Parnassus Investments CA reduced its stake in shares of eBay Inc (NASDAQ:EBAY) by 66.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,816,874 shares of the e-commerce company’s stock after selling 3,574,486 shares during the period. Parnassus Investments CA owned about 0.20% of eBay worth $51,000,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Clean Yield Group purchased a new position in shares of eBay in the 4th quarter worth approximately $28,000. Financial Gravity Companies Inc. purchased a new position in shares of eBay in the 4th quarter worth approximately $42,000. Benjamin F. Edwards & Company Inc. boosted its stake in shares of eBay by 22.2% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 2,349 shares of the e-commerce company’s stock worth $66,000 after buying an additional 427 shares during the last quarter. Quantamental Technologies LLC purchased a new position in shares of eBay in the 4th quarter worth approximately $125,000. Finally, Capital Investment Advisory Services LLC purchased a new position in shares of eBay in the 4th quarter worth approximately $125,000. 87.84% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:EBAY opened at $35.47 on Tuesday. The firm has a market cap of $32.42 billion, a price-to-earnings ratio of 15.34, a P/E/G ratio of 1.66 and a beta of 1.36. eBay Inc has a 1 year low of $26.01 and a 1 year high of $44.36. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.22.
eBay (NASDAQ:EBAY) last posted its earnings results on Tuesday, January 29th. The e-commerce company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.86 billion. eBay had a return on equity of 27.40% and a net margin of 23.54%. On average, analysts predict that eBay Inc will post 2.15 earnings per share for the current fiscal year.
The company also recently declared a Not Available dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Friday, March 1st will be issued a $0.14 dividend. The ex-dividend date of this dividend is Thursday, February 28th.
In related news, VP Brian J. Doerger sold 3,526 shares of the stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $28.21, for a total value of $99,468.46. Following the transaction, the vice president now owns 37,664 shares of the company’s stock, valued at $1,062,501.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brian J. Doerger sold 10,185 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $34.30, for a total transaction of $349,345.50. Following the sale, the vice president now owns 39,544 shares of the company’s stock, valued at $1,356,359.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 101,646 shares of company stock worth $2,992,510. Insiders own 6.22% of the company’s stock.
Several research firms recently commented on EBAY. TheStreet downgraded eBay from a “b-” rating to a “c+” rating in a research note on Wednesday, October 24th. Piper Jaffray Companies dropped their price objective on eBay from $40.00 to $32.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 31st. Royal Bank of Canada dropped their price objective on eBay from $34.00 to $31.00 and set a “sector perform” rating on the stock in a research note on Wednesday, October 31st. Raymond James reiterated an “outperform” rating and issued a $39.00 price objective (up previously from $35.00) on shares of eBay in a research note on Wednesday, January 30th. Finally, Bank of America reiterated a “neutral” rating and issued a $38.00 price objective (up previously from $34.00) on shares of eBay in a research note on Wednesday, January 23rd. One analyst has rated the stock with a sell rating, seventeen have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $39.13.
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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