Millennium Management LLC Cuts Stake in eBay (EBAY)

Millennium Management LLC lessened its position in shares of eBay (NASDAQ:EBAY) by 50.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 826,167 shares of the e-commerce company’s stock after selling 835,130 shares during the quarter. Millennium Management LLC owned approximately 0.08% of eBay worth $31,180,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Cabot Wealth Management Inc. raised its stake in shares of eBay by 0.7% during the 4th quarter. Cabot Wealth Management Inc. now owns 172,705 shares of the e-commerce company’s stock worth $6,518,000 after buying an additional 1,219 shares during the last quarter. Northwest Investment Counselors LLC raised its stake in shares of eBay by 3.0% during the 4th quarter. Northwest Investment Counselors LLC now owns 42,468 shares of the e-commerce company’s stock worth $1,603,000 after buying an additional 1,221 shares during the last quarter. Amalgamated Bank raised its stake in eBay by 1.3% in the 3rd quarter. Amalgamated Bank now owns 114,862 shares of the e-commerce company’s stock valued at $4,418,000 after purchasing an additional 1,455 shares during the last quarter. Hermes Investment Management Ltd. raised its stake in eBay by 17.9% in the 4th quarter. Hermes Investment Management Ltd. now owns 9,900 shares of the e-commerce company’s stock valued at $374,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in eBay by 13.9% in the 4th quarter. Checchi Capital Advisers LLC now owns 12,322 shares of the e-commerce company’s stock valued at $465,000 after purchasing an additional 1,504 shares during the last quarter. 88.86% of the stock is owned by institutional investors and hedge funds.

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Several brokerages recently weighed in on EBAY. Robert W. Baird reissued a “buy” rating and issued a $44.00 target price on shares of eBay in a research note on Tuesday, March 20th. Credit Suisse Group set a $51.00 target price on shares of eBay and gave the company a “buy” rating in a research note on Friday, March 9th. ValuEngine raised shares of eBay from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Raymond James Financial raised shares of eBay from a “market perform” rating to a “strong-buy” rating and set a $52.00 target price for the company in a research note on Friday, March 2nd. Finally, UBS raised shares of eBay from a “market perform” rating to a “strong-buy” rating in a research note on Friday, March 2nd. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $43.23.

In other news, CFO Scott F. Schenkel sold 131,332 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $43.25, for a total transaction of $5,680,109.00. Following the completion of the sale, the chief financial officer now owns 91,757 shares in the company, valued at approximately $3,968,490.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stephen Fisher sold 22,561 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $43.97, for a total value of $992,007.17. Following the sale, the senior vice president now owns 95,383 shares of the company’s stock, valued at approximately $4,193,990.51. The disclosure for this sale can be found here. Insiders have sold a total of 393,202 shares of company stock valued at $16,971,727 in the last quarter. Company insiders own 6.78% of the company’s stock.

Shares of eBay (NASDAQ:EBAY) opened at $39.71 on Monday. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 1.15. eBay has a fifty-two week low of $31.89 and a fifty-two week high of $46.99. The stock has a market capitalization of $40,189.70, a PE ratio of 24.07, a PEG ratio of 2.26 and a beta of 1.18.

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, hitting the Zacks’ consensus estimate of $0.59. eBay had a positive return on equity of 16.82% and a negative net margin of 10.62%. The business had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. research analysts expect that eBay will post 1.84 earnings per share for the current fiscal year.

eBay declared that its board has authorized a share buyback program on Wednesday, January 31st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the e-commerce company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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About eBay

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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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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