Amundi Acquires 896,104 Shares of eBay Inc. $EBAY

Key Points

• Amundi increased its eBay stake by 39.3% in the first quarter, purchasing 896,104 additional shares and bringing its holdings to 3.18 million shares worth approximately $289.1 million. Institutional investors collectively own 87.48% of eBay.
• eBay’s latest quarterly results beat expectations, with adjusted earnings of $1.66 per share and revenue of $3.09 billion, up 19.5% year over year. Despite 14 Buy ratings, the analyst consensus remains Hold, with an average price target of $110.52 versus a share price of $113.52.
• The company completed its approximately $1.4 billion acquisition of Depop, expanding its reach among younger shoppers and in secondhand fashion, but sentiment faces pressure from a roughly $55.7 million harassment-case settlement involving eBay and former executives.

Amundi lifted its holdings in eBay Inc. (NASDAQ:EBAY - Free Report) by 39.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,176,266 shares of the e-commerce company's stock after purchasing an additional 896,104 shares during the quarter. Amundi owned 0.72% of eBay worth $289,104,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Guggenheim Capital LLC grew its holdings in shares of eBay by 7.4% in the 2nd quarter. Guggenheim Capital LLC now owns 14,334 shares of the e-commerce company's stock valued at $1,067,000 after acquiring an additional 988 shares in the last quarter. Jump Financial LLC bought a new stake in eBay during the second quarter worth about $275,000. NewEdge Advisors LLC raised its holdings in eBay by 70.4% during the second quarter. NewEdge Advisors LLC now owns 108,572 shares of the e-commerce company's stock worth $8,084,000 after acquiring an additional 44,851 shares in the last quarter. Sei Investments Co. boosted its position in eBay by 48.7% during the second quarter. Sei Investments Co. now owns 471,543 shares of the e-commerce company's stock valued at $35,111,000 after purchasing an additional 154,465 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its position in eBay by 26.3% during the second quarter. Treasurer of the State of North Carolina now owns 325,678 shares of the e-commerce company's stock valued at $24,250,000 after purchasing an additional 67,731 shares during the last quarter. Institutional investors and hedge funds own 87.48% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EBAY. Rothschild & Co Redburn raised their price target on eBay from $100.00 to $115.00 and gave the company a "neutral" rating in a research note on Wednesday, May 13th. Robert W. Baird increased their price objective on eBay from $117.00 to $125.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Needham & Company LLC reissued a "buy" rating and issued a $122.00 target price on shares of eBay in a research note on Thursday, April 30th. JPMorgan Chase & Co. raised their price target on eBay from $87.00 to $100.00 and gave the company a "neutral" rating in a report on Thursday, April 30th. Finally, Stifel Nicolaus set a $98.00 price objective on shares of eBay in a research report on Thursday, April 30th. Fourteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, eBay has a consensus rating of "Hold" and an average target price of $110.52.

eBay Trading Down 1.5%

Shares of eBay stock opened at $113.52 on Friday. eBay Inc. has a 52-week low of $78.03 and a 52-week high of $119.31. The stock has a market cap of $50.40 billion, a PE ratio of 25.74, a PEG ratio of 2.53 and a beta of 1.37. The firm has a 50-day moving average of $111.41 and a 200-day moving average of $100.94. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.22 and a current ratio of 1.22.

eBay (NASDAQ:EBAY - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The e-commerce company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.58 by $0.08. eBay had a net margin of 17.58% and a return on equity of 46.11%. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations of $3.04 billion. During the same quarter in the previous year, the company earned $1.38 EPS. The business's revenue was up 19.5% on a year-over-year basis. As a group, sell-side analysts forecast that eBay Inc. will post 4.89 EPS for the current year.

Insider Buying and Selling at eBay

In other news, CEO Jamie Iannone sold 11,110 shares of the company's stock in a transaction on Monday, July 6th. The stock was sold at an average price of $113.33, for a total transaction of $1,259,096.30. Following the completion of the sale, the chief executive officer directly owned 275,431 shares in the company, valued at approximately $31,214,595.23. This represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jordan Douglas Bradle Sweetnam sold 1,010 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $115.61, for a total value of $116,766.10. Following the sale, the senior vice president directly owned 32,146 shares in the company, valued at approximately $3,716,399.06. This trade represents a 3.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 76,012 shares of company stock valued at $8,747,852 in the last three months. Corporate insiders own 0.67% of the company's stock.

eBay News Summary

Here are the key news stories impacting eBay this week:

• Positive Sentiment: Depop acquisition completed: eBay finalized its purchase of the fashion-resale marketplace from Etsy for approximately $1.4 billion in cash. Depop expands eBay’s presence among younger shoppers and in secondhand fashion, potentially supporting long-term marketplace growth. Etsy Completes Sale of Depop
• Neutral Sentiment: Upcoming earnings in focus: Analysts expect eBay to report year-over-year earnings growth, following the company’s recent quarterly results that exceeded consensus expectations for both earnings and revenue. However, Zacks said eBay lacks the combination of indicators typically associated with a likely earnings beat, creating uncertainty ahead of the report. eBay Reports Next Week
• Negative Sentiment: Nearly $56 million harassment settlement: eBay and several former executives agreed to settle a cyberstalking and harassment lawsuit brought by Massachusetts journalists David and Ina Steiner. The campaign involved disturbing anonymous deliveries and threats, including live insects and a bloody pig mask. Reports cite total settlement payments of about $55.7 million, including approximately $48.7 million in direct compensation. The cash cost, reputational damage and renewed scrutiny of past management conduct are weighing on sentiment. eBay Settlement With Massachusetts Couple

About eBay

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.

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