Retirement Systems of Alabama Lowers Stake in eBay Inc. (EBAY)

Retirement Systems of Alabama reduced its stake in eBay Inc. (NASDAQ:EBAY) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 488,043 shares of the e-commerce company’s stock after selling 632 shares during the period. Retirement Systems of Alabama’s holdings in eBay were worth $17,042,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. UBS Asset Management Americas Inc. increased its position in shares of eBay by 27.8% in the first quarter. UBS Asset Management Americas Inc. now owns 3,813,013 shares of the e-commerce company’s stock valued at $128,003,000 after buying an additional 829,988 shares during the period. Menta Capital LLC acquired a new position in shares of eBay during the first quarter valued at $363,000. Pinnacle Financial Partners Inc. acquired a new position in shares of eBay during the first quarter valued at $215,000. US Bancorp DE increased its position in shares of eBay by 2.0% in the first quarter. US Bancorp DE now owns 166,698 shares of the e-commerce company’s stock valued at $5,597,000 after buying an additional 3,237 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of eBay during the first quarter valued at $13,331,000. Institutional investors own 86.48% of the company’s stock.

eBay Inc. (NASDAQ EBAY) opened at 36.11 on Tuesday. eBay Inc. has a 52-week low of $27.28 and a 52-week high of $37.48. The firm has a market capitalization of $38.65 billion, a P/E ratio of 5.42 and a beta of 1.36. The firm has a 50-day moving average price of $35.51 and a 200 day moving average price of $33.97. eBay also saw unusually large options trading on Monday. Investors bought 4,033 call options on the stock. This represents an increase of 484% compared to the average daily volume of 690 call options.

eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. The company had revenue of $2.33 billion during the quarter, compared to analyst estimates 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 firm posted $0.43 earnings per share. Analysts forecast that eBay Inc. will post $2.00 EPS for the current year.

eBay announced that its board has initiated a share repurchase plan on Thursday, July 20th that authorizes the company to repurchase $3.00 billion in 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 an indication that the company’s board believes its shares are undervalued.

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Several equities analysts recently weighed in on EBAY shares. Maxim Group reiterated a “buy” rating and issued a $36.00 price target on shares of eBay in a report on Wednesday, April 12th. Benchmark Co. increased their price target on shares of eBay from $39.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, July 19th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $41.00 price target (up previously from $40.00) on shares of eBay in a report on Sunday, July 23rd. Morgan Stanley reiterated an “underweight” rating and issued a $28.00 price target on shares of eBay in a report on Saturday, July 22nd. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $34.00 price target on shares of eBay in a report on Thursday, April 13th. Three analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have assigned a buy rating to the company. eBay currently has an average rating of “Hold” and an average price target of $36.91.

In other eBay news, Director Kathleen C. Mitic sold 11,897 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $33.84, for a total transaction of $402,594.48. Following the completion of the sale, the director now directly owns 20,162 shares in the company, valued at $682,282.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian J. Doerger sold 2,903 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $34.11, for a total value of $99,021.33. Following the sale, the vice president now owns 30,701 shares of the company’s stock, valued at $1,047,211.11. The disclosure for this sale can be found here. Insiders have sold 75,206 shares of company stock valued at $2,659,043 over the last 90 days. 6.78% of the stock is currently owned by insiders.

About eBay

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.

Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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