Cim Investment Management Inc. purchased a new position in shares of eBay Inc. (NASDAQ:EBAY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 16,368 shares of the e-commerce company’s stock, valued at approximately $1,149,000.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in eBay by 6.3% during the second quarter. BlackRock Inc. now owns 49,638,905 shares of the e-commerce company’s stock worth $3,485,147,000 after purchasing an additional 2,928,852 shares during the last quarter. FMR LLC boosted its holdings in eBay by 55.7% during the second quarter. FMR LLC now owns 33,779,908 shares of the e-commerce company’s stock worth $2,371,687,000 after purchasing an additional 12,078,389 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in eBay by 25.9% during the first quarter. Ameriprise Financial Inc. now owns 22,869,948 shares of the e-commerce company’s stock worth $1,400,707,000 after purchasing an additional 4,699,614 shares during the last quarter. Geode Capital Management LLC boosted its holdings in eBay by 6.0% during the first quarter. Geode Capital Management LLC now owns 10,462,209 shares of the e-commerce company’s stock worth $639,252,000 after purchasing an additional 588,725 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in eBay by 2.2% during the second quarter. LSV Asset Management now owns 9,245,888 shares of the e-commerce company’s stock worth $649,153,000 after purchasing an additional 197,845 shares during the last quarter. Institutional investors and hedge funds own 90.78% of the company’s stock.
In other news, SVP Pete Thompson sold 1,394 shares of the company’s stock in a transaction on Friday, September 17th. The shares were sold at an average price of $74.89, for a total value of $104,396.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan sold 40,000 shares of the company’s stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $73.15, for a total transaction of $2,926,000.00. The disclosure for this sale can be found here. Insiders sold a total of 79,998 shares of company stock valued at $5,892,419 in the last ninety days. 0.21% of the stock is owned by corporate insiders.
eBay (NASDAQ:EBAY) last released its quarterly earnings results on Wednesday, August 11th. The e-commerce company reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.16. eBay had a net margin of 115.40% and a return on equity of 38.34%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the company earned $1.02 EPS. On average, equities analysts predict that eBay Inc. will post 3.24 EPS for the current year.
eBay announced that its board has approved a share buyback plan on Wednesday, August 11th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the e-commerce company to repurchase up to 6.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Wednesday, September 1st were paid a $0.18 dividend. The ex-dividend date was Tuesday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.96%. eBay’s dividend payout ratio (DPR) is 24.57%.
Several research analysts recently weighed in on the stock. Robert W. Baird boosted their price target on shares of eBay from $70.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, September 27th. Credit Suisse Group lifted their price objective on shares of eBay from $80.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, August 9th. Jefferies Financial Group initiated coverage on shares of eBay in a research report on Thursday, September 9th. They issued a “hold” rating and a $83.00 price objective on the stock. Barclays lifted their price objective on shares of eBay from $78.00 to $79.00 and gave the stock an “overweight” rating in a research report on Thursday, August 12th. Finally, Mizuho lifted their price objective on shares of eBay from $63.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday, August 12th. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, eBay has a consensus rating of “Hold” and an average target price of $73.05.
eBay, Inc operates as a commerce company. The company platforms include online marketplace and its localized counterparts, including off-platform businesses in South Korea, Japan, and Turkey, as well as eBay’s suite of mobile apps. The company technologies and services are designed to give buyers choice and a breadth of relevant inventory and to enable sellers worldwide to organize and offer their inventory for sale, virtually anytime and anywhere.
See Also: What’s a Black Swan?
Want to see what other hedge funds are holding EBAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for eBay Inc. (NASDAQ:EBAY).
Receive News & Ratings for eBay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for eBay and related companies with MarketBeat.com's FREE daily email newsletter.