Carnegie Capital Asset Management LLC decreased its position in eBay Inc (NASDAQ:EBAY) by 89.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 6,970 shares of the e-commerce company’s stock after selling 61,956 shares during the period. Carnegie Capital Asset Management LLC’s holdings in eBay were worth $210,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Baupost Group LLC MA lifted its stake in eBay by 20.1% in the 4th quarter. Baupost Group LLC MA now owns 19,994,970 shares of the e-commerce company’s stock valued at $722,018,000 after acquiring an additional 3,348,970 shares in the last quarter. Renaissance Technologies LLC lifted its stake in eBay by 32.5% in the 4th quarter. Renaissance Technologies LLC now owns 15,120,028 shares of the e-commerce company’s stock valued at $545,984,000 after acquiring an additional 3,707,700 shares in the last quarter. Lindsell Train Ltd lifted its stake in eBay by 10.7% in the 4th quarter. Lindsell Train Ltd now owns 11,316,771 shares of the e-commerce company’s stock valued at $408,649,000 after acquiring an additional 1,098,171 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of eBay by 19.4% during the 4th quarter. Bank of New York Mellon Corp now owns 9,453,275 shares of the e-commerce company’s stock worth $341,357,000 after purchasing an additional 1,535,987 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of eBay by 1.4% during the 4th quarter. AQR Capital Management LLC now owns 9,407,143 shares of the e-commerce company’s stock worth $336,117,000 after purchasing an additional 131,113 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.
Shares of NASDAQ EBAY opened at $43.45 on Friday. The company has a debt-to-equity ratio of 3.87, a current ratio of 1.34 and a quick ratio of 1.34. The stock’s fifty day moving average price is $37.82 and its two-hundred day moving average price is $35.79. eBay Inc has a one year low of $26.02 and a one year high of $43.49. The firm has a market cap of $29.84 billion, a price-to-earnings ratio of 7.21, a P/E/G ratio of 1.32 and a beta of 1.36.
eBay (NASDAQ:EBAY) last released its earnings results on Wednesday, April 29th. The e-commerce company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.05. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.32 billion. eBay had a return on equity of 63.44% and a net margin of 44.44%. eBay’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.67 EPS. On average, equities analysts anticipate that eBay Inc will post 2.59 earnings per share for the current fiscal year.
eBay announced that its Board of Directors has authorized a stock repurchase program on Tuesday, January 28th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the e-commerce company to purchase up to 17.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.47%. The ex-dividend date is Friday, May 29th. eBay’s dividend payout ratio (DPR) is currently 27.59%.
In other news, CFO Andrew John Cring sold 23,240 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $43.00, for a total transaction of $999,320.00. Following the sale, the chief financial officer now directly owns 117,919 shares of the company’s stock, valued at approximately $5,070,517. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Wendy Elizabeth Jones sold 62,719 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $38.48, for a total value of $2,413,427.12. Following the sale, the senior vice president now directly owns 68,909 shares in the company, valued at $2,651,618.32. The disclosure for this sale can be found here. Corporate insiders own 6.22% of the company’s stock.
EBAY has been the topic of a number of analyst reports. Susquehanna Bancshares upped their price objective on eBay from $43.00 to $44.00 and gave the stock a “positive” rating in a research note on Thursday, April 30th. Deutsche Bank upped their price objective on eBay from $37.00 to $42.00 and gave the stock a “hold” rating in a research note on Monday, April 27th. Canaccord Genuity reiterated a “hold” rating and set a $38.00 price objective (down previously from $40.00) on shares of eBay in a research note on Wednesday, January 29th. Credit Suisse Group upped their price objective on eBay from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley upped their price objective on eBay from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $41.77.
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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