Westpac Banking Corp trimmed its holdings in shares of eBay Inc (NASDAQ:EBAY) by 69.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 265,211 shares of the e-commerce company’s stock after selling 592,229 shares during the period. Westpac Banking Corp’s holdings in eBay were worth $9,850,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co bought a new stake in eBay in the first quarter valued at approximately $25,000. Paragon Capital Management LLC bought a new stake in eBay in the first quarter valued at approximately $28,000. Cable Hill Partners LLC increased its stake in eBay by 64.6% in the first quarter. Cable Hill Partners LLC now owns 752 shares of the e-commerce company’s stock valued at $28,000 after purchasing an additional 295 shares in the last quarter. Brand Asset Management Group Inc. increased its stake in eBay by 69.6% in the first quarter. Brand Asset Management Group Inc. now owns 865 shares of the e-commerce company’s stock valued at $32,000 after purchasing an additional 355 shares in the last quarter. Finally, Icon Wealth Partners LLC bought a new stake in eBay in the first quarter valued at approximately $32,000. 86.35% of the stock is owned by institutional investors and hedge funds.
In related news, VP Brian J. Doerger sold 14,237 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $38.06, for a total transaction of $541,860.22. Following the completion of the transaction, the vice president now owns 37,340 shares in the company, valued at $1,421,160.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kristin A. Yetto sold 25,156 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $37.41, for a total transaction of $941,085.96. Following the transaction, the senior vice president now owns 74,547 shares of the company’s stock, valued at approximately $2,788,803.27. The disclosure for this sale can be found here. Insiders have sold 177,199 shares of company stock valued at $6,778,517 in the last 90 days. 6.22% of the stock is currently owned by corporate insiders.
Several equities research analysts have commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $42.00 target price on shares of eBay in a research note on Tuesday, April 16th. BidaskClub downgraded shares of eBay from a “buy” rating to a “hold” rating in a research note on Saturday, April 13th. Robert W. Baird upped their target price on shares of eBay from $40.00 to $44.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. ValuEngine downgraded shares of eBay from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley upped their target price on shares of eBay from $33.00 to $34.50 and gave the company an “equal weight” rating in a research note on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $39.98.
EBAY traded down $0.05 during trading hours on Friday, hitting $38.96. 2,292,991 shares of the company’s stock were exchanged, compared to its average volume of 7,811,517. eBay Inc has a 1-year low of $26.01 and a 1-year high of $39.67. The stock has a market capitalization of $34.01 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.92 and a beta of 1.34. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.48.
eBay (NASDAQ:EBAY) last announced its earnings results on Tuesday, April 23rd. The e-commerce company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. eBay had a net margin of 24.43% and a return on equity of 31.26%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts predict that eBay Inc will post 2.15 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Saturday, June 1st will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, May 30th. eBay’s payout ratio is 24.14%.
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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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