BNP Paribas Arbitrage SA lessened its position in eBay Inc. (NASDAQ:EBAY) by 23.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 814,227 shares of the e-commerce company’s stock after selling 255,208 shares during the period. BNP Paribas Arbitrage SA owned 0.12% of eBay worth $57,167,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Lyrical Asset Management LP bought a new stake in shares of eBay during the 1st quarter valued at about $334,296,000. Maj Invest Holding A S purchased a new stake in shares of eBay during the second quarter valued at approximately $358,783,000. Ameriprise Financial Inc. increased its position in shares of eBay by 25.9% during the first quarter. Ameriprise Financial Inc. now owns 22,869,948 shares of the e-commerce company’s stock valued at $1,400,707,000 after acquiring an additional 4,699,614 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of eBay by 114.9% during the second quarter. Alliancebernstein L.P. now owns 4,380,934 shares of the e-commerce company’s stock valued at $307,585,000 after acquiring an additional 2,342,538 shares during the last quarter. Finally, BlackRock Inc. increased its position in eBay by 5.2% in the first quarter. BlackRock Inc. now owns 46,710,053 shares of the e-commerce company’s stock worth $2,860,524,000 after buying an additional 2,323,266 shares during the last quarter. 90.78% of the stock is owned by institutional investors and hedge funds.
Shares of EBAY stock opened at $71.39 on Wednesday. The firm has a market cap of $46.41 billion, a P/E ratio of 3.81, a price-to-earnings-growth ratio of 2.10 and a beta of 1.10. The business has a 50-day moving average price of $71.65 and a two-hundred day moving average price of $65.22. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.64. eBay Inc. has a 12-month low of $45.36 and a 12-month high of $77.83.
eBay announced that its board has authorized a stock buyback plan on Wednesday, August 11th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the e-commerce company to repurchase up to 6.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 17th. Stockholders of record on Wednesday, September 1st will be issued a $0.18 dividend. The ex-dividend date is Tuesday, August 31st. This represents a $0.72 annualized dividend and a dividend yield of 1.01%. eBay’s dividend payout ratio is currently 24.57%.
In related news, SVP Pete Thompson sold 856 shares of the business’s stock in a transaction dated Thursday, June 17th. The stock was sold at an average price of $65.67, for a total transaction of $56,213.52. Following the transaction, the senior vice president now owns 45,805 shares in the company, valued at approximately $3,008,014.35. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Brian J. Doerger sold 14,584 shares of eBay stock in a transaction that occurred on Friday, August 13th. The shares were sold at an average price of $73.49, for a total value of $1,071,778.16. Following the sale, the chief accounting officer now directly owns 21,159 shares in the company, valued at $1,554,974.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,460 shares of company stock worth $5,844,236. Company insiders own 0.21% of the company’s stock.
A number of research firms have issued reports on EBAY. Wedbush reissued a “neutral” rating and issued a $63.00 target price on shares of eBay in a research report on Thursday, August 5th. Bank of America raised their price target on eBay from $70.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, August 26th. Mizuho raised their price target on eBay from $63.00 to $65.00 and gave the stock a “neutral” rating in a report on Thursday, August 12th. Barclays raised their price target on eBay from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Thursday, August 12th. Finally, The Goldman Sachs Group reaffirmed a “positive” rating on shares of eBay in a report on Monday. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $72.59.
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.
Featured Article: How are the companies in the S&P 500 selected?
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.