Pacer Advisors Inc. Buys 2,154,735 Shares of eBay Inc. (NASDAQ:EBAY)

Key Points

• Pacer Advisors Inc. significantly increased its stake in eBay Inc. by 5,181.4% during Q1, acquiring over 2.15 million shares, bringing its total ownership to about 2.2 million shares valued at approximately $148.76 million.
• In insider activity, SVP Julie A. Loeger sold 127,070 shares of eBay stock for about $8.82 million, while CEO Jamie Iannone sold 12,644 shares valued at approximately $999,634.
• eBay reported earnings of $1.38 per share for its last quarter, surpassing expectations, and saw a 1.1% increase in year-over-year revenue to $2.59 billion.

Pacer Advisors Inc. grew its stake in eBay Inc. (NASDAQ:EBAY - Free Report) by 5,181.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,196,321 shares of the e-commerce company's stock after acquiring an additional 2,154,735 shares during the quarter. Pacer Advisors Inc. owned 0.47% of eBay worth $148,757,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of EBAY. Rosenberg Matthew Hamilton lifted its holdings in shares of eBay by 36.5% during the 1st quarter. Rosenberg Matthew Hamilton now owns 598 shares of the e-commerce company's stock valued at $41,000 after purchasing an additional 160 shares in the last quarter. Capital Investment Advisory Services LLC boosted its holdings in shares of eBay by 4.0% in the first quarter. Capital Investment Advisory Services LLC now owns 4,201 shares of the e-commerce company's stock valued at $285,000 after buying an additional 160 shares during the period. Journey Strategic Wealth LLC raised its holdings in shares of eBay by 4.4% during the first quarter. Journey Strategic Wealth LLC now owns 3,921 shares of the e-commerce company's stock worth $266,000 after acquiring an additional 166 shares during the period. Hohimer Wealth Management LLC raised its holdings in shares of eBay by 0.3% during the first quarter. Hohimer Wealth Management LLC now owns 59,414 shares of the e-commerce company's stock worth $4,024,000 after acquiring an additional 167 shares during the period. Finally, Kestra Private Wealth Services LLC lifted its position in eBay by 1.9% in the 1st quarter. Kestra Private Wealth Services LLC now owns 9,149 shares of the e-commerce company's stock valued at $620,000 after acquiring an additional 168 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at eBay

In other eBay news, SVP Julie A. Loeger sold 127,070 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $69.43, for a total transaction of $8,822,470.10. Following the completion of the sale, the senior vice president directly owned 123,282 shares in the company, valued at $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 SEC, which is available at this hyperlink. Also, CEO Jamie Iannone sold 12,644 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $79.06, for a total value of $999,634.64. Following the completion of the transaction, the chief executive officer directly owned 325,053 shares in the company, valued at $25,698,690.18. The trade was a 3.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 347,222 shares of company stock worth $25,143,522. Insiders own 0.64% of the company's stock.

eBay Stock Performance

Shares of NASDAQ EBAY opened at $82.45 on Friday. 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 company has a market capitalization of $38.01 billion, a P/E ratio of 19.63, a P/E/G ratio of 2.29 and a beta of 1.26. eBay Inc. has a 12 month low of $53.10 and a 12 month high of $82.95. The stock has a 50 day moving average of $76.07 and a 200-day moving average of $69.98.

eBay (NASDAQ:EBAY - Get Free Report) last announced its quarterly 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. eBay had a return on equity of 36.60% and a net margin of 19.78%. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the firm posted $1.25 EPS. The company's quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts predict that eBay Inc. will post 3.86 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on EBAY shares. Evercore ISI increased their target price on eBay from $63.00 to $69.00 and gave the stock an "in-line" rating in a report on Thursday, May 1st. JMP Securities reiterated a "market perform" rating on shares of eBay in a report on Thursday, May 1st. Susquehanna lifted their target price on eBay from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Deutsche Bank Aktiengesellschaft upped their price target on eBay from $75.00 to $90.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Cfra Research upgraded shares of eBay to a "moderate buy" rating in a report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, eBay presently has a consensus rating of "Hold" and a consensus target price of $69.42.

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.

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