Intact Investment Management Inc. cut its holdings in eBay Inc. (NASDAQ:EBAY) by 42.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,200 shares of the e-commerce company’s stock after selling 4,600 shares during the quarter. Intact Investment Management Inc.’s holdings in eBay were worth $238,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Trust Co. of Vermont lifted its stake in eBay by 0.3% in the second quarter. Trust Co. of Vermont now owns 13,837 shares of the e-commerce company’s stock valued at $483,000 after acquiring an additional 40 shares during the last quarter. Westside Investment Management Inc. lifted its stake in eBay by 1.7% in the second quarter. Westside Investment Management Inc. now owns 3,627 shares of the e-commerce company’s stock valued at $127,000 after acquiring an additional 60 shares during the last quarter. Usca Ria LLC lifted its stake in eBay by 1.3% in the second quarter. Usca Ria LLC now owns 7,926 shares of the e-commerce company’s stock valued at $277,000 after acquiring an additional 100 shares during the last quarter. CENTRAL TRUST Co lifted its stake in eBay by 1.2% in the second quarter. CENTRAL TRUST Co now owns 9,653 shares of the e-commerce company’s stock valued at $337,000 after acquiring an additional 110 shares during the last quarter. Finally, Boston Private Wealth LLC lifted its stake in eBay by 0.7% in the second quarter. Boston Private Wealth LLC now owns 16,453 shares of the e-commerce company’s stock valued at $575,000 after acquiring an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 87.23% of the company’s stock.

In other eBay news, SVP Harry A. Lawton III sold 34,832 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $35.00, for a total transaction of $1,219,120.00. Following the transaction, the senior vice president now owns 83,058 shares in the company, valued at approximately $2,907,030. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Holmes Swan sold 25,000 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $37.51, for a total value of $937,750.00. Following the transaction, the director now owns 262,119 shares in the company, valued at approximately $9,832,083.69. The disclosure for this sale can be found here. Insiders have sold a total of 201,655 shares of company stock valued at $7,486,428 in the last ninety days. Insiders own 6.78% of the company’s stock.

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eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Wednesday, October 18th. The e-commerce company reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. eBay had a return on equity of 15.69% and a net margin of 80.45%. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the firm posted $0.45 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis.

eBay declared that its board has authorized a stock repurchase program on Thursday, July 20th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the e-commerce company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of research firms have issued reports on EBAY. J P Morgan Chase & Co set a $38.00 target price on shares of eBay and gave the company a “neutral” rating in a research note on Friday, July 21st. BMO Capital Markets reiterated a “market perform” rating and issued a $36.00 target price on shares of eBay in a research note on Saturday, July 22nd. Canaccord Genuity reiterated a “hold” rating and issued a $34.00 target price on shares of eBay in a research note on Wednesday, September 6th. Maxim Group lifted their target price on shares of eBay from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 13th. Finally, UBS AG set a $40.00 target price on shares of eBay and gave the company a “buy” rating in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and seventeen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $38.45.

About eBay

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.

Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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