Dodge & Cox Reduces Stake in eBay Inc. (EBAY)
Dodge & Cox decreased its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 27.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,696 shares of the e-commerce company’s stock after selling 75,861 shares during the quarter. Dodge & Cox’s holdings in eBay were worth $7,043,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Captrust Financial Advisors purchased a new stake in shares of eBay in the second quarter valued at about $108,000. Westside Investment Management Inc. grew its holdings in shares of eBay by 284.0% in the first quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock valued at $121,000 after purchasing an additional 2,638 shares during the period. FNY Partners Fund LP grew its holdings in shares of eBay by 660.0% in the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock valued at $127,000 after purchasing an additional 3,300 shares during the period. Parallel Advisors LLC grew its holdings in shares of eBay by 25.5% in the first quarter. Parallel Advisors LLC now owns 4,221 shares of the e-commerce company’s stock valued at $140,000 after purchasing an additional 858 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. grew its holdings in shares of 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 valued at $149,000 after purchasing an additional 2,230 shares during the period. 84.83% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the stock. Aegis reissued a “buy” rating and issued a $44.00 price objective (up previously from $42.00) on shares of eBay in a report on Tuesday. DA Davidson assumed coverage on shares of eBay in a report on Wednesday, September 13th. They issued a “buy” rating and a $45.00 price objective for the company. Benchmark Co. reissued a “buy” rating and issued a $45.00 price objective (up previously from $40.00) on shares of eBay in a report on Friday. BMO Capital Markets reissued a “hold” rating on shares of eBay in a report on Wednesday, September 13th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $43.00 price objective (up previously from $42.00) on shares of eBay in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $37.44.
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Shares of eBay Inc. (NASDAQ:EBAY) opened at 38.29 on Friday. eBay Inc. has a one year low of $27.28 and a one year high of $38.87. The firm has a market capitalization of $40.98 billion, a P/E ratio of 5.74 and a beta of 1.34. The company’s 50 day moving average price is $36.16 and its 200 day moving average price is $34.85.
eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Thursday, July 20th. The e-commerce company reported $0.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.45. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. eBay had a return on equity of 17.50% and a net margin of 80.93%. The firm’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS. On average, analysts expect that eBay Inc. will post $2.00 EPS for the current fiscal year.
eBay declared that its board has initiated a stock buyback program on Thursday, July 20th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the e-commerce company to buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In related news, VP Brian J. Doerger sold 10,450 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $36.56, for a total transaction of $382,052.00. Following the completion of the transaction, the vice president now directly owns 24,001 shares in the company, valued at approximately $877,476.56. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert Holmes Swan sold 25,000 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $37.51, for a total value of $937,750.00. Following the transaction, the director now owns 262,119 shares of the company’s stock, valued at $9,832,083.69. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,238 shares of company stock valued at $3,439,297. 6.78% of the stock is owned by company insiders.
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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