Marvin & Palmer Associates Inc. Takes $2.96 Million Position in eBay Inc. (NASDAQ:EBAY)

Key Points

• Marvin & Palmer Associates Inc. has acquired a new stake in eBay Inc. valued at approximately $2.96 million, making it the firm's 14th largest position.
• In recent transactions, several institutional investors increased their stakes in eBay, including Ameriprise Financial, which boosted its position by 12.4% and now owns shares valued at $1.77 billion.
• eBay reported earnings of $1.38 per share, beating expectations, and had a quarterly revenue of $2.59 billion, indicating a modest growth of 1.1% compared to the previous year.

Marvin & Palmer Associates Inc. acquired a new stake in eBay Inc. (NASDAQ:EBAY - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 43,675 shares of the e-commerce company's stock, valued at approximately $2,958,000. eBay makes up approximately 4.4% of Marvin & Palmer Associates Inc.'s investment portfolio, making the stock its 14th largest position.

Other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in eBay by 12.4% during the 4th quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company's stock valued at $1,765,148,000 after buying an additional 3,149,934 shares during the period. Independent Franchise Partners LLP lifted its position in shares of eBay by 25.6% in the 4th quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company's stock worth $692,517,000 after purchasing an additional 2,277,839 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of eBay by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company's stock worth $435,665,000 after purchasing an additional 245,624 shares during the period. Northern Trust Corp lifted its position in shares of eBay by 17.8% in the 4th quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company's stock worth $421,834,000 after purchasing an additional 1,030,292 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of eBay by 7.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,834,195 shares of the e-commerce company's stock worth $361,428,000 after acquiring an additional 386,568 shares in the last quarter. Hedge funds and other institutional investors own 87.48% of the company's stock.

eBay Stock Performance

Shares of NASDAQ EBAY opened at $81.43 on Monday. The firm has a 50 day moving average of $76.26 and a 200 day moving average of $70.11. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $37.54 billion, a price-to-earnings ratio of 19.39, a price-to-earnings-growth ratio of 2.27 and a beta of 1.26. eBay Inc. has a 12-month low of $53.64 and a 12-month high of $83.53.

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

Insider Buying and Selling at eBay

In other eBay news, SVP Cornelius Boone sold 2,985 shares of eBay stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $78.67, for a total transaction of $234,829.95. Following the transaction, the senior vice president owned 92,053 shares of the company's stock, valued at $7,241,809.51. The trade was a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Julie A. Loeger sold 92,895 shares of eBay stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $72.06, for a total transaction of $6,694,013.70. Following the transaction, the senior vice president directly owned 123,282 shares in the company, valued at $8,883,700.92. This represents a 42.97% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 347,222 shares of company stock valued at $25,143,522. 0.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Sanford C. Bernstein lowered shares of eBay from an "outperform" rating to a "market perform" rating and decreased their price target for the stock from $70.00 to $65.00 in a research note on Tuesday, April 22nd. TD Securities increased their price target on shares of eBay from $62.00 to $64.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on shares of eBay from $66.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft increased their price target on shares of eBay from $75.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Finally, Barclays increased their price target on shares of eBay from $72.00 to $77.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $69.42.

eBay Profile

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.

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