Investors Buy Shares of eBay Inc. (EBAY) on Weakness
Investors purchased shares of eBay Inc. (NASDAQ:EBAY) on weakness during trading hours on Tuesday. $56.05 million flowed into the stock on the tick-up and $16.58 million flowed out of the stock on the tick-down, for a money net flow of $39.47 million into the stock. Of all equities tracked, eBay had the 10th highest net in-flow for the day. eBay traded down ($0.21) for the day and closed at $31.36
EBAY has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “hold” rating on shares of eBay in a research note on Sunday, August 14th. Hilliard Lyons began coverage on eBay in a report on Tuesday, August 30th. They set a “long-term buy” rating and a $35.00 price target on the stock. Goldman Sachs Group Inc. set a $34.00 price target on eBay and gave the company a “buy” rating in a report on Thursday, September 8th. Citigroup Inc. reissued a “buy” rating and set a $33.00 price target on shares of eBay in a report on Tuesday, June 7th. Finally, Susquehanna reissued a “positive” rating and set a $34.00 price target (up from $32.00) on shares of eBay in a report on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.56.
The firm has a market capitalization of $35.41 billion, a PE ratio of 19.27 and a beta of 1.13. The company has a 50 day moving average price of $31.45 and a 200 day moving average price of $26.46.
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eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Wednesday, July 20th. The e-commerce company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.17 billion. eBay had a return on equity of 29.12% and a net margin of 22.00%. The business’s revenue was up 5.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.42 earnings per share. Equities research analysts predict that eBay Inc. will post $1.89 earnings per share for the current fiscal year.
In other news, VP Brian J. Doerger sold 23,958 shares of the company’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $30.56, for a total transaction of $732,156.48. Following the transaction, the vice president now owns 48,605 shares of the company’s stock, valued at $1,485,368.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jae Hyun Lee sold 11,768 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $31.00, for a total value of $364,808.00. Following the transaction, the senior vice president now directly owns 120,977 shares in the company, valued at approximately $3,750,287. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of eBay by 183.0% in the second quarter. FMR LLC now owns 21,402,518 shares of the e-commerce company’s stock valued at $501,033,000 after buying an additional 13,838,953 shares during the period. Wellington Management Group LLP raised its position in shares of eBay by 344.6% in the first quarter. Wellington Management Group LLP now owns 11,298,332 shares of the e-commerce company’s stock valued at $269,578,000 after buying an additional 8,756,950 shares during the period. Lazard Asset Management LLC raised its position in shares of eBay by 78.9% in the first quarter. Lazard Asset Management LLC now owns 16,144,360 shares of the e-commerce company’s stock valued at $385,203,000 after buying an additional 7,117,937 shares during the period. Magellan Asset Management Ltd raised its position in shares of eBay by 16.1% in the second quarter. Magellan Asset Management Ltd now owns 42,152,135 shares of the e-commerce company’s stock valued at $986,781,000 after buying an additional 5,833,160 shares during the period. Finally, Eaton Vance Management raised its position in shares of eBay by 279.0% in the second quarter. Eaton Vance Management now owns 5,687,842 shares of the e-commerce company’s stock valued at $133,152,000 after buying an additional 4,187,045 shares during the period. 82.08% of the stock is currently owned by institutional investors and hedge funds.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company helps in enabling commerce on its platforms for buyers and sellers online. The Company has an open source platform that provides software developers and merchants an access to its application programming interfaces for developing software and solutions for commerce.
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