Bank of New York Mellon Corp Reduces Holdings in eBay Inc. $EBAY

Bank of New York Mellon Corp lowered its position in eBay Inc. (NASDAQ:EBAY) by 1.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,534,420 shares of the e-commerce company’s stock after selling 49,625 shares during the period. Bank of New York Mellon Corp owned 0.77% of eBay worth $321,456,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Miracle Mile Advisors LLC boosted its position in eBay by 0.4% during the third quarter. Miracle Mile Advisors LLC now owns 29,151 shares of the e-commerce company’s stock worth $2,651,000 after acquiring an additional 118 shares during the last quarter. Garrett Wealth Advisory Group LLC lifted its stake in eBay by 3.8% in the 2nd quarter. Garrett Wealth Advisory Group LLC now owns 3,278 shares of the e-commerce company’s stock worth $244,000 after purchasing an additional 119 shares in the last quarter. Groupe la Francaise boosted its holdings in shares of eBay by 8.2% during the 2nd quarter. Groupe la Francaise now owns 1,621 shares of the e-commerce company’s stock worth $121,000 after purchasing an additional 123 shares during the last quarter. Hemington Wealth Management grew its position in shares of eBay by 7.7% in the second quarter. Hemington Wealth Management now owns 1,742 shares of the e-commerce company’s stock valued at $129,000 after purchasing an additional 124 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of eBay by 9.0% in the second quarter. Parkside Financial Bank & Trust now owns 1,666 shares of the e-commerce company’s stock valued at $124,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Insider Buying and Selling at eBay

In other eBay news, CEO Jamie Iannone sold 7,221 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $81.08, for a total transaction of $585,478.68. Following the sale, the chief executive officer owned 235,781 shares of the company’s stock, valued at approximately $19,117,123.48. This trade represents a 2.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jordan Douglas Bradle Sweetnam sold 865 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $82.67, for a total transaction of $71,509.55. Following the sale, the senior vice president owned 4,733 shares of the company’s stock, valued at $391,277.11. This represents a 15.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 53,675 shares of company stock worth $4,388,825. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

EBAY has been the subject of several analyst reports. Citigroup restated a “market outperform” rating on shares of eBay in a report on Thursday, October 30th. Stifel Nicolaus dropped their price objective on shares of eBay from $89.00 to $88.00 in a report on Thursday, October 30th. Wedbush raised their price objective on shares of eBay from $90.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Piper Sandler cut their price target on shares of eBay from $102.00 to $98.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Finally, Cantor Fitzgerald boosted their price objective on eBay from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Fourteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, eBay has an average rating of “Hold” and an average target price of $95.66.

eBay Trading Down 0.8%

NASDAQ EBAY opened at $94.41 on Friday. eBay Inc. has a 52 week low of $58.71 and a 52 week high of $101.15. The firm has a 50 day moving average of $87.33 and a two-hundred day moving average of $88.82. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $42.67 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.21 and a beta of 1.35.

eBay (NASDAQ:EBAY) last released its quarterly earnings data on Wednesday, October 29th. The e-commerce company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.03. The business had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.73 billion. eBay had a net margin of 20.37% and a return on equity of 41.94%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.19 EPS. As a group, research analysts expect that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Profile

eBay Inc is a global e-commerce company that operates an online marketplace connecting individual consumers and businesses for the sale and purchase of new, used and collectible goods. Founded in 1995 by Pierre Omidyar and headquartered in San Jose, California, eBay grew from its early auction-style site into a diversified platform offering both auction-format listings and fixed-price “Buy It Now” transactions. The company completed an initial public offering in the late 1990s and has since evolved its platform and services to support a broad range of product categories and buyer preferences.

The company’s core business centers on its marketplace platform, which provides listing, search and transaction capabilities for millions of items across consumer goods, electronics, fashion, collectibles and more.