Zurich Insurance Group Ltd FI Sells 38,071 Shares of eBay Inc. (EBAY)
Zurich Insurance Group Ltd FI decreased its holdings in eBay Inc. (NASDAQ:EBAY) by 23.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,360 shares of the e-commerce company’s stock after selling 38,071 shares during the period. Zurich Insurance Group Ltd FI’s holdings in eBay were worth $4,273,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of eBay by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 68,101,836 shares of the e-commerce company’s stock valued at $2,378,116,000 after buying an additional 1,121,890 shares in the last quarter. BlackRock Inc. boosted its holdings in eBay by 2,424.9% in the 1st quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock worth $2,095,089,000 after buying an additional 59,937,723 shares during the period. Wellington Management Group LLP boosted its holdings in eBay by 169.5% in 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 buying an additional 23,404,909 shares during the period. Independent Franchise Partners LLP boosted its holdings in eBay by 17.6% in 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 buying an additional 2,898,085 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in eBay by 2.4% in the 2nd quarter. Nordea Investment Management AB now owns 15,289,334 shares of the e-commerce company’s stock worth $533,904,000 after buying an additional 360,664 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.
eBay Inc. (NASDAQ EBAY) traded up 0.05% during trading on Tuesday, reaching $38.75. The company’s stock had a trading volume of 1,019,759 shares. The company has a market capitalization of $41.47 billion, a P/E ratio of 5.81 and a beta of 1.36. eBay Inc. has a 12-month low of $27.28 and a 12-month high of $39.05. The firm’s 50-day moving average price is $36.79 and its 200 day moving average price is $35.17. eBay also was the target of unusually large options trading on Monday. Traders purchased 4,033 call options on the company. This is an increase of approximately 484% compared to the typical daily volume of 690 call options.
eBay (NASDAQ:EBAY) last issued its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.31 billion. eBay had a net margin of 80.93% and a return on equity of 17.50%. The firm’s quarterly 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 predict that eBay Inc. will post $2.00 earnings per share for the current fiscal year.
eBay declared that its board has initiated a stock repurchase plan on Thursday, July 20th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of research firms recently weighed in on EBAY. Credit Suisse Group upgraded shares of eBay from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $34.00 to $44.00 in a research note on Monday, June 5th. Citigroup Inc. restated a “buy” rating and set a $41.00 target price (up previously from $36.00) on shares of eBay in a research report on Thursday, June 8th. Vetr upgraded eBay from a “hold” rating to a “buy” rating and set a $37.30 target price on the stock in a research report on Monday, June 12th. Robert W. Baird reaffirmed an “outperform” rating and issued a $38.00 price target on shares of eBay in a report on Monday, June 12th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating on shares of eBay in a report on Monday, June 26th. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and nineteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $37.64.
In other eBay news, SVP Stephen Fisher sold 11,956 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $36.24, for a total transaction of $433,285.44. Following the sale, the senior vice president now owns 89,740 shares of the company’s stock, valued at approximately $3,252,177.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian J. Doerger sold 10,450 shares of the 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 sale, the vice president now directly owns 24,001 shares in the company, valued at approximately $877,476.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,238 shares of company stock valued at $3,439,297. Company insiders own 6.78% of the company’s stock.
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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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