Advisors Asset Management Inc. Reduces Stake in eBay Inc (EBAY)
Advisors Asset Management Inc. cut its position in eBay Inc (NASDAQ:EBAY) by 96.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,427 shares of the e-commerce company’s stock after selling 384,563 shares during the quarter. Advisors Asset Management Inc.’s holdings in eBay were worth $16,176,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. CSat Investment Advisory L.P. acquired a new position in eBay during the 2nd quarter worth $106,000. Valeo Financial Advisors LLC acquired a new position in eBay during the 2nd quarter worth $107,000. Archford Capital Strategies LLC acquired a new position in eBay during the 1st quarter worth $116,000. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in eBay by 506.3% during the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,910 shares of the e-commerce company’s stock worth $117,000 after purchasing an additional 2,430 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in eBay by 223.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,128 shares of the e-commerce company’s stock worth $150,000 after purchasing an additional 2,850 shares in the last quarter. 84.81% of the stock is owned by institutional investors and hedge funds.
In other news, VP Brian J. Doerger sold 4,811 shares of the business’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $34.05, for a total value of $163,814.55. Following the completion of the sale, the vice president now directly owns 34,644 shares of the company’s stock, valued at approximately $1,179,628.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jae Hyun Lee sold 26,204 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $35.08, for a total value of $919,236.32. Following the completion of the sale, the senior vice president now directly owns 128,457 shares of the company’s stock, valued at $4,506,271.56. The disclosure for this sale can be found here. Insiders have sold a total of 138,158 shares of company stock valued at $4,718,578 over the last ninety days. 6.78% of the stock is owned by company insiders.
eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Wednesday, July 18th. The e-commerce company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.66 billion. eBay had a positive return on equity of 20.57% and a negative net margin of 10.05%. eBay’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.45 EPS. equities research analysts expect that eBay Inc will post 1.83 EPS for the current fiscal year.
EBAY has been the subject of several analyst reports. TheStreet raised eBay from a “c+” rating to a “b-” rating in a research note on Wednesday, September 12th. Canaccord Genuity lowered their target price on eBay from $43.00 to $40.00 and set a “hold” rating for the company in a research note on Thursday, July 19th. Wedbush reissued a “neutral” rating and set a $36.00 target price on shares of eBay in a research note on Thursday, September 13th. Morgan Stanley lowered their target price on eBay from $58.00 to $55.00 and set a “$34.11” rating for the company in a research note on Thursday, July 19th. Finally, Raymond James cut eBay from a “strong-buy” rating to an “outperform” rating and set a $51.00 target price for the company. in a research note on Thursday, July 19th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. eBay currently has an average rating of “Hold” and a consensus price target of $45.90.
eBay Company Profile
eBay Inc operates commerce platforms that connect various buyers and sellers worldwide. Its platforms enable sellers to organize and offer their inventory for sale; and buyers to find and purchase it virtually. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps and online ticket platform that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.
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