Norinchukin Bank The Reduces Position in eBay Inc. (EBAY)
Norinchukin Bank The cut its position in shares of eBay Inc. (NASDAQ:EBAY) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 118,125 shares of the e-commerce company’s stock after selling 1,987 shares during the quarter. Norinchukin Bank The’s holdings in eBay were worth $4,125,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EBAY. Westside Investment Management Inc. boosted its position in shares of eBay by 284.0% during the first quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock valued at $121,000 after purchasing an additional 2,638 shares in the last quarter. FNY Partners Fund LP boosted its position in shares of eBay by 660.0% during the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock valued at $127,000 after purchasing an additional 3,300 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of eBay by 25.5% during the first quarter. Parallel Advisors LLC now owns 4,221 shares of the e-commerce company’s stock valued at $140,000 after purchasing an additional 858 shares in the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of eBay by 100.5% during the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,450 shares of the e-commerce company’s stock valued at $149,000 after purchasing an additional 2,230 shares in the last quarter. Finally, First Personal Financial Services boosted its position in shares of eBay by 611.8% during the first quarter. First Personal Financial Services now owns 4,883 shares of the e-commerce company’s stock valued at $164,000 after purchasing an additional 4,197 shares in the last quarter. Institutional investors own 84.91% of the company’s stock.
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eBay Inc. (EBAY) traded up 0.55% during midday trading on Wednesday, hitting $38.39. The company had a trading volume of 1,770,965 shares. The firm has a market capitalization of $41.09 billion, a P/E ratio of 5.76 and a beta of 1.34. The company has a 50 day moving average price of $35.80 and a 200 day moving average price of $34.66. eBay Inc. has a 1-year low of $27.28 and a 1-year high of $38.50.
eBay (NASDAQ:EBAY) last posted 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 company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm posted $0.43 EPS. eBay’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts forecast that eBay Inc. will post $2.00 earnings per share for the current fiscal year.
eBay declared that its Board of Directors has authorized a stock buyback program 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 purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.
Several equities research analysts recently weighed in on EBAY shares. Goldman Sachs Group, Inc. (The) set a $42.00 price target on eBay and gave the company a “buy” rating in a research report on Wednesday, June 28th. Aegis lifted their price target on eBay from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, June 27th. Citigroup Inc. restated a “buy” rating and set a $41.00 price target (up from $36.00) on shares of eBay in a research report on Thursday, June 8th. Credit Suisse Group upgraded eBay from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $34.00 to $44.00 in a research report on Monday, June 5th. Finally, Morgan Stanley set a $29.00 price target on eBay and gave the company a “sell” rating in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have assigned a buy rating to the company. eBay presently has an average rating of “Hold” and a consensus target price of $37.05.
In related news, SVP Stephen Fisher sold 11,956 shares of eBay stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $36.24, for a total value of $433,285.44. Following the sale, the senior vice president now directly owns 89,740 shares in the company, valued at approximately $3,252,177.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Harry A. Lawton III sold 34,832 shares of eBay stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $35.00, for a total value of $1,219,120.00. Following the completion of the sale, the senior vice president now owns 83,058 shares in the company, valued at $2,907,030. The disclosure for this sale can be found here. Over the last quarter, insiders sold 95,238 shares of company stock worth $3,439,297. 6.78% of the stock is currently owned by 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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