,267.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 168,352 shares of company stock valued at $7,171,104. Company 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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