Pioneer Investment Management Inc. Reduces Stake in eBay Inc. (EBAY)
Pioneer Investment Management Inc. cut its position in eBay Inc. (NASDAQ:EBAY) by 7.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,271,685 shares of the e-commerce company’s stock after selling 412,861 shares during the period. Pioneer Investment Management Inc. owned 0.49% of eBay worth $184,087,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the company. UBS Asset Management Americas Inc. boosted its stake in 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 worth $128,003,000 after buying an additional 829,988 shares during the last quarter. Menta Capital LLC bought a new stake in eBay during the first quarter worth approximately $363,000. Pinnacle Financial Partners Inc. bought a new stake in eBay during the first quarter worth approximately $215,000. US Bancorp DE boosted its stake in eBay by 2.0% in the first quarter. US Bancorp DE now owns 166,698 shares of the e-commerce company’s stock worth $5,597,000 after buying an additional 3,237 shares during the last quarter. Finally, Virginia Retirement Systems ET AL bought a new stake in eBay during the first quarter worth approximately $13,331,000. Institutional investors and hedge funds own 86.48% of the company’s stock.
eBay Inc. (NASDAQ:EBAY) opened at 36.36 on Wednesday. eBay Inc. has a 1-year low of $27.28 and a 1-year high of $37.48. The firm has a 50-day moving average of $35.51 and a 200-day moving average of $33.97. The stock has a market cap of $38.92 billion, a PE ratio of 5.45 and a beta of 1.36. eBay also was the recipient of some unusual options trading activity on Monday. Stock traders purchased 4,033 call options on the stock. This represents an increase of approximately 484% compared to the average volume of 690 call options.
eBay (NASDAQ:EBAY) last released its quarterly earnings data on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.45. The firm 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 company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 earnings per share. Analysts expect that eBay Inc. will post $2.00 EPS for the current fiscal year.
eBay announced that its board has initiated a stock repurchase plan on Thursday, July 20th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.
EBAY has been the subject of a number of research reports. Maxim Group restated a “buy” rating and issued a $36.00 price target on shares of eBay in a report on Wednesday, April 12th. Benchmark Co. raised 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 restated a “positive” rating and issued a $41.00 price target (up from $40.00) on shares of eBay in a report on Sunday, July 23rd. Morgan Stanley restated 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 restated a “hold” rating and issued a $34.00 price target on shares of eBay in a report on Thursday, April 13th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $36.97.
In other news, Director Robert Holmes Swan sold 25,000 shares of eBay stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $35.00, for a total transaction of $875,000.00. Following the sale, the director now owns 286,562 shares in the company, valued at $10,029,670. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Brian J. Doerger sold 2,903 shares of eBay stock in a transaction that occurred 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 quarter, insiders have sold 75,206 shares of company stock worth $2,659,043. Company 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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