Envestnet Asset Management Inc. Cuts Stake in eBay Inc (NASDAQ:EBAY)

Envestnet Asset Management Inc. trimmed its position in shares of eBay Inc (NASDAQ:EBAY) by 12.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 316,769 shares of the e-commerce company’s stock after selling 43,312 shares during the quarter. Envestnet Asset Management Inc.’s holdings in eBay were worth $12,348,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in EBAY. Cacti Asset Management LLC grew its position in eBay by 11.7% during the 2nd quarter. Cacti Asset Management LLC now owns 452,335 shares of the e-commerce company’s stock valued at $17,772,000 after purchasing an additional 47,551 shares during the last quarter. Private Trust Co. NA purchased a new stake in eBay during the 2nd quarter valued at about $463,000. Pensionfund DSM Netherlands purchased a new stake in eBay during the 2nd quarter valued at about $2,805,000. Pensionfund Sabic purchased a new stake in eBay during the 2nd quarter valued at about $1,857,000. Finally, Swedbank grew its position in eBay by 45.2% during the 2nd quarter. Swedbank now owns 332,374 shares of the e-commerce company’s stock valued at $13,128,000 after purchasing an additional 103,495 shares during the last quarter. 86.31% of the stock is currently owned by institutional investors.

In other eBay news, Director Matthew J. Murphy acquired 6,000 shares of the stock in a transaction dated Monday, August 5th. The shares were purchased at an average price of $38.79 per share, for a total transaction of $232,740.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Brian J. Doerger sold 19,014 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $41.38, for a total transaction of $786,799.32. Following the completion of the transaction, the chief accounting officer now owns 24,844 shares in the company, valued at approximately $1,028,044.72. The disclosure for this sale can be found here. Insiders sold a total of 226,688 shares of company stock worth $9,407,581 in the last quarter. Company insiders own 6.22% of the company’s stock.

Shares of NASDAQ:EBAY opened at $35.62 on Friday. The firm’s 50 day moving average price is $39.21 and its 200-day moving average price is $38.80. eBay Inc has a twelve month low of $26.01 and a twelve month high of $42.00. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.89. The stock has a market capitalization of $32.88 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.38.

eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, October 23rd. The e-commerce company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.03. eBay had a net margin of 18.33% and a return on equity of 40.06%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the prior year, the business earned $0.56 EPS. The business’s quarterly revenue was up .0% on a year-over-year basis. Analysts expect that eBay Inc will post 2.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.57%. eBay’s dividend payout ratio (DPR) is presently 24.14%.

Several analysts recently commented on the stock. Citigroup increased their price objective on shares of eBay from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, September 9th. Credit Suisse Group set a $48.00 price objective on shares of eBay and gave the company a “buy” rating in a research report on Friday, October 11th. Canaccord Genuity raised their price target on shares of eBay from $38.00 to $40.00 and gave the company a “hold” rating in a report on Thursday, July 18th. Macquarie set a $44.00 price target on shares of eBay and gave the company a “hold” rating in a report on Thursday, September 26th. Finally, Bank of America dropped their price target on shares of eBay from $45.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $42.19.

eBay Company Profile

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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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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