US Bancorp DE Boosts Holdings in eBay Inc. (EBAY)
US Bancorp DE raised its position in shares of eBay Inc. (NASDAQ:EBAY) by 3.4% during the 4th quarter, HoldingsChannel reports. The fund owned 147,515 shares of the e-commerce company’s stock after acquiring an additional 4,828 shares during the period. US Bancorp DE’s holdings in eBay were worth $5,567,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of EBAY. BB&T Investment Services Inc. purchased a new position in shares of eBay during the second quarter valued at approximately $119,000. Valeo Financial Advisors LLC purchased a new position in shares of eBay during the third quarter valued at approximately $122,000. Steward Partners Investment Advisory LLC purchased a new position in shares of eBay during the third quarter valued at approximately $139,000. Grove Bank & Trust lifted its holdings in shares of eBay by 455.2% during the third quarter. Grove Bank & Trust now owns 3,720 shares of the e-commerce company’s stock valued at $143,000 after purchasing an additional 3,050 shares during the last quarter. Finally, Lakeview Capital Partners LLC purchased a new position in shares of eBay during the third quarter valued at approximately $204,000. 85.84% of the stock is currently owned by institutional investors and hedge funds.
In other eBay news, SVP Raymond J. Pittman sold 31,400 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $35.58, for a total transaction of $1,117,212.00. Following the completion of the sale, the senior vice president now directly owns 74,334 shares in the company, valued at approximately $2,644,803.72. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Brian J. Doerger sold 6,660 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $35.99, for a total transaction of $239,693.40. Following the sale, the vice president now owns 16,732 shares of the company’s stock, valued at $602,184.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,752 shares of company stock valued at $8,288,316. Company insiders own 6.78% of the company’s stock.
eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, January 31st. The e-commerce company reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. The business had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. eBay had a negative net margin of 10.62% and a positive return on equity of 16.82%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. equities research analysts predict that eBay Inc. will post 1.84 earnings per share for the current year.
eBay announced that its Board of Directors has initiated a share repurchase plan on Wednesday, January 31st that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the e-commerce company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several equities analysts have recently issued reports on the stock. Stifel Nicolaus lifted their target price on shares of eBay from $37.00 to $41.00 and gave the company a “hold” rating in a report on Thursday, February 1st. UBS Group reiterated a “buy” rating and set a $48.00 target price (up from $44.00) on shares of eBay in a report on Thursday, February 1st. Bank of America lifted their target price on shares of eBay from $44.00 to $52.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Canaccord Genuity reiterated a “hold” rating and set a $43.00 target price on shares of eBay in a report on Thursday, February 1st. Finally, Barclays set a $49.00 target price on shares of eBay and gave the company a “buy” rating in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eighteen have issued a buy rating to the stock. eBay currently has an average rating of “Hold” and a consensus price target of $42.87.
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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