eBay Inc (EBAY) Shares Sold by Putnam Investments LLC
Putnam Investments LLC cut its stake in shares of eBay Inc (NASDAQ:EBAY) by 1.9% in the 2nd quarter, Holdings Channel reports. The firm owned 620,201 shares of the e-commerce company’s stock after selling 12,290 shares during the period. Putnam Investments LLC’s holdings in eBay were worth $22,489,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Millennium Management LLC lifted its holdings in shares of eBay by 676.0% in the 1st quarter. Millennium Management LLC now owns 6,411,341 shares of the e-commerce company’s stock worth $257,992,000 after acquiring an additional 5,585,174 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of eBay by 49.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 12,182,128 shares of the e-commerce company’s stock worth $441,723,000 after acquiring an additional 4,036,288 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in shares of eBay in the 1st quarter worth approximately $158,761,000. Summit Trail Advisors LLC lifted its holdings in shares of eBay by 3,693.0% in the 1st quarter. Summit Trail Advisors LLC now owns 2,815,531 shares of the e-commerce company’s stock worth $2,816,000 after acquiring an additional 2,741,301 shares during the last quarter. Finally, Unigestion Holding SA bought a new stake in shares of eBay in the 2nd quarter worth approximately $96,013,000. Institutional investors and hedge funds own 84.77% of the company’s stock.
A number of equities research analysts recently commented on the stock. BidaskClub upgraded shares of eBay from a “sell” rating to a “hold” rating in a report on Tuesday, June 5th. Macquarie set a $44.00 price target on shares of eBay and gave the company a “neutral” rating in a report on Tuesday, May 22nd. Monness Crespi & Hardt lowered their price target on shares of eBay from $48.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, July 19th. Citigroup reiterated a “buy” rating and set a $50.00 price target on shares of eBay in a report on Thursday, July 19th. They noted that the move was a valuation call. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of eBay in a report on Thursday, July 19th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seventeen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $45.90.
eBay (NASDAQ:EBAY) last released its earnings results on Wednesday, July 18th. The e-commerce company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. The firm had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.66 billion. eBay had a negative net margin of 10.05% and a positive return on equity of 20.57%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. analysts forecast that eBay Inc will post 1.83 earnings per share for the current year.
In other news, SVP Kristin A. Yetto sold 25,240 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $33.99, for a total value of $857,907.60. Following the sale, the senior vice president now directly owns 83,876 shares of the company’s stock, valued at approximately $2,850,945.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jae Hyun Lee sold 26,204 shares of the company’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $35.08, for a total transaction of $919,236.32. Following the completion of the sale, the senior vice president now directly owns 128,457 shares in the company, valued at $4,506,271.56. The disclosure for this sale can be found here. Insiders sold a total of 138,158 shares of company stock worth $4,718,578 over the last ninety days. Insiders own 6.22% of the company’s stock.
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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