Traders Buy eBay Inc. (EBAY) on Weakness
Investors bought shares of eBay Inc. (NASDAQ:EBAY) on weakness during trading on Friday. $77.38 million flowed into the stock on the tick-up and $27.12 million flowed out of the stock on the tick-down, for a money net flow of $50.26 million into the stock. Of all equities tracked, eBay had the 7th highest net in-flow for the day. eBay traded down ($0.31) for the day and closed at $30.89
A number of analysts recently commented on the stock. Credit Suisse Group AG lowered their target price on shares of eBay from $29.00 to $28.00 and set a “neutral” rating for the company in a research note on Monday, April 18th. Cantor Fitzgerald reiterated a “hold” rating on shares of eBay in a research note on Saturday, July 9th. Deutsche Bank AG restated a “hold” rating on shares of eBay in a research note on Sunday, July 10th. SunTrust Banks Inc. restated a “neutral” rating and set a $26.00 price objective on shares of eBay in a research note on Wednesday, April 27th. Finally, BMO Capital Markets restated a “hold” rating on shares of eBay in a research note on Wednesday, April 27th. Two research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $32.39.
The stock has a market cap of $34.88 billion and a PE ratio of 18.99. The firm has a 50 day moving average price of $27.72 and a 200-day moving average price of $24.95.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, July 20th. The e-commerce company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. The business earned $2.23 billion during the quarter, compared to analysts’ expectations of $2.17 billion. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 EPS. Equities research analysts predict that eBay Inc. will post $1.89 EPS for the current fiscal year.
In other eBay news, CAO Brian J. Doerger sold 14,474 shares of eBay stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $24.08, for a total value of $348,533.92. Following the completion of the sale, the chief accounting officer now owns 41,846 shares in the company, valued at approximately $1,007,651.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Holmes Swan sold 50,000 shares of eBay stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $30.65, for a total value of $1,532,500.00. Following the completion of the sale, the director now owns 425,288 shares of the company’s stock, valued at approximately $13,035,077.20. The disclosure for this sale can be found here.
Other hedge funds have bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in eBay by 57.1% in the fourth quarter. Victory Capital Management Inc. now owns 42,735 shares of the e-commerce company’s stock valued at $1,174,000 after buying an additional 15,537 shares during the period. Calvert Investment Management Inc. raised its position in eBay by 32.7% in the fourth quarter. Calvert Investment Management Inc. now owns 55,128 shares of the e-commerce company’s stock valued at $1,515,000 after buying an additional 13,599 shares in the last quarter. Suntrust Banks Inc. purchased a new position in eBay during the fourth quarter valued at $1,983,000. Trexquant Investment LP raised its position in eBay by 70.4% in the fourth quarter. Trexquant Investment LP now owns 101,400 shares of the e-commerce company’s stock valued at $2,786,000 after buying an additional 41,900 shares in the last quarter. Finally, I.G. Investment Management LTD. raised its position in eBay by 25.9% in the fourth quarter. I.G. Investment Management LTD. now owns 112,546 shares of the e-commerce company’s stock valued at $3,093,000 after buying an additional 23,139 shares in the last quarter.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company helps in enabling commerce on its platforms for buyers and sellers online. The Company has an open source platform that provides software developers and merchants an access to its application programming interfaces for developing software and solutions for commerce.
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