First Manhattan Co. Raises Stake in eBay Inc (EBAY)

First Manhattan Co. lifted its position in shares of eBay Inc (NASDAQ:EBAY) by 120.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,258,336 shares of the e-commerce company’s stock after purchasing an additional 1,232,099 shares during the quarter. First Manhattan Co.’s holdings in eBay were worth $81,887,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of EBAY. Millennium Management LLC raised its position in shares of eBay by 676.0% during the first quarter. Millennium Management LLC now owns 6,411,341 shares of the e-commerce company’s stock worth $257,992,000 after purchasing an additional 5,585,174 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new position in shares of eBay during the first quarter worth approximately $158,761,000. Summit Trail Advisors LLC raised its position in shares of eBay by 3,693.0% during the first quarter. Summit Trail Advisors LLC now owns 2,815,531 shares of the e-commerce company’s stock worth $2,816,000 after purchasing an additional 2,741,301 shares during the period. Unigestion Holding SA acquired a new position in shares of eBay during the second quarter worth approximately $96,013,000. Finally, Natixis raised its position in shares of eBay by 369.2% during the first quarter. Natixis now owns 1,219,891 shares of the e-commerce company’s stock worth $49,088,000 after purchasing an additional 959,910 shares during the period. 86.95% of the stock is currently owned by institutional investors.

Shares of eBay opened at $33.09 on Thursday, Marketbeat reports. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 1.29. The firm has a market cap of $33.10 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22. eBay Inc has a 1 year low of $32.85 and a 1 year high of $46.99.

eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Wednesday, July 18th. The e-commerce company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.02. The business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.66 billion. eBay had a positive return on equity of 20.57% and a negative net margin of 10.05%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. equities analysts expect that eBay Inc will post 1.83 earnings per share for the current fiscal year.

A number of equities analysts have recently weighed in on the company. BidaskClub raised eBay from a “sell” rating to a “hold” rating in a research report on Saturday, April 21st. Monness Crespi & Hardt lowered their price target on eBay from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, July 19th. BMO Capital Markets lowered their price target on eBay from $55.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, July 20th. Morgan Stanley set a $58.00 price target on eBay and gave the company a “buy” rating in a research report on Thursday, April 19th. Finally, DA Davidson lowered their price target on eBay to $50.00 and set a “buy” rating for the company in a research report on Thursday, July 19th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $46.33.

In related news, SVP Wendy Elizabeth Jones sold 10,516 shares of the stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $33.68, for a total transaction of $354,178.88. Following the sale, the senior vice president now owns 21,620 shares of the company’s stock, valued at $728,161.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Marie Oh Huber sold 35,631 shares of the stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $38.00, for a total value of $1,353,978.00. Following the sale, the senior vice president now directly owns 36,070 shares in the company, valued at approximately $1,370,660. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,379 shares of company stock worth $2,060,358. Corporate insiders own 6.78% of the company’s stock.

About eBay

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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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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