Concert Wealth Management Inc. raised its position in eBay Inc. (NASDAQ:EBAY) by 1.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 25,412 shares of the e-commerce company’s stock after buying an additional 375 shares during the period. Concert Wealth Management Inc.’s holdings in eBay were worth $596,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Virginia Retirement System acquired a new stake in eBay during the first quarter worth $418,000. Acrospire Investment Management LLC purchased a new position in shares of eBay during the first quarter worth about $224,000. Investec Asset Management LTD raised its position in shares of eBay by 5.1% in the first quarter. Investec Asset Management LTD now owns 8,316,723 shares of the e-commerce company’s stock worth $198,437,000 after buying an additional 404,945 shares during the period. Investec Asset Management North America Inc. raised its position in shares of eBay by 6.6% in the first quarter. Investec Asset Management North America Inc. now owns 352,847 shares of the e-commerce company’s stock worth $8,419,000 after buying an additional 21,742 shares during the period. Finally, Fiduciary Management Inc. WI raised its position in shares of eBay by 7.7% in the first quarter. Fiduciary Management Inc. WI now owns 19,016,842 shares of the e-commerce company’s stock worth $453,742,000 after buying an additional 1,367,451 shares during the period. 82.00% of the stock is owned by hedge funds and other institutional investors.
eBay Inc. (NASDAQ:EBAY) traded up 0.111% on Wednesday, reaching $31.495. 2,781,328 shares of the company traded hands. The company has a 50-day moving average price of $31.95 and a 200-day moving average price of $27.32. eBay Inc. has a 12 month low of $21.52 and a 12 month high of $33.19. The company has a market capitalization of $35.56 billion, a P/E ratio of 19.358 and a beta of 1.17.
eBay (NASDAQ:EBAY) last released its quarterly earnings results on Wednesday, July 20th. The e-commerce company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.01. eBay had a net margin of 22.00% and a return on equity of 29.12%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts expect that eBay Inc. will post $1.89 EPS for the current year.
EBAY has been the subject of a number of research analyst reports. Axiom Securities restated a “buy” rating and issued a $34.00 target price (up previously from $30.00) on shares of eBay in a research note on Friday, July 15th. Zacks Investment Research upgraded eBay from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Wednesday, July 13th. Robert W. Baird restated a “buy” rating and issued a $30.00 target price on shares of eBay in a research note on Tuesday, July 12th. Goldman Sachs Group Inc. set a $30.00 target price on eBay and gave the stock a “buy” rating in a research note on Monday, July 11th. Finally, Brean Capital initiated coverage on eBay in a research note on Wednesday, June 22nd. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $33.45.
In other eBay news, Director Robert Holmes Swan sold 50,000 shares of the firm’s stock in a transaction on Monday, July 25th. The shares were sold at an average price of $30.65, for a total transaction of $1,532,500.00. Following the completion of the transaction, the director now directly owns 425,288 shares of the company’s stock, valued at approximately $13,035,077.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brian J. Doerger sold 23,958 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $30.56, for a total transaction of $732,156.48. Following the transaction, the vice president now directly owns 48,605 shares of the company’s stock, valued at $1,485,368.80. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company helps in enabling commerce on its platforms for buyers and sellers online. The Company has an open source platform that provides software developers and merchants an access to its application programming interfaces for developing software and solutions for commerce.
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