TIAA CREF Investment Management LLC grew its position in eBay Inc (NASDAQ:EBAY) by 10.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,075,562 shares of the e-commerce company’s stock after acquiring an additional 918,256 shares during the period. TIAA CREF Investment Management LLC’s holdings in eBay were worth $380,252,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of EBAY. OppenheimerFunds Inc. raised its position in shares of eBay by 29,058.6% in the fourth quarter. OppenheimerFunds Inc. now owns 9,881,553 shares of the e-commerce company’s stock worth $372,929,000 after acquiring an additional 9,847,664 shares during the period. Swedbank acquired a new position in shares of eBay in the fourth quarter worth about $123,834,000. Nordea Investment Management AB increased its stake in shares of eBay by 20.4% during the third quarter. Nordea Investment Management AB now owns 18,407,787 shares of the e-commerce company’s stock worth $707,963,000 after purchasing an additional 3,118,453 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of eBay during the third quarter worth about $117,303,000. Finally, Alkeon Capital Management LLC increased its stake in shares of eBay by 14,918.9% during the third quarter. Alkeon Capital Management LLC now owns 2,063,741 shares of the e-commerce company’s stock worth $79,372,000 after purchasing an additional 2,050,000 shares in the last quarter. Institutional investors and hedge funds own 88.92% of the company’s stock.
In related news, CFO Scott F. Schenkel sold 131,332 shares of the stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $43.25, for a total value of $5,680,109.00. Following the transaction, the chief financial officer now directly owns 91,757 shares of the company’s stock, valued at approximately $3,968,490.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Stephen Fisher sold 22,561 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $43.97, for a total transaction of $992,007.17. Following the transaction, the senior vice president now directly owns 95,383 shares in the company, valued at $4,193,990.51. The disclosure for this sale can be found here. Insiders sold a total of 393,202 shares of company stock worth $16,971,727 over the last ninety days. Insiders own 6.78% of the company’s stock.
eBay (NASDAQ:EBAY) last posted its earnings results on Wednesday, January 31st. The e-commerce company reported $0.59 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.59. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.61 billion. eBay had a negative net margin of 10.62% and a positive return on equity of 16.82%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. research analysts predict that eBay Inc will post 1.84 earnings per share for the current fiscal year.
eBay declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 31st that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the e-commerce company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
A number of analysts have recently commented on the stock. Bank of America boosted their target price on shares of eBay from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Wedbush reaffirmed a “neutral” rating and set a $46.00 price objective on shares of eBay in a research note on Thursday, February 1st. Aegis reaffirmed a “buy” rating and set a $45.00 price objective on shares of eBay in a research note on Friday, December 22nd. UBS Group reaffirmed a “buy” rating and set a $48.00 price objective (up previously from $44.00) on shares of eBay in a research note on Thursday, February 1st. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $43.00 price objective on shares of eBay in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $43.46.
eBay Company Profile
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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