Hilltop Holdings Inc. decreased its holdings in shares of eBay Inc. (NASDAQ:EBAY – Free Report) by 81.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,311 shares of the e-commerce company’s stock after selling 10,382 shares during the period. Hilltop Holdings Inc.’s holdings in eBay were worth $210,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of EBAY. Cedar Mountain Advisors LLC grew its position in eBay by 128.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 277 shares of the e-commerce company’s stock worth $25,000 after purchasing an additional 156 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of eBay in the first quarter worth $26,000. Abound Financial LLC acquired a new stake in shares of eBay during the fourth quarter worth $26,000. High Point Wealth Management LLC acquired a new stake in shares of eBay during the fourth quarter worth $26,000. Finally, Jessup Wealth Management Inc purchased a new stake in shares of eBay during the fourth quarter valued at $27,000. 87.48% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. raised their target price on eBay from $87.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Barclays boosted their price target on eBay from $104.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Daiwa Securities Group raised their price objective on eBay from $90.00 to $114.00 in a research note on Monday, May 11th. Stifel Nicolaus set a $98.00 target price on eBay in a report on Thursday, April 30th. Finally, Arete Research dropped their target price on eBay from $113.00 to $111.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. Fourteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, eBay currently has an average rating of “Hold” and an average target price of $110.52.
Insiders Place Their Bets
In related news, SVP Mazen Rawashdeh sold 50,000 shares of eBay stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $117.04, for a total value of $5,852,000.00. Following the completion of the transaction, the senior vice president owned 29,217 shares in the company, valued at $3,419,557.68. The trade was a 63.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jordan Douglas Bradle Sweetnam sold 1,010 shares of eBay stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $115.61, for a total value of $116,766.10. Following the completion of the transaction, the senior vice president owned 32,146 shares of the company’s stock, valued at approximately $3,716,399.06. This represents a 3.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 76,012 shares of company stock worth $8,747,852. Company insiders own 0.67% of the company’s stock.
Trending Headlines about eBay
Here are the key news stories impacting eBay this week:
- Positive Sentiment: Wall Street expects eBay to report year-over-year earnings growth in its upcoming results. The company’s prior quarter exceeded consensus estimates, with revenue rising 19.5% and adjusted earnings reaching $1.66 per share versus expectations of $1.58. eBay Reports Next Week: Wall Street Expects Earnings Growth
- Neutral Sentiment: eBay is projected to report quarterly results on Wednesday. However, Zacks said the company does not currently show the combination of factors that typically supports a likely earnings beat, tempering the benefit of projected earnings growth. eBay Projected to Post Quarterly Earnings
- Negative Sentiment: eBay and three former senior executives agreed to pay approximately $55.7 million, or nearly $56 million, to settle a lawsuit involving a 2019 stalking and harassment campaign against a Massachusetts couple who published an e-commerce newsletter. The settlement creates a meaningful legal expense and renews reputational concerns related to former management, although the payment is tied to conduct from several years ago. eBay and Former Executives Agree to $56 Million Settlement
eBay Stock Performance
EBAY opened at $115.30 on Thursday. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a fifty day moving average price of $111.48 and a 200 day moving average price of $100.78. eBay Inc. has a 1 year low of $77.12 and a 1 year high of $119.31. The stock has a market cap of $51.19 billion, a P/E ratio of 26.15, a P/E/G ratio of 2.58 and a beta of 1.37.
eBay (NASDAQ:EBAY – Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The e-commerce company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.58 by $0.08. eBay had a net margin of 17.58% and a return on equity of 46.11%. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter last year, the business earned $1.38 earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis. Equities research analysts anticipate that eBay Inc. will post 4.89 earnings per share for the current year.
About eBay
eBay Inc is a global e-commerce company that operates an online marketplace connecting individual consumers and businesses for the sale and purchase of new, used and collectible goods. Founded in 1995 by Pierre Omidyar and headquartered in San Jose, California, eBay grew from its early auction-style site into a diversified platform offering both auction-format listings and fixed-price “Buy It Now” transactions. The company completed an initial public offering in the late 1990s and has since evolved its platform and services to support a broad range of product categories and buyer preferences.
The company’s core business centers on its marketplace platform, which provides listing, search and transaction capabilities for millions of items across consumer goods, electronics, fashion, collectibles and more.
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