Investec Asset Management LTD Reduces Position in eBay Inc. (NASDAQ:EBAY)

Investec Asset Management LTD reduced its position in shares of eBay Inc. (NASDAQ:EBAY) by 0.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,483,334 shares of the e-commerce company’s stock after selling 15,874 shares during the period. eBay comprises 1.1% of Investec Asset Management LTD’s investment portfolio, making the stock its 29th largest holding. Investec Asset Management LTD owned approximately 0.62% of eBay worth $249,349,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EBAY. Glenview Capital Management LLC raised its position in shares of eBay by 442.0% during the second quarter. Glenview Capital Management LLC now owns 8,905,922 shares of the e-commerce company’s stock worth $310,995,000 after purchasing an additional 7,262,862 shares during the period. Harding Loevner LP acquired a new position in shares of eBay during the second quarter worth approximately $128,878,000. Arrowstreet Capital Limited Partnership raised its position in shares of eBay by 1,077.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,779,300 shares of the e-commerce company’s stock worth $131,973,000 after purchasing an additional 3,458,300 shares during the period. Janus Henderson Group PLC raised its position in shares of eBay by 134.5% during the second quarter. Janus Henderson Group PLC now owns 5,951,860 shares of the e-commerce company’s stock worth $207,826,000 after purchasing an additional 3,414,163 shares during the period. Finally, Independent Franchise Partners LLP raised its position in shares of eBay by 17.6% during the third quarter. Independent Franchise Partners LLP now owns 22,728,844 shares of the e-commerce company’s stock worth $874,151,000 after purchasing an additional 3,406,261 shares during the period. Institutional investors and hedge funds own 86.06% of the company’s stock.

Shares of eBay Inc. (EBAY) traded up $0.02 during trading on Thursday, reaching $36.83. The company’s stock had a trading volume of 9,009,600 shares, compared to its average volume of 8,959,866. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.82. The stock has a market cap of $38,450.66, a PE ratio of 23.01, a P/E/G ratio of 2.82 and a beta of 1.33. eBay Inc. has a 1-year low of $28.14 and a 1-year high of $39.28.

eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Wednesday, October 18th. The e-commerce company reported $0.48 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.48. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.37 billion. eBay had a return on equity of 15.69% and a net margin of 80.45%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.45 EPS. sell-side analysts forecast that eBay Inc. will post 1.65 earnings per share for the current year.

In related news, SVP Marie Oh Huber sold 72,417 shares of eBay stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $37.53, for a total transaction of $2,717,810.01. Following the sale, the senior vice president now directly owns 101,589 shares in the company, valued at $3,812,635.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian J. Doerger sold 4,359 shares of eBay stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $35.75, for a total value of $155,834.25. Following the sale, the vice president now owns 23,392 shares in the company, valued at $836,264. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,242 shares of company stock worth $6,842,297. Corporate insiders own 6.78% of the company’s stock.

A number of research firms recently commented on EBAY. BidaskClub raised eBay from a “sell” rating to a “hold” rating in a research report on Wednesday. Evercore ISI began coverage on eBay in a research report on Tuesday. They issued an “in-line” rating and a $36.00 price target for the company. They noted that the move was a valuation call. BMO Capital Markets raised eBay from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Monday. SunTrust Banks reissued a “hold” rating and issued a $38.00 price target on shares of eBay in a research report on Friday, November 17th. Finally, Guggenheim started coverage on eBay in a research report on Friday, October 20th. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and eighteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $38.51.

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About eBay

eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.

Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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