Geode Capital Management LLC recently announced the acquisition of new stake in EBay Inc. (NASDAQ:EBAY). The institutional investor has increased its shareholding in the Consumer Cyclical company by 2.03% to 11.99 million shares with purchase of 0.24 million shares. This fresh investment now brings its stake to 2.31% valued currently at $523.16 million. In addition, Columbia Management Investment Ad raised its holdings by 3.3 million to 9.95 million shares. And Mirova US LLC has lifted its position by 4.13% or 0.36 million shares – to 9.2 million shares.
Currently, there are 539.00M common shares owned by the public and among those 517.47M shares have been available to trade.
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Insiders at the company have transacted a total of 203 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 107 of these insider trades were purchases, accounting for 982,564 shares. Insider sales of the common stock occurred on 96 occasions, with total insider shares sold totaling 484,867 shares.
The top 3 mutual fund holders in EBay Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 16.3 million shares of the company’s stock, all valued at over $710.86 million. The company sold -0.38 million shares recently to bring their total holdings to about 3.14% of the shares outstanding. Vanguard 500 Index Fund sold -0.3 million shares to see its total holdings shrink to 12.67 million shares valued at over $552.79 million and representing 2.44% of the shares outstanding. Vanguard Mid Cap Index Fund sold -0.47 million shares to bring its total holdings to over 11.63 million shares at a value of $507.34 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.24% of the shares outstanding.
However, the script later moved the day high at 41.88, up 0.85%. The company’s stock has a 5-day price change of 1.74% and 1.59% over the past three months. EBAY shares are trading -5.07% year to date (YTD), with the 12-month market performance down to -11.25% lower. It has a 12-month low price of $37.17 and touched a high of $52.23 over the same period. EBAY has an average intraday trading volume of 6.70 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.47%, -0.62%, and -4.47% respectively.
Institutional ownership of EBay Inc. (NASDAQ: EBAY) shares accounts for 90.49% of the company’s 539.00M shares outstanding. Mutual fund holders own 39.64%, while other institutional holders and individual stakeholders account for 52.03% and 12.10% respectively.
It has a market capitalization of $21.49B and a beta (3y monthly) value of 1.30. The stock’s trailing 12-month PE ratio is 8.19, while the earnings-per-share (ttm) stands at $5.05. The company has a PEG of 1.18 and a Quick Ratio of 2.16 with the debt-to-equity ratio at 1.39. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.72% over the week and 1.79% over the month.
Analysts forecast that EBay Inc. (EBAY) will achieve an EPS of $1.03 for the current quarter, $1.12 for the next quarter and $4.33 for 2024. The lowest estimate earnings-per-share for the quarter is $0.98 while analysts give the company a high EPS estimate of $1.05. Comparatively, EPS for the current quarter was $1.07 a year ago. Earnings per share for the fiscal year are expected to increase by 2.10%, and 6.08% over the next financial year. EPS should grow at an annualized rate of 6.95% over the next five years, compared to -18.93% over the past 5-year period.
Looking at the support for the EBAY, a number of firms have released research notes about the stock. Mizuho stated their Neutral rating for the stock in a research note on January 17, 2024, with the firm’s price target at $42-$40.
