RiverPark Advisors LLC boosted its stake in shares of eBay Inc (NASDAQ:EBAY) by 22.6% in the 4th quarter, Holdings Channel reports. The firm owned 102,318 shares of the e-commerce company’s stock after buying an additional 18,845 shares during the quarter. RiverPark Advisors LLC’s holdings in eBay were worth $3,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also made changes to their positions in EBAY. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of eBay in the 4th quarter valued at $107,000. Valeo Financial Advisors LLC acquired a new position in shares of eBay in the 3rd quarter valued at $122,000. Steward Partners Investment Advisory LLC acquired a new position in shares of eBay in the 3rd quarter valued at $139,000. Grove Bank & Trust raised its stake in shares of eBay by 455.2% in the 3rd quarter. Grove Bank & Trust now owns 3,720 shares of the e-commerce company’s stock valued at $143,000 after buying an additional 3,050 shares in the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of eBay in the 4th quarter valued at $190,000. Institutional investors own 88.92% of the company’s stock.
A number of brokerages have recently issued reports on EBAY. Bank of America increased their price objective on shares of eBay from $44.00 to $52.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Wedbush restated a “neutral” rating and issued a $46.00 price objective on shares of eBay in a research note on Thursday, February 1st. Aegis restated a “buy” rating and issued a $45.00 price objective on shares of eBay in a research note on Friday, December 22nd. UBS Group restated a “buy” rating and issued 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 restated a “hold” rating and issued a $43.00 price objective on shares of eBay in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $43.46.
eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, January 31st. The e-commerce company reported $0.59 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.59. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates 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 for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. sell-side analysts expect that eBay Inc will post 1.84 earnings per share for the current fiscal year.
eBay announced that its Board of Directors has authorized a share repurchase plan on Wednesday, January 31st that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the e-commerce company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, SVP Joo Man Park sold 4,924 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $42.67, for a total value of $210,107.08. Following the sale, the senior vice president now directly owns 55,340 shares in the company, valued at approximately $2,361,357.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Devin Wenig sold 134,207 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $42.69, for a total transaction of $5,729,296.83. Following the completion of the sale, the insider now owns 642,077 shares in the company, valued at $27,410,267.13. The disclosure for this sale can be found here. Insiders sold a total of 393,202 shares of company stock worth $16,971,727 in the last ninety days. Insiders own 6.78% of the company’s stock.
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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