Carnegie Capital Asset Management LLC reduced its holdings in shares of eBay Inc (NASDAQ:EBAY) by 89.9% during the first quarter, HoldingsChannel.com reports. The fund owned 6,970 shares of the e-commerce company’s stock after selling 61,956 shares during the quarter. Carnegie Capital Asset Management LLC’s holdings in eBay were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also modified their holdings of the stock. Alberta Investment Management Corp bought a new stake in eBay during the first quarter worth $8,213,000. Citizens Financial Group Inc RI lifted its holdings in eBay by 14.5% during the first quarter. Citizens Financial Group Inc RI now owns 9,128 shares of the e-commerce company’s stock worth $274,000 after acquiring an additional 1,154 shares during the period. Bank of The West bought a new stake in eBay during the first quarter worth $284,000. Fiera Capital Corp bought a new stake in eBay during the first quarter worth $1,295,000. Finally, Citizens & Northern Corp lifted its holdings in eBay by 6.5% during the first quarter. Citizens & Northern Corp now owns 24,304 shares of the e-commerce company’s stock worth $731,000 after acquiring an additional 1,487 shares during the period. Institutional investors and hedge funds own 91.00% of the company’s stock.
In other news, SVP Wendy Elizabeth Jones sold 62,719 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $38.48, for a total value of $2,413,427.12. Following the completion of the transaction, the senior vice president now directly owns 68,909 shares in the company, valued at approximately $2,651,618.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andrew John Cring sold 23,240 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $43.00, for a total value of $999,320.00. Following the completion of the transaction, the chief financial officer now owns 117,919 shares of the company’s stock, valued at $5,070,517. The disclosure for this sale can be found here. 6.22% of the stock is owned by insiders.
eBay (NASDAQ:EBAY) last posted its earnings results on Wednesday, April 29th. The e-commerce company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.05. eBay had a return on equity of 63.44% and a net margin of 44.44%. The business had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the previous year, the business earned $0.67 earnings per share. The firm’s revenue was down 1.6% on a year-over-year basis. On average, sell-side analysts predict that eBay Inc will post 2.59 EPS for the current year.
eBay declared that its board has initiated a share repurchase program on Tuesday, January 28th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the e-commerce company to repurchase up to 17.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 19th. Investors of record on Monday, June 1st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.47%. The ex-dividend date is Friday, May 29th. eBay’s payout ratio is 27.59%.
A number of analysts recently commented on EBAY shares. Cowen reiterated a “hold” rating and set a $37.00 price target on shares of eBay in a report on Monday, January 27th. Jefferies Financial Group reiterated a “sell” rating and set a $31.00 price target on shares of eBay in a report on Tuesday, January 28th. Canaccord Genuity restated a “hold” rating and issued a $38.00 target price (down from $40.00) on shares of eBay in a research note on Wednesday, January 29th. Stifel Nicolaus upgraded eBay from a “hold” rating to a “buy” rating and boosted their target price for the company from $40.00 to $45.00 in a research note on Friday, April 24th. Finally, TheStreet lowered eBay from a “b-” rating to a “c+” rating in a research note on Thursday, April 2nd. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $41.77.
eBay Inc operates commerce platforms connecting various buyers and sellers worldwide. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay suite of mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps 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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