Latest Stocks: Bank of New York Mellon Corp Sells 1,849,737 Shares of eBay Inc (EBAY)

Latest Stocks: Bank of New York Mellon Corp Sells 1,849,737 Shares of eBay Inc (EBAY)

Bank of New York Mellon Corp lowered its position in shares of eBay Inc (NASDAQ:EBAY) by 9.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,838,587 shares of the e-commerce company’s stock after selling 1,849,737 shares during the period. Bank of New York Mellon Corp owned 1.56% of eBay worth $565,271,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital One National Association acquired a new position in shares of eBay during the third quarter worth approximately $281,000. APG Asset Management N.V. raised its position in shares of eBay by 153.4% in the third quarter. APG Asset Management N.V. now owns 3,887,587 shares of the e-commerce company’s stock worth $127,902,000 after buying an additional 2,353,352 shares during the period. Tocqueville Asset Management L.P. raised its position in shares of eBay by 0.3% in the third quarter. Tocqueville Asset Management L.P. now owns 392,576 shares of the e-commerce company’s stock worth $12,916,000 after buying an additional 1,251 shares during the period. Advisors Asset Management Inc. raised its position in shares of eBay by 14.2% in the third quarter. Advisors Asset Management Inc. now owns 183,959 shares of the e-commerce company’s stock worth $6,052,000 after buying an additional 22,853 shares during the period. Finally, Mizuho Trust & Banking Co. Ltd. raised its position in shares of eBay by 1.7% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,781,011 shares of the e-commerce company’s stock worth $58,595,000 after buying an additional 30,243 shares during the period. 85.86% of the stock is currently owned by institutional investors.

eBay Inc (NASDAQ EBAY) opened at 35.55 on Tuesday. The company has a market capitalization of $38.48 billion, a P/E ratio of 5.12 and a beta of 1.31. eBay Inc has a 12 month low of $22.30 and a 12 month high of $36.02. The firm has a 50-day moving average price of $33.87 and a 200 day moving average price of $32.26.

EBAY has been the topic of a number of research analyst reports. Vetr lowered eBay from a “buy” rating to a “hold” rating and set a $35.08 price target on the stock. in a report on Thursday, February 16th. Pacific Crest initiated coverage on eBay in a report on Friday, February 17th. They set a “sector weight” rating on the stock. SunTrust Banks, Inc. reissued a “hold” rating and set a $33.00 price target on shares of eBay in a report on Wednesday, February 22nd. Canaccord Genuity reissued a “hold” rating and set a $31.00 price target on shares of eBay in a report on Wednesday, March 1st. Finally, Robert W. Baird reaffirmed an “in-line” rating and set a $38.00 target price on shares of eBay in a report on Monday, March 13th. Two equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eighteen have given a buy rating to the company. eBay presently has a consensus rating of “Hold” and a consensus price target of $35.46. In other news, SVP Stephen Fisher sold 33,008 shares of the stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $32.35, for a total transaction of $1,067,808.80. Following the transaction, the senior vice president now owns 109,468 shares in the company, valued at $3,541,289.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan sold 25,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $35.00, for a total value of $875,000.00. Following the transaction, the director now owns 286,562 shares in the company, valued at approximately $10,029,670. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,712 shares of company stock valued at $2,877,612. Insiders own 7.40% of the company’s stock.

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