Bank of Nova Scotia Decreases Position in eBay Inc (EBAY)

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Bank of Nova Scotia lowered its position in eBay Inc (NASDAQ:EBAY) by 49.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 274,414 shares of the e-commerce company’s stock after selling 269,006 shares during the period. Bank of Nova Scotia’s holdings in eBay were worth $9,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CSat Investment Advisory L.P. bought a new stake in eBay in the second quarter worth about $106,000. Valeo Financial Advisors LLC bought a new stake in eBay in the second quarter worth about $107,000. Archford Capital Strategies LLC bought a new stake in eBay in the first quarter worth about $116,000. Mitsubishi UFJ Securities Holdings Co. Ltd. lifted its stake in eBay by 506.3% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 2,910 shares of the e-commerce company’s stock worth $117,000 after purchasing an additional 2,430 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its stake in eBay by 223.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,128 shares of the e-commerce company’s stock worth $150,000 after purchasing an additional 2,850 shares during the last quarter. 84.84% of the stock is owned by institutional investors and hedge funds.

EBAY stock traded up $0.32 during trading on Friday, hitting $31.72. 7,798,586 shares of the company’s stock traded hands, compared to its average volume of 10,178,743. The firm has a market cap of $32.67 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 1.89 and a beta of 1.20. The company has a quick ratio of 2.37, a current ratio of 2.37 and a debt-to-equity ratio of 1.29. eBay Inc has a 1 year low of $30.75 and a 1 year high of $46.99.

eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, July 18th. The e-commerce company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.02. The company had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.66 billion. eBay had a negative net margin of 10.05% and a positive return on equity of 20.57%. eBay’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company posted $0.45 earnings per share. Analysts anticipate that eBay Inc will post 1.84 EPS for the current fiscal year.

In other eBay news, SVP Kristin A. Yetto sold 23,648 shares of eBay stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $33.54, for a total value of $793,153.92. Following the transaction, the senior vice president now directly owns 109,116 shares of the company’s stock, valued at $3,659,750.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Wendy Elizabeth Jones sold 10,516 shares of eBay stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $33.68, for a total transaction of $354,178.88. Following the completion of the transaction, the senior vice president now directly owns 21,620 shares in the company, valued at $728,161.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,158 shares of company stock worth $4,718,578. 6.22% of the stock is currently owned by corporate insiders.

Several analysts have issued reports on the stock. Robert W. Baird decreased their price objective on shares of eBay from $44.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday. Monness Crespi & Hardt decreased their price objective on shares of eBay from $48.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, July 19th. Benchmark decreased their price target on shares of eBay from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, July 19th. Morgan Stanley decreased their price target on shares of eBay from $58.00 to $55.00 and set a “$34.11” rating for the company in a research note on Thursday, July 19th. Finally, Citigroup reaffirmed a “buy” rating and set a $50.00 price target on shares of eBay in a research note on Thursday, July 19th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seventeen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $46.25.

About eBay

eBay Inc operates commerce platforms that connect various buyers and sellers worldwide. Its platforms enable sellers to organize and offer their inventory for sale; and buyers to find and purchase it virtually. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps and online ticket platform 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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