Bank of New York Mellon Corp Reduces Holdings in eBay Inc. $EBAY

Bank of New York Mellon Corp lowered its position in shares of eBay Inc. (NASDAQ:EBAY) by 1.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,534,420 shares of the e-commerce company’s stock after selling 49,625 shares during the period. Bank of New York Mellon Corp’s holdings in eBay were worth $321,456,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in EBAY. Verdence Capital Advisors LLC raised its position in shares of eBay by 71.2% in the second quarter. Verdence Capital Advisors LLC now owns 17,447 shares of the e-commerce company’s stock valued at $1,299,000 after buying an additional 7,256 shares during the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC purchased a new stake in eBay in the 3rd quarter valued at about $770,000. Teacher Retirement System of Texas increased its stake in shares of eBay by 2.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 171,040 shares of the e-commerce company’s stock valued at $12,736,000 after acquiring an additional 3,374 shares during the last quarter. Savant Capital LLC lifted its holdings in shares of eBay by 19.4% during the 2nd quarter. Savant Capital LLC now owns 24,229 shares of the e-commerce company’s stock worth $1,804,000 after acquiring an additional 3,933 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of eBay by 13.7% in the third quarter. Cerity Partners LLC now owns 131,693 shares of the e-commerce company’s stock worth $11,977,000 after acquiring an additional 15,818 shares during the last quarter. 87.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on EBAY shares. B. Riley upped their price target on shares of eBay from $94.00 to $96.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. The Goldman Sachs Group cut their target price on eBay from $78.00 to $77.00 and set a “sell” rating on the stock in a research report on Wednesday, January 14th. TD Cowen reissued a “hold” rating on shares of eBay in a research report on Monday, October 20th. President Capital decreased their price objective on shares of eBay from $103.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, December 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of eBay from $96.00 to $100.00 in a research note on Thursday, October 30th. Fourteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $95.66.

eBay Trading Down 0.8%

EBAY opened at $94.41 on Friday. The firm’s 50 day moving average is $87.33 and its 200-day moving average is $88.82. eBay Inc. has a 52-week low of $58.71 and a 52-week high of $101.15. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $42.67 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.21 and a beta of 1.35.

eBay (NASDAQ:EBAY) last released its quarterly earnings results on Wednesday, October 29th. The e-commerce company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.03. eBay had a net margin of 20.37% and a return on equity of 41.94%. The firm had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.73 billion. During the same quarter in the previous year, the firm posted $1.19 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Analysts expect that eBay Inc. will post 3.86 EPS for the current fiscal year.

Insider Buying and Selling at eBay

In other eBay news, SVP Jordan Douglas Bradle Sweetnam sold 865 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $82.67, for a total transaction of $71,509.55. Following the completion of the sale, the senior vice president owned 4,733 shares in the company, valued at $391,277.11. This trade represents a 15.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cornelius Boone sold 4,462 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $83.94, for a total value of $374,540.28. Following the completion of the transaction, the senior vice president directly owned 91,921 shares in the company, valued at approximately $7,715,848.74. The trade was a 4.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 53,675 shares of company stock valued at $4,388,825. Company insiders own 0.64% of the company’s stock.

About eBay

eBay Inc is a global e-commerce company that operates an online marketplace connecting individual consumers and businesses for the sale and purchase of new, used and collectible goods. Founded in 1995 by Pierre Omidyar and headquartered in San Jose, California, eBay grew from its early auction-style site into a diversified platform offering both auction-format listings and fixed-price “Buy It Now” transactions. The company completed an initial public offering in the late 1990s and has since evolved its platform and services to support a broad range of product categories and buyer preferences.

The company’s core business centers on its marketplace platform, which provides listing, search and transaction capabilities for millions of items across consumer goods, electronics, fashion, collectibles and more.