Wealthfront Inc. Has $690,000 Stake in eBay Inc. (EBAY)
Wealthfront Inc. increased its stake in eBay Inc. (NASDAQ:EBAY) by 13.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,766 shares of the e-commerce company’s stock after acquiring an additional 2,384 shares during the period. Wealthfront Inc.’s holdings in eBay were worth $690,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in eBay by 2,424.9% in the first quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock valued at $2,095,089,000 after buying an additional 59,937,723 shares during the last quarter. Wellington Management Group LLP increased its holdings in eBay by 169.5% in the first quarter. Wellington Management Group LLP now owns 37,211,205 shares of the e-commerce company’s stock valued at $1,249,180,000 after buying an additional 23,404,909 shares during the last quarter. Nordea Investment Management AB increased its holdings in eBay by 46.7% in the first quarter. Nordea Investment Management AB now owns 14,928,670 shares of the e-commerce company’s stock valued at $501,155,000 after buying an additional 4,749,434 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in eBay by 17.6% in the second quarter. Independent Franchise Partners LLP now owns 19,322,583 shares of the e-commerce company’s stock valued at $674,744,000 after buying an additional 2,898,085 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in eBay in the first quarter valued at $96,616,000. Institutional investors and hedge funds own 84.83% of the company’s stock.
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In other eBay news, SVP Stephen Fisher sold 11,956 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $36.24, for a total value of $433,285.44. Following the transaction, the senior vice president now owns 89,740 shares in the company, valued at approximately $3,252,177.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brian J. Doerger sold 10,450 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $36.56, for a total transaction of $382,052.00. Following the completion of the transaction, the vice president now owns 24,001 shares in the company, valued at approximately $877,476.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,238 shares of company stock valued at $3,439,297. 6.78% of the stock is owned by insiders.
eBay Inc. (NASDAQ EBAY) traded down 0.05% during mid-day trading on Friday, reaching $38.23. 1,130,392 shares of the company’s stock traded hands. The company has a market capitalization of $40.92 billion, a price-to-earnings ratio of 5.74 and a beta of 1.34. The company has a 50-day moving average of $36.16 and a 200-day moving average of $34.85. eBay Inc. has a 52-week low of $27.28 and a 52-week high of $38.87.
eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. eBay had a net margin of 80.93% and a return on equity of 17.50%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. Equities research analysts expect that eBay Inc. will post $2.00 EPS for the current year.
eBay declared that its board has authorized a stock buyback plan on Thursday, July 20th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
Several research firms recently commented on EBAY. Benchmark Co. reissued a “buy” rating and issued a $45.00 target price (up previously from $40.00) on shares of eBay in a report on Friday. BidaskClub lowered eBay from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Mizuho reissued an “underperform” rating and issued a $34.00 target price on shares of eBay in a report on Monday, August 7th. SunTrust Banks, Inc. initiated coverage on eBay in a report on Tuesday, August 15th. They issued a “hold” rating and a $38.00 target price on the stock. Finally, Aegis reaffirmed a “buy” rating and set a $44.00 price objective (up previously from $42.00) on shares of eBay in a report on Tuesday. 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 stock currently has an average rating of “Hold” and a consensus target price of $37.44.
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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