Veritable L.P. Has $1.36 Million Holdings in eBay Inc. (EBAY)
Veritable L.P. trimmed its position in shares of eBay Inc. (NASDAQ:EBAY) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,793 shares of the e-commerce company’s stock after selling 1,033 shares during the quarter. Veritable L.P.’s holdings in eBay were worth $1,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently bought and sold shares of EBAY. BlackRock Inc. boosted its holdings in eBay by 2,424.9% during the 1st quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock worth $2,095,089,000 after acquiring an additional 59,937,723 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of eBay by 169.5% during the 1st quarter. Wellington Management Group LLP now owns 37,211,205 shares of the e-commerce company’s stock worth $1,249,180,000 after purchasing an additional 23,404,909 shares during the period. Nordea Investment Management AB raised its stake in shares of eBay by 46.7% during the 1st quarter. Nordea Investment Management AB now owns 14,928,670 shares of the e-commerce company’s stock worth $501,155,000 after purchasing an additional 4,749,434 shares during the period. Harding Loevner LP bought a new stake in shares of eBay during the 2nd quarter worth $128,878,000. Finally, Independent Franchise Partners LLP raised its stake in shares of eBay by 17.6% during the 2nd quarter. Independent Franchise Partners LLP now owns 19,322,583 shares of the e-commerce company’s stock worth $674,744,000 after purchasing an additional 2,898,085 shares during the period. 84.83% of the stock is currently owned by hedge funds and other institutional investors.
eBay Inc. (NASDAQ EBAY) opened at 37.65 on Thursday. The company has a market cap of $40.30 billion, a P/E ratio of 5.65 and a beta of 1.34. eBay Inc. has a one year low of $27.28 and a one year high of $38.87. The company’s 50 day moving average price is $36.16 and its 200-day moving average price is $34.85. eBay also was the recipient of unusually large options trading on Wednesday. Investors bought 2,194 put options on the company. This represents an increase of approximately 231% compared to the typical volume of 663 put options.
eBay (NASDAQ:EBAY) last announced its earnings results 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 analysts’ expectations of $2.31 billion. eBay had a return on equity of 17.50% and a net margin of 80.93%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. On average, analysts forecast that eBay Inc. will post $2.00 EPS for the current fiscal year.
eBay declared that its board has initiated a share buyback plan on Thursday, July 20th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of equities research analysts have recently commented on EBAY shares. Credit Suisse Group upgraded eBay from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $34.00 to $44.00 in a research note on Monday, June 5th. Robert W. Baird reiterated an “outperform” rating on shares of eBay in a research note on Monday, July 3rd. UBS AG set a $40.00 target price on eBay and gave the stock a “buy” rating in a research note on Friday, July 21st. Wells Fargo & Company reiterated an “outperform” rating and set a $45.00 target price on shares of eBay in a research note on Tuesday. Finally, BidaskClub upgraded eBay from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Three research analysts have rated the stock with a sell rating, twenty have issued a hold rating and nineteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.64.
In related news, Director Robert Holmes Swan sold 25,000 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $37.51, for a total transaction of $937,750.00. Following the completion of the transaction, the director now owns 262,119 shares in the company, valued at approximately $9,832,083.69. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 of the company’s stock, valued at approximately $877,476.56. The disclosure for this sale can be found here. In 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.
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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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