Employees Retirement System of Texas cut its stake in shares of eBay Inc. (NASDAQ:EBAY – Free Report) by 42.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 61,287 shares of the e-commerce company’s stock after selling 44,690 shares during the period. Employees Retirement System of Texas’ holdings in eBay were worth $5,338,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Allianz Asset Management GmbH increased its holdings in eBay by 10.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,459,405 shares of the e-commerce company’s stock valued at $223,683,000 after purchasing an additional 242,168 shares in the last quarter. Independent Advisor Alliance boosted its stake in shares of eBay by 407.8% during the 3rd quarter. Independent Advisor Alliance now owns 26,469 shares of the e-commerce company’s stock valued at $2,407,000 after buying an additional 21,257 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of eBay by 30.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 181,787 shares of the e-commerce company’s stock worth $16,534,000 after buying an additional 42,048 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of eBay by 4.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,931,042 shares of the e-commerce company’s stock worth $255,294,000 after buying an additional 113,553 shares in the last quarter. Finally, Allworth Financial LP increased its stake in shares of eBay by 62.6% in the fourth quarter. Allworth Financial LP now owns 23,108 shares of the e-commerce company’s stock worth $2,013,000 after buying an additional 8,899 shares during 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 $110.36 on Thursday. The stock has a market capitalization of $49.00 billion, a P/E ratio of 25.03, a P/E/G ratio of 2.57 and a beta of 1.39. The firm’s 50-day moving average price is $101.92 and its two-hundred day moving average price is $92.33. eBay Inc. has a 52-week low of $71.85 and a 52-week high of $119.31. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.36.
eBay Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a $0.31 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.24 annualized dividend and a yield of 1.1%. eBay’s dividend payout ratio (DPR) is currently 28.12%.
Insider Activity
In other eBay news, SVP Jordan Douglas Bradle Sweetnam sold 12,978 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $92.44, for a total value of $1,199,686.32. Following the completion of the transaction, the senior vice president owned 42,948 shares in the company, valued at approximately $3,970,113.12. This represents a 23.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jamie Iannone sold 21,000 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $97.37, for a total transaction of $2,044,770.00. Following the completion of the sale, the chief executive officer owned 352,653 shares in the company, valued at $34,337,822.61. The trade was a 5.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 136,953 shares of company stock valued at $14,139,444. Company insiders own 0.64% of the company’s stock.
Key Headlines Impacting eBay
Here are the key news stories impacting eBay this week:
- Positive Sentiment: Takeover speculation could still support the stock if a higher or more credible bid emerges, as GameStop’s Ryan Cohen has said he may pursue other options after eBay rejected his $56 billion offer. Wall Street awaits GameStop CEO Cohen’s next move after eBay rejected takeover bid
- Positive Sentiment: Wall Street coverage has highlighted eBay’s strong recent earnings and revenue growth, and some analysts still view the company as a steady compounder with improved profitability. Is eBay Stock A Compounding Engine?
- Neutral Sentiment: Brokerages continue to rate eBay as “Hold,” suggesting investors are waiting for clearer catalysts before bidding the shares meaningfully higher. eBay Inc. (NASDAQ:EBAY) Given Consensus Rating of “Hold” by Brokerages
- Negative Sentiment: Arete Research trimmed its price target on eBay to $111 from $113 and kept a neutral rating, signaling more limited upside from current levels. Arete adjusts price target on eBay to $111 from $113, maintains neutral rating
- Negative Sentiment: eBay SVP Mazen Rawashdeh sold 50,000 shares in a pre-arranged trading plan, a move that can add to investor caution even though it was disclosed and not necessarily a negative signal on fundamentals. SEC Form 4 filing
Wall Street Analyst Weigh In
A number of research firms have commented on EBAY. Arete Research reduced their price objective on shares of eBay from $113.00 to $111.00 and set a “neutral” rating on the stock in a research note on Tuesday. Citizens Jmp boosted their target price on shares of eBay from $115.00 to $120.00 and gave the stock a “market outperform” rating in a research report on Friday, May 1st. JPMorgan Chase & Co. upped their target price on shares of eBay from $87.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Wells Fargo & Company lifted their price target on eBay from $100.00 to $104.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Finally, Rothschild & Co Redburn boosted their price objective on eBay from $100.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Thirteen investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $107.84.
Check Out Our Latest Analysis on eBay
eBay Profile
eBay Inc is a global e-commerce company that operates an online marketplace connecting individual consumers and businesses for the sale and purchase of new, used and collectible goods. Founded in 1995 by Pierre Omidyar and headquartered in San Jose, California, eBay grew from its early auction-style site into a diversified platform offering both auction-format listings and fixed-price “Buy It Now” transactions. The company completed an initial public offering in the late 1990s and has since evolved its platform and services to support a broad range of product categories and buyer preferences.
The company’s core business centers on its marketplace platform, which provides listing, search and transaction capabilities for millions of items across consumer goods, electronics, fashion, collectibles and more.
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