Washington Trust Bank continued to hold its stake in shares of eBay Inc. (NASDAQ:EBAY) during the second quarter, Holdings Channel reports. The firm owned 4,074 shares of the e-commerce company’s stock at the end of the second quarter. Washington Trust Bank’s holdings in eBay were worth $142,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the company. USA Financial Portformulas Corp purchased a new stake in shares of eBay during the fourth quarter valued at $5,303,000. Kentucky Retirement Systems bought a new position in shares of eBay during the fourth quarter valued at approximately $2,240,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of eBay during the fourth quarter valued at approximately $999,000. Searle & CO. bought a new position in shares of eBay during the fourth quarter valued at approximately $354,000. Finally, Capital Investment Services of America Inc. raised its position in shares of eBay by 3.8% in the first quarter. Capital Investment Services of America Inc. now owns 278,186 shares of the e-commerce company’s stock valued at $9,339,000 after buying an additional 10,276 shares in the last quarter. 85.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of eBay Inc. (NASDAQ EBAY) traded down 0.27% during mid-day trading on Monday, hitting $36.51. The stock had a trading volume of 1,573,397 shares. The firm has a market capitalization of $39.08 billion, a price-to-earnings ratio of 5.48 and a beta of 1.36. The stock’s 50-day moving average is $35.28 and its 200 day moving average is $33.60. eBay Inc. has a 1-year low of $27.28 and a 1-year high of $37.48.
eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.31 billion. eBay had a net margin of 80.93% and a return on equity of 17.50%. The business’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 earnings per share. Equities research analysts predict that eBay Inc. will post $2.01 EPS for the current fiscal year.
eBay declared that its board has authorized a stock buyback program on Thursday, July 20th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the e-commerce company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Several brokerages have commented on EBAY. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $39.00 price target (up from $38.00) on shares of eBay in a research note on Thursday, April 20th. Canaccord Genuity reiterated a “hold” rating and issued a $32.00 price objective (up from $31.00) on shares of eBay in a research report on Thursday, April 20th. J P Morgan Chase & Co set a $38.00 price objective on shares of eBay and gave the company a “neutral” rating in a research report on Friday. BMO Capital Markets reiterated a “market perform” rating and issued a $36.00 price objective on shares of eBay in a research report on Saturday. Finally, Susquehanna Bancshares Inc reissued a “positive” rating and issued a $41.00 target price (up previously from $40.00) on shares of eBay in a report on Sunday. Two analysts have rated the stock with a sell rating, twenty have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $36.91.
In related news, VP Brian J. Doerger sold 2,903 shares of the stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $34.11, for a total transaction of $99,021.33. Following the transaction, the vice president now owns 30,701 shares in the company, valued at $1,047,211.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Brian J. Doerger sold 12,904 shares of the stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $33.57, for a total transaction of $433,187.28. Following the transaction, the vice president now owns 33,604 shares in the company, valued at approximately $1,128,086.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,704 shares of company stock worth $1,809,803. Insiders own 6.78% of the company’s stock.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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