Cullinan Associates Inc. decreased its position in eBay Inc (NASDAQ:EBAY) by 75.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,100 shares of the e-commerce company’s stock after selling 115,170 shares during the quarter. Cullinan Associates Inc.’s holdings in eBay were worth $1,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in EBAY. Penserra Capital Management LLC lifted its position in eBay by 20.1% in the third quarter. Penserra Capital Management LLC now owns 444,912 shares of the e-commerce company’s stock valued at $14,689,000 after purchasing an additional 74,606 shares during the last quarter. Royal London Asset Management Ltd. purchased a new stake in eBay in the second quarter worth $25,359,000. Nordea Investment Management AB grew its stake in eBay by 74.8% in the third quarter. Nordea Investment Management AB now owns 17,883,506 shares of the e-commerce company’s stock worth $590,516,000 after purchasing an additional 7,651,060 shares during the period. Kentucky Retirement Systems purchased a new stake in eBay in the third quarter worth $5,280,000. Finally, Todd Asset Management LLC purchased a new stake in eBay in the third quarter worth $13,938,000. Institutional investors own 83.48% of the company’s stock.
Several equities research analysts recently weighed in on the company. Goldman Sachs Group cut eBay from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $34.00 to $32.00 in a research note on Friday, January 4th. ValuEngine cut eBay from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Aegis reaffirmed a “buy” rating and issued a $40.00 price target (down from $44.00) on shares of eBay in a research note on Wednesday, January 2nd. Wells Fargo & Co reduced their price target on eBay from $36.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, December 21st. Finally, BidaskClub raised eBay from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and fourteen have issued a buy rating to the company’s stock. eBay has a consensus rating of “Hold” and an average price target of $39.47.
eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Tuesday, October 30th. The e-commerce company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.65 billion. eBay had a positive return on equity of 23.65% and a negative net margin of 7.93%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, equities analysts anticipate that eBay Inc will post 1.84 earnings per share for the current year.
In other eBay news, Director Robert Holmes Swan purchased 17,787 shares of the stock in a transaction dated Wednesday, January 2nd. The shares were purchased at an average cost of $28.21 per share, with a total value of $501,771.27. Following the completion of the acquisition, the director now directly owns 289,207 shares in the company, valued at approximately $8,158,529.47. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian J. Doerger sold 3,526 shares of the company’s stock in a transaction on Tuesday, November 20th. The shares were sold at an average price of $28.21, for a total value of $99,468.46. Following the transaction, the vice president now directly owns 37,664 shares in the company, valued at $1,062,501.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,461 shares of company stock worth $2,643,165. Corporate insiders own 6.22% of the company’s stock.
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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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