Twin Capital Management Inc. Trims Stake in eBay Inc (NASDAQ:EBAY)

Twin Capital Management Inc. reduced its holdings in shares of eBay Inc (NASDAQ:EBAY) by 8.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,800 shares of the e-commerce company’s stock after selling 12,320 shares during the period. Twin Capital Management Inc.’s holdings in eBay were worth $5,404,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in eBay by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,415,911 shares of the e-commerce company’s stock valued at $95,893,000 after purchasing an additional 61,280 shares during the last quarter. Geode Capital Management LLC lifted its position in eBay by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 12,491,124 shares of the e-commerce company’s stock valued at $350,041,000 after purchasing an additional 801,529 shares during the last quarter. Raymond James Trust N.A. lifted its position in eBay by 27.2% during the first quarter. Raymond James Trust N.A. now owns 17,794 shares of the e-commerce company’s stock valued at $661,000 after purchasing an additional 3,806 shares during the last quarter. TIAA FSB bought a new position in eBay during the first quarter valued at $377,000. Finally, Pennsylvania Trust Co bought a new position in eBay during the first quarter valued at $1,217,000. 89.00% of the stock is owned by institutional investors and hedge funds.

Several research firms have commented on EBAY. Morgan Stanley increased their price objective on shares of eBay from $34.50 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Robert W. Baird increased their price objective on shares of eBay from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, April 24th. Canaccord Genuity increased their price objective on shares of eBay from $38.00 to $40.00 and gave the company a “hold” rating in a research report on Thursday, July 18th. DA Davidson increased their price objective on shares of eBay to $47.00 and gave the company a “reduce” rating in a research report on Thursday, July 18th. Finally, Credit Suisse Group increased their price objective on shares of eBay from $43.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have assigned a buy rating to the company. eBay presently has an average rating of “Hold” and an average target price of $41.52.

Shares of eBay stock traded down $0.14 on Thursday, reaching $39.50. The stock had a trading volume of 3,171,156 shares, compared to its average volume of 9,023,986. The firm’s 50 day moving average price is $40.18. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 1.89. eBay Inc has a 1 year low of $26.01 and a 1 year high of $42.00. The stock has a market cap of $33.27 billion, a PE ratio of 17.03, a P/E/G ratio of 1.89 and a beta of 1.37.

eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, July 17th. The e-commerce company reported $0.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.19. eBay had a net margin of 22.12% and a return on equity of 36.67%. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the previous year, the firm earned $0.53 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities research analysts anticipate that eBay Inc will post 2.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 3rd will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Friday, August 30th. eBay’s payout ratio is currently 24.14%.

In related news, CAO Brian J. Doerger sold 19,014 shares of eBay stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $41.38, for a total value of $786,799.32. Following the completion of the sale, the chief accounting officer now directly owns 24,844 shares in the company, valued at approximately $1,028,044.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew J. Murphy bought 6,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was bought at an average price of $38.79 per share, with a total value of $232,740.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 232,942 shares of company stock worth $9,661,957. Insiders own 6.22% of the company’s stock.

About eBay

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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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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