US Bancorp DE trimmed its holdings in shares of eBay Inc (NASDAQ:EBAY) by 16.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,326 shares of the e-commerce company’s stock after selling 22,088 shares during the quarter. US Bancorp DE’s holdings in eBay were worth $4,516,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Virtus ETF Advisers LLC acquired a new position in eBay during the second quarter worth $25,000. Redhawk Wealth Advisors Inc. acquired a new position in eBay during the second quarter worth $30,000. Cable Hill Partners LLC increased its position in eBay by 64.6% during the first quarter. Cable Hill Partners LLC now owns 752 shares of the e-commerce company’s stock worth $28,000 after buying an additional 295 shares during the last quarter. Icon Wealth Partners LLC acquired a new position in eBay during the first quarter worth $32,000. Finally, Wealthcare Advisory Partners LLC increased its position in eBay by 71.6% during the first quarter. Wealthcare Advisory Partners LLC now owns 961 shares of the e-commerce company’s stock worth $36,000 after buying an additional 401 shares during the last quarter. 86.17% of the stock is currently owned by hedge funds and other institutional investors.
EBAY has been the topic of several research analyst reports. SunTrust Banks reaffirmed a “hold” rating and issued a $36.00 price target on shares of eBay in a research report on Tuesday, July 16th. KeyCorp raised their price target on eBay from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. BidaskClub downgraded eBay from a “buy” rating to a “hold” rating in a research report on Friday, September 6th. Piper Jaffray Companies raised their price target on eBay from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, UBS Group downgraded eBay from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.73.
eBay (NASDAQ:EBAY) last released its earnings results on Wednesday, July 17th. The e-commerce company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.19. eBay had a net margin of 22.12% and a return on equity of 36.67%. The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that eBay Inc will post 2.23 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Tuesday, September 3rd will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, August 30th. eBay’s payout ratio is presently 24.14%.
In related news, Director Matthew J. Murphy bought 6,000 shares of eBay stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average price of $38.79 per share, for a total transaction of $232,740.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Devin Wenig sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $39.86, for a total transaction of $398,600.00. Following the completion of the sale, the chief executive officer now owns 1,022,419 shares of the company’s stock, valued at approximately $40,753,621.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 242,942 shares of company stock valued at $10,060,557. 6.22% of the stock is owned by corporate insiders.
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.
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