Magellan Asset Management Ltd buys $863.7 Million stake in eBay Inc (EBAY)

eBay Inc (EBAY) : Magellan Asset Management Ltd scooped up 1,077,256 additional shares in eBay Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 36,318,975 shares of eBay Inc which is valued at $863.7 Million.eBay Inc makes up approximately 4.79% of Magellan Asset Management Ltd’s portfolio.

Other Hedge Funds, Including , Nomura Asset Management Co Ltd boosted its stake in EBAY in the latest quarter, The investment management firm added 244,514 additional shares and now holds a total of 874,852 shares of eBay Inc which is valued at $20.8 Million. eBay Inc makes up approx 0.40% of Nomura Asset Management Co Ltd’s portfolio.Wesbanco Bank Inc reduced its stake in EBAY by selling 13,855 shares or 54.52% in the most recent quarter. The Hedge Fund company now holds 11,560 shares of EBAY which is valued at $274,897. eBay Inc makes up approx 0.02% of Wesbanco Bank Inc’s portfolio.Bessemer Group Inc reduced its stake in EBAY by selling 118,431 shares or 89.21% in the most recent quarter. The Hedge Fund company now holds 14,328 shares of EBAY which is valued at $340,720.Gamco Investors Et Al boosted its stake in EBAY in the latest quarter, The investment management firm added 57,200 additional shares and now holds a total of 482,971 shares of eBay Inc which is valued at $11.5 Million. eBay Inc makes up approx 0.08% of Gamco Investors Et Al’s portfolio.Ingalls Snyder reduced its stake in EBAY by selling 2,310 shares or 3.52% in the most recent quarter. The Hedge Fund company now holds 63,250 shares of EBAY which is valued at $1.5 Million. eBay Inc makes up approx 0.09% of Ingalls Snyder’s portfolio.

eBay Inc closed down -0.015 points or -0.06% at $24.035 with 73,43,484 shares getting traded on Wednesday. Post opening the session at $23.91, the shares hit an intraday low of $23.89 and an intraday high of $24.2 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, eBay Inc reported $0.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.45. The company had revenue of $2137.00 million for the quarter, compared to analysts expectations of $2081.10 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.77 EPS.

Many Wall Street Analysts have commented on eBay Inc. Shares were Reiterated by RBC Capital Mkts on Apr 27, 2016 to “Sector Perform” and Lowered the Price Target to $ 28 from a previous price target of $29 .eBay Inc was Downgraded by Morgan Stanley to ” Underweight” on Apr 19, 2016. Shares were Downgraded by Barclays on Mar 29, 2016 to ” Underweight” and Lowered the Price Target to $ 25 from a previous price target of $28 .

eBay Inc.(eBay) is a global technology company. The Company has created an open source platform that provides software developers and merchants access to its applications programming interfaces (APIs) to develop software and solutions for commerce. The Company’s segments include Marketplaces and Payments. The Company’s Marketplaces segment includes its ebay.com platform and its localized counterparts as well as other online platforms such as its online classifieds sites and StubHub. The Company’s Payments segment consists of its PayPal business. Its classifieds Websites include alaMaula BilBasen dba.dk eBay Classifieds (eBay Classifieds eBay Kleinanzeigen and eBay Annunci) Gumtree Kijiji iBazar 2dehands.be 2ememain.be LoQUo Marktplaats.nl and mobile.de. It also offers trust and safety programs including PayPal’s Seller Protection and Purchase Protection Programs through its PayPal. It offers mobile applications for iPhone iPad Android and Windows mobile devices.

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