HighTower Advisors LLC lowered its position in shares of eBay Inc. (NASDAQ:EBAY) by 1.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,607 shares of the e-commerce company’s stock after selling 501 shares during the period. HighTower Advisors LLC’s holdings in eBay were worth $893,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Westside Investment Management Inc. raised its position 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 buying an additional 2,638 shares during the last quarter. Parallel Advisors LLC raised its position 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 buying an additional 858 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position 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 buying an additional 2,230 shares during the last quarter. First Personal Financial Services raised its position in shares of eBay by 611.8% in the first quarter. First Personal Financial Services now owns 4,883 shares of the e-commerce company’s stock valued at $164,000 after buying an additional 4,197 shares during the last quarter. Finally, Alpha Windward LLC raised its position in shares of eBay by 1.1% in the first quarter. Alpha Windward LLC now owns 5,531 shares of the e-commerce company’s stock valued at $186,000 after buying an additional 59 shares during the last quarter. Institutional investors own 85.02% of the company’s stock.
Shares of eBay Inc. (NASDAQ:EBAY) traded down 1.53% on Friday, reaching $36.61. 22,222,085 shares of the company were exchanged. eBay Inc. has a 12-month low of $27.28 and a 12-month high of $37.48. The firm has a 50 day moving average price of $35.28 and a 200-day moving average price of $33.60. The stock has a market capitalization of $39.62 billion, a PE ratio of 5.27 and a beta of 1.36. eBay also was the target of unusually large options trading activity on Wednesday. Traders purchased 2,194 put options on the stock. This represents an increase of 231% compared to the typical daily volume of 663 put options.
eBay (NASDAQ:EBAY) last posted 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. eBay had a net margin of 80.93% and a return on equity of 18.32%. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the company posted $0.43 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts predict that eBay Inc. will post $2.01 EPS for the current fiscal year.
eBay announced that its Board of Directors has initiated a share repurchase program on Thursday, July 20th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the e-commerce company to buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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Several brokerages have recently commented on EBAY. Macquarie reiterated a “neutral” rating and issued a $39.00 target price on shares of eBay in a research report on Tuesday, April 18th. Credit Suisse Group AG upgraded eBay to a “buy” rating and set a $44.00 target price for the company in a research report on Monday, June 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $35.00 target price on shares of eBay in a research report on Friday, April 14th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $39.00 target price (up previously from $38.00) on shares of eBay in a research report on Thursday, April 20th. Finally, Bank of America Corporation lifted their target price on eBay from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. eBay has a consensus rating of “Hold” and an average target price of $36.58.
In other news, SVP Stephen Fisher sold 33,008 shares of the firm’s stock in a transaction on Monday, April 24th. The shares were sold at an average price of $32.35, for a total transaction of $1,067,808.80. Following the sale, the senior vice president now owns 109,468 shares in the company, valued at approximately $3,541,289.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brian J. Doerger sold 2,903 shares of the firm’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $34.11, for a total transaction of $99,021.33. Following the sale, the vice president now owns 30,701 shares in the company, valued at approximately $1,047,211.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,712 shares of company stock worth $2,877,612. Corporate insiders own 6.78% of the company’s stock.
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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