Sequoia Financial Advisors LLC Raises Position in eBay Inc. (EBAY)
Sequoia Financial Advisors LLC increased its position in eBay Inc. (NASDAQ:EBAY) by 22.4% during the second quarter, Holdings Channel reports. The institutional investor owned 14,637 shares of the e-commerce company’s stock after buying an additional 2,675 shares during the period. Sequoia Financial Advisors LLC’s holdings in eBay were worth $343,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of EBAY. Virginia Retirement System bought a new position in eBay during the first quarter worth about $418,000. Credit Agricole S A boosted its position in shares of eBay by 179.2% in the first quarter. Credit Agricole S A now owns 938,596 shares of the e-commerce company’s stock valued at $22,395,000 after buying an additional 602,421 shares during the period. BB&T Securities LLC boosted its position in shares of eBay by 2.2% in the first quarter. BB&T Securities LLC now owns 104,128 shares of the e-commerce company’s stock valued at $2,484,000 after buying an additional 2,198 shares during the period. Cypress Capital Management LLC boosted its position in shares of eBay by 0.4% in the first quarter. Cypress Capital Management LLC now owns 133,811 shares of the e-commerce company’s stock valued at $3,193,000 after buying an additional 516 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of eBay during the first quarter valued at about $691,000. 82.07% of the stock is owned by institutional investors and hedge funds.
eBay Inc. (NASDAQ:EBAY) traded down 0.53% on Tuesday, reaching $31.64. 12,505,385 shares of the company’s stock traded hands. The stock has a 50-day moving average of $32.01 and a 200 day moving average of $27.54. eBay Inc. has a 52 week low of $21.52 and a 52 week high of $33.19. The firm has a market capitalization of $35.72 billion, a P/E ratio of 19.45 and a beta of 1.17.
eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Wednesday, July 20th. The e-commerce company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. eBay had a net margin of 22.00% and a return on equity of 29.12%. The company earned $2.23 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts expect that eBay Inc. will post $1.89 EPS for the current fiscal year.
Several brokerages recently issued reports on EBAY. Cantor Fitzgerald reissued a “hold” rating on shares of eBay in a report on Saturday, July 9th. Deutsche Bank AG reissued a “hold” rating on shares of eBay in a report on Sunday, July 10th. Jefferies Group reissued a “hold” rating and set a $32.00 target price on shares of eBay in a report on Monday, July 18th. Canaccord Genuity raised their target price on shares of eBay from $27.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, July 21st. Finally, Robert W. Baird raised their target price on shares of eBay from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, July 21st. Three analysts have rated the stock with a sell rating, twenty-two have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. eBay currently has an average rating of “Hold” and an average price target of $33.95.
In other eBay news, Director Robert Holmes Swan sold 50,000 shares of the business’s 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 sale, the director now directly owns 425,288 shares in the company, valued at $13,035,077.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jae Hyun Lee sold 3,222 shares of the business’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $31.53, for a total transaction of $101,589.66. Following the completion of the sale, the senior vice president now owns 107,154 shares in the company, valued at $3,378,565.62. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.
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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