eBay Inc. (NASDAQ:EBAY) Stock Holdings Lessened by M&T Bank Corp

M&T Bank Corp trimmed its stake in eBay Inc. (NASDAQ:EBAY - Free Report) by 8.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,467 shares of the e-commerce company's stock after selling 3,661 shares during the quarter. M&T Bank Corp's holdings in eBay were worth $2,740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Orion Capital Management LLC acquired a new position in eBay in the fourth quarter worth approximately $27,000. Abound Financial LLC acquired a new position in eBay in the first quarter worth approximately $29,000. Pinney & Scofield Inc. acquired a new position in eBay in the fourth quarter worth approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in eBay in the fourth quarter worth approximately $33,000. Finally, Transce3nd LLC acquired a new position in eBay in the fourth quarter worth approximately $36,000. 87.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Stifel Nicolaus increased their price objective on eBay from $61.00 to $62.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Cantor Fitzgerald increased their price objective on eBay from $65.00 to $69.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Wall Street Zen upgraded eBay from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. TD Securities increased their price target on eBay from $62.00 to $64.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Finally, Daiwa America upgraded eBay from a "hold" rating to a "strong-buy" rating in a report on Monday, May 12th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $68.12.

Insider Buying and Selling

In other eBay news, SVP Julie A. Loeger sold 127,070 shares of eBay stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.43, for a total transaction of $8,822,470.10. Following the completion of the transaction, the senior vice president directly owned 123,282 shares of the company's stock, valued at approximately $8,559,469.26. This trade represents a 50.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jamie Iannone sold 12,644 shares of eBay stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $76.02, for a total value of $961,196.88. Following the transaction, the chief executive officer directly owned 317,625 shares of the company's stock, valued at approximately $24,145,852.50. The trade was a 3.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 326,183 shares of company stock valued at $23,490,942 in the last ninety days. Insiders own 0.64% of the company's stock.

eBay Stock Down 0.1%

Shares of EBAY stock opened at $77.11 on Friday. The stock has a market cap of $35.55 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 2.16 and a beta of 1.26. eBay Inc. has a one year low of $53.10 and a one year high of $79.84. The stock has a fifty day moving average price of $74.41 and a 200 day moving average price of $68.95. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.17.

eBay (NASDAQ:EBAY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.34 by $0.04. The firm had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.55 billion. eBay had a return on equity of 36.60% and a net margin of 19.78%. eBay's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period last year, the business earned $1.25 earnings per share. Analysts predict that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.50%. eBay's payout ratio is presently 27.62%.

About eBay

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company's marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.