Invenomic Capital Management LP Reduces Stock Holdings in eBay Inc. (NASDAQ:EBAY)

Invenomic Capital Management LP reduced its stake in shares of eBay Inc. (NASDAQ:EBAY) by 32.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 416,257 shares of the e-commerce company’s stock after selling 198,720 shares during the period. Invenomic Capital Management LP’s holdings in eBay were worth $21,970,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of EBAY. Vanguard Group Inc. raised its holdings in shares of eBay by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock valued at $3,321,403,000 after buying an additional 4,524,934 shares during the period. M&G Plc purchased a new stake in eBay during the 1st quarter worth approximately $97,557,000. Norges Bank purchased a new stake in eBay during the 4th quarter worth approximately $53,019,000. Dimensional Fund Advisors LP increased its holdings in eBay by 22.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,248,438 shares of the e-commerce company’s stock worth $272,551,000 after purchasing an additional 1,141,288 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in eBay by 3,346.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 1,066,551 shares of the e-commerce company’s stock worth $56,293,000 after purchasing an additional 1,035,609 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at eBay

In other eBay news, SVP Marie Oh Huber sold 49,070 shares of eBay stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $49.63, for a total transaction of $2,435,344.10. Following the sale, the senior vice president now owns 177,391 shares of the company’s stock, valued at approximately $8,803,915.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Rebecca Spencer sold 2,083 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $53.62, for a total value of $111,690.46. Following the sale, the chief accounting officer now owns 4,109 shares of the company’s stock, valued at approximately $220,324.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Marie Oh Huber sold 49,070 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $49.63, for a total value of $2,435,344.10. Following the completion of the sale, the senior vice president now directly owns 177,391 shares in the company, valued at approximately $8,803,915.33. The disclosure for this sale can be found here. Insiders have sold 59,558 shares of company stock valued at $3,001,254 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

eBay Stock Performance

NASDAQ:EBAY traded up $0.79 during midday trading on Tuesday, reaching $55.40. 4,409,752 shares of the company traded hands, compared to its average volume of 5,720,619. eBay Inc. has a twelve month low of $37.17 and a twelve month high of $55.69. The firm has a market capitalization of $27.81 billion, a price-to-earnings ratio of 10.88, a price-to-earnings-growth ratio of 2.49 and a beta of 1.31. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.99 and a quick ratio of 1.99. The company has a fifty day moving average price of $53.50 and a 200 day moving average price of $49.89.

eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.05. The firm had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.53 billion. eBay had a return on equity of 29.11% and a net margin of 25.97%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 EPS. On average, analysts expect that eBay Inc. will post 3.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EBAY has been the topic of several analyst reports. StockNews.com upgraded eBay from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Robert W. Baird lifted their price objective on eBay from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Truist Financial lifted their price objective on eBay from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, May 6th. Benchmark restated a “buy” rating and set a $58.00 price objective on shares of eBay in a report on Monday, June 17th. Finally, Wolfe Research assumed coverage on eBay in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $53.94.

eBay Company Profile

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company's marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.