Oppenheimer & Co. Inc. Reduces Position in eBay Inc (EBAY)

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Oppenheimer & Co. Inc. lessened its holdings in eBay Inc (NASDAQ:EBAY) by 35.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,930 shares of the e-commerce company’s stock after selling 11,165 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in eBay were worth $658,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of EBAY. Bank of New York Mellon Corp raised its holdings in 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 valued at $441,723,000 after buying an additional 4,036,288 shares during the last quarter. Unigestion Holding SA bought a new position in eBay in the 2nd quarter valued at approximately $96,013,000. Lindsell Train Ltd raised its holdings in eBay by 27.4% in the 3rd quarter. Lindsell Train Ltd now owns 7,844,900 shares of the e-commerce company’s stock valued at $259,039,000 after buying an additional 1,687,500 shares during the last quarter. First Trust Advisors LP raised its holdings in eBay by 15.1% in the 3rd quarter. First Trust Advisors LP now owns 9,476,950 shares of the e-commerce company’s stock valued at $312,929,000 after buying an additional 1,245,198 shares during the last quarter. Finally, First Manhattan Co. raised its holdings in eBay by 120.1% in the 2nd quarter. First Manhattan Co. now owns 2,258,336 shares of the e-commerce company’s stock valued at $81,887,000 after buying an additional 1,232,099 shares during the last quarter. Institutional investors and hedge funds own 85.05% of the company’s stock.

A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of eBay from a “strong sell” rating to a “sell” rating in a report on Saturday. Canaccord Genuity dropped their price objective on shares of eBay from $40.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, October 31st. They noted that the move was a valuation call. Bank of America raised their price objective on shares of eBay from $33.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, October 31st. Royal Bank of Canada dropped their price objective on shares of eBay from $34.00 to $31.00 and set a “sector perform” rating for the company in a report on Wednesday, October 31st. Finally, Benchmark dropped their price objective on shares of eBay from $50.00 to $41.00 and set a “buy” rating for the company in a report on Wednesday, October 31st. Three analysts have rated the stock with a sell rating, eighteen have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $40.97.

In other news, SVP Jae Hyun Lee sold 47,739 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $34.15, for a total transaction of $1,630,286.85. Following the completion of the sale, the senior vice president now owns 73,700 shares of the company’s stock, valued at approximately $2,516,855. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian J. Doerger sold 4,811 shares of the firm’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $34.05, for a total transaction of $163,814.55. Following the sale, the vice president now directly owns 34,644 shares of the company’s stock, valued at approximately $1,179,628.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,754 shares of company stock valued at $2,713,338. Insiders own 6.22% of the company’s stock.

NASDAQ:EBAY opened at $29.95 on Wednesday. The company has a market cap of $28.76 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.69 and a beta of 1.32. eBay Inc has a fifty-two week low of $26.36 and a fifty-two week high of $46.99. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.74 and a quick ratio of 1.74.

eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Tuesday, October 30th. The e-commerce company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.65 billion. eBay had a negative net margin of 7.93% and a positive return on equity of 23.65%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.48 EPS. On average, sell-side analysts expect that eBay Inc will post 1.84 EPS for the current year.

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eBay 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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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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