Perpetual Ltd trimmed its stake in eBay Inc (NASDAQ:EBAY) by 19.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 492,550 shares of the e-commerce company’s stock after selling 118,300 shares during the quarter. eBay comprises 2.2% of Perpetual Ltd’s portfolio, making the stock its 15th largest position. Perpetual Ltd’s holdings in eBay were worth $16,264,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in eBay by 0.4% in the second quarter. BlackRock Inc. now owns 60,262,860 shares of the e-commerce company’s stock valued at $2,185,132,000 after purchasing an additional 214,189 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in eBay by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 12,411,959 shares of the e-commerce company’s stock valued at $409,843,000 after purchasing an additional 344,897 shares during the period. Bank of New York Mellon Corp grew its holdings in eBay by 49.6% in the second quarter. Bank of New York Mellon Corp now owns 12,182,128 shares of the e-commerce company’s stock valued at $441,723,000 after purchasing an additional 4,036,288 shares during the period. First Trust Advisors LP grew its holdings in eBay by 15.1% in the third quarter. First Trust Advisors LP now owns 9,476,950 shares of the e-commerce company’s stock valued at $312,929,000 after purchasing an additional 1,245,198 shares during the period. Finally, Lindsell Train Ltd grew its holdings in eBay by 27.4% in the third quarter. Lindsell Train Ltd now owns 7,844,900 shares of the e-commerce company’s stock valued at $259,039,000 after purchasing an additional 1,687,500 shares during the period. Hedge funds and other institutional investors own 84.50% of the company’s stock.
EBAY has been the subject of a number of recent analyst reports. TheStreet upgraded shares of eBay from a “c+” rating to a “b-” rating in a report on Wednesday, September 12th. BidaskClub downgraded shares of eBay from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 25th. Wedbush reiterated a “neutral” rating and set a $36.00 price objective on shares of eBay in a research note on Thursday, September 13th. Robert W. Baird reiterated a “buy” rating and set a $44.00 price objective on shares of eBay in a research note on Monday, September 3rd. Finally, Credit Suisse Group decreased their price objective on shares of eBay from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Monday, July 16th. Three analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $42.31.
eBay (NASDAQ:EBAY) last posted its earnings results on Tuesday, October 30th. The e-commerce company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.02. eBay had a negative net margin of 10.05% and a positive return on equity of 20.57%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts anticipate that eBay Inc will post 1.82 earnings per share for the current year.
In related news, SVP Jae Hyun Lee sold 26,204 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $35.08, for a total value of $919,236.32. Following the sale, the senior vice president now directly owns 128,457 shares of the company’s stock, valued at $4,506,271.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian J. Doerger sold 4,811 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $34.05, for a total transaction of $163,814.55. Following the completion of the sale, the vice president now directly owns 34,644 shares in the company, valued at $1,179,628.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,642 shares of company stock worth $4,364,399. Corporate insiders own 6.22% of the company’s stock.
eBay Inc operates commerce platforms that connect various buyers and sellers worldwide. Its platforms enable sellers to organize and offer their inventory for sale; and buyers to find and purchase it virtually. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps and online ticket platform 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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