Dorsey & Whitney Trust CO LLC Sells 611 Shares of eBay Inc. (EBAY)
Dorsey & Whitney Trust CO LLC decreased its stake in eBay Inc. (NASDAQ:EBAY) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,982 shares of the e-commerce company’s stock after selling 611 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in eBay were worth $278,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in EBAY. Waldron LP purchased a new position in shares of eBay in the 1st quarter worth approximately $210,000. Suntrust Banks Inc. boosted its holdings in shares of eBay by 4.5% in the 1st quarter. Suntrust Banks Inc. now owns 29,459 shares of the e-commerce company’s stock worth $987,000 after purchasing an additional 1,279 shares during the period. LS Investment Advisors LLC boosted its holdings in shares of eBay by 4.4% in the 1st quarter. LS Investment Advisors LLC now owns 31,771 shares of the e-commerce company’s stock worth $1,067,000 after purchasing an additional 1,350 shares during the period. Swiss National Bank boosted its holdings in shares of eBay by 22.9% in the 1st quarter. Swiss National Bank now owns 4,123,891 shares of the e-commerce company’s stock worth $138,439,000 after purchasing an additional 767,600 shares during the period. Finally, World Asset Management Inc boosted its holdings in shares of eBay by 15.8% in the 1st quarter. World Asset Management Inc now owns 113,387 shares of the e-commerce company’s stock worth $3,806,000 after purchasing an additional 15,485 shares during the period. Hedge funds and other institutional investors own 84.91% of the company’s stock.
eBay Inc. (NASDAQ EBAY) opened at 38.40 on Friday. The company has a 50-day moving average price of $36.01 and a 200 day moving average price of $34.77. eBay Inc. has a 12 month low of $27.28 and a 12 month high of $38.87. The stock has a market capitalization of $41.10 billion, a price-to-earnings ratio of 5.76 and a beta of 1.34. eBay also was the recipient of unusually large options trading on Wednesday. Stock investors purchased 2,194 put options on the stock. This represents an increase of 231% compared to the typical volume of 663 put options.
eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. eBay had a return on equity of 17.50% and a net margin of 80.93%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the firm posted $0.43 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. Equities analysts predict that eBay Inc. will post $2.00 earnings per share for the current year.
eBay declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 20th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the e-commerce company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
In related news, Director Robert Holmes Swan sold 25,000 shares of eBay stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $37.51, for a total transaction of $937,750.00. Following the completion of the transaction, the director now directly owns 262,119 shares in the company, valued at approximately $9,832,083.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 value of $382,052.00. Following the transaction, the vice president now owns 24,001 shares of the company’s stock, valued at $877,476.56. The disclosure for this sale can be found here. Insiders have sold a total of 95,238 shares of company stock valued at $3,439,297 over the last 90 days. Insiders own 6.78% of the company’s stock.
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A number of equities analysts have recently commented on EBAY shares. Benchmark Co. lifted their target price on 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 set a $41.00 price objective (up previously from $40.00) on shares of eBay in a report on Sunday, July 23rd. Morgan Stanley restated an “underweight” rating and set a $28.00 price objective on shares of eBay in a report on Saturday, July 22nd. Robert W. Baird restated an “outperform” rating and set a $38.00 price objective on shares of eBay in a report on Thursday, July 13th. Finally, Credit Suisse Group set a $44.00 price objective on eBay and gave the company a “buy” rating in a report on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $37.24.
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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