Westpac Banking Corp Grows Holdings in eBay Inc (NASDAQ:EBAY)

Westpac Banking Corp raised its position in eBay Inc (NASDAQ:EBAY) by 11.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 295,836 shares of the e-commerce company’s stock after buying an additional 30,625 shares during the period. Westpac Banking Corp’s holdings in eBay were worth $11,686,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EBAY. Dimensional Fund Advisors LP increased its holdings in eBay by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,415,911 shares of the e-commerce company’s stock valued at $95,893,000 after buying an additional 61,280 shares in the last quarter. Geode Capital Management LLC increased its holdings in eBay by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 12,491,124 shares of the e-commerce company’s stock valued at $350,041,000 after buying an additional 801,529 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in eBay by 57.0% in the first quarter. Valeo Financial Advisors LLC now owns 2,742 shares of the e-commerce company’s stock valued at $102,000 after buying an additional 996 shares in the last quarter. Raymond James Trust N.A. increased its holdings in eBay by 27.2% in the first quarter. Raymond James Trust N.A. now owns 17,794 shares of the e-commerce company’s stock valued at $661,000 after buying an additional 3,806 shares in the last quarter. Finally, Paragon Capital Management LLC purchased a new position in eBay in the first quarter valued at $28,000. 89.00% of the stock is owned by institutional investors.

Several analysts have recently issued reports on EBAY shares. Credit Suisse Group lifted their target price on shares of eBay from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Robert W. Baird lifted their target price on shares of eBay from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. BMO Capital Markets lifted their target price on shares of eBay from $45.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Benchmark lifted their target price on shares of eBay from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, ValuEngine lowered shares of eBay from a “hold” rating to a “sell” rating in a research report on Tuesday, August 6th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $41.52.

In other news, CAO Brian J. Doerger sold 19,014 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $41.38, for a total value of $786,799.32. Following the sale, the chief accounting officer now directly owns 24,844 shares of the company’s stock, valued at approximately $1,028,044.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jae Hyun Lee sold 48,111 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $41.92, for a total transaction of $2,016,813.12. Following the completion of the sale, the senior vice president now directly owns 197,247 shares in the company, valued at $8,268,594.24. The disclosure for this sale can be found here. Insiders sold a total of 258,098 shares of company stock worth $10,603,043 over the last quarter. 5.60% of the stock is currently owned by company insiders.

NASDAQ:EBAY traded down $1.08 on Wednesday, hitting $39.90. The stock had a trading volume of 288,289 shares, compared to its average volume of 10,498,133. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.31 and a current ratio of 1.31. The firm has a market capitalization of $33.81 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.92 and a beta of 1.37. The stock has a fifty day moving average price of $40.17. eBay Inc has a 1-year low of $26.01 and a 1-year high of $42.00.

eBay (NASDAQ:EBAY) last posted its earnings results on Wednesday, July 17th. The e-commerce company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.19. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.67 billion. eBay had a net margin of 22.12% and a return on equity of 36.67%. eBay’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. Analysts forecast that eBay Inc will post 2.22 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 3rd will be issued a $0.14 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.56 annualized dividend and a yield of 1.40%. eBay’s payout ratio is 24.14%.

About eBay

eBay Inc operates commerce platforms connecting various buyers and sellers worldwide. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay suite of mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.

Further Reading: Do stock splits help investors?

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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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