Wetherby Asset Management Inc. Lowers Stake in eBay Inc. (EBAY)
Wetherby Asset Management Inc. lowered its stake in eBay Inc. (NASDAQ:EBAY) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,588 shares of the e-commerce company’s stock after selling 262 shares during the period. Wetherby Asset Management Inc.’s holdings in eBay were worth $684,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of EBAY. General American Investors Co. Inc. raised its stake in eBay by 24.8% in the second quarter. General American Investors Co. Inc. now owns 755,000 shares of the e-commerce company’s stock valued at $26,365,000 after buying an additional 150,000 shares during the period. Joel Isaacson & Co. LLC bought a new stake in eBay during the second quarter worth about $309,000. Global X Management Co. LLC raised its stake in eBay by 49.9% in the second quarter. Global X Management Co. LLC now owns 14,048 shares of the e-commerce company’s stock worth $491,000 after buying an additional 4,677 shares during the period. HL Financial Services LLC bought a new stake in eBay during the second quarter worth about $1,281,000. Finally, BP PLC raised its stake in eBay by 39.5% in the second quarter. BP PLC now owns 113,000 shares of the e-commerce company’s stock worth $3,945,000 after buying an additional 32,000 shares during the period. Institutional investors own 86.48% of the company’s stock.
eBay Inc. (EBAY) opened at 35.05 on Friday. The company’s 50 day moving average price is $35.76 and its 200-day moving average price is $34.20. The stock has a market cap of $37.51 billion, a price-to-earnings ratio of 5.26 and a beta of 1.36. eBay Inc. has a 12-month low of $27.28 and a 12-month high of $37.48.
eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 EPS for the quarter, hitting the consensus estimate of $0.45. eBay had a net margin of 80.93% and a return on equity of 17.50%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the company earned $0.43 EPS. eBay’s revenue was up 4.4% on a year-over-year basis. On average, analysts forecast that eBay Inc. will post $2.01 EPS for the current year.
eBay announced that its Board of Directors has approved a stock repurchase program on Thursday, July 20th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have recently issued reports on the company. Citigroup Inc. restated a “buy” rating and issued a $43.00 price target (up from $42.00) on shares of eBay in a research report on Friday, July 21st. UBS AG set a $40.00 price target on eBay and gave the company a “buy” rating in a research report on Friday, July 21st. Barclays PLC restated an “overweight” rating and issued a $42.00 price target (up from $41.00) on shares of eBay in a research report on Friday, July 21st. J P Morgan Chase & Co set a $38.00 price target on eBay and gave the company a “neutral” rating in a research report on Friday, July 21st. Finally, Stifel Nicolaus set a $36.00 price target on eBay and gave the company a “neutral” rating in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $36.97.
In other news, Director Kathleen C. Mitic sold 11,897 shares of eBay stock in a transaction that occurred on Thursday, May 18th. The shares were 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 owns 20,162 shares in the company, valued at approximately $682,282.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Brian J. Doerger sold 10,450 shares of eBay stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $36.56, for a total transaction of $382,052.00. Following the sale, the vice president now owns 24,001 shares of the company’s stock, valued at approximately $877,476.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,303 shares of company stock valued at $2,560,022. 6.78% of the stock is owned by corporate insiders.
eBay Company Profile
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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