eBay Inc. $EBAY Position Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 5.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 234,301 shares of the e-commerce company’s stock after selling 13,588 shares during the period. Pictet Asset Management Holding SA owned 0.05% of eBay worth $24,848,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in EBAY. Parallel Advisors LLC boosted its holdings in eBay by 4.5% in the third quarter. Parallel Advisors LLC now owns 12,373 shares of the e-commerce company’s stock worth $1,312,000 after acquiring an additional 535 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of eBay by 191.3% in the third quarter. Alps Advisors Inc. now owns 29,972 shares of the e-commerce company’s stock worth $3,179,000 after acquiring an additional 19,684 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in shares of eBay by 43.6% during the third quarter. Ashton Thomas Private Wealth LLC now owns 12,000 shares of the e-commerce company’s stock valued at $1,273,000 after acquiring an additional 3,644 shares in the last quarter. CenterBook Partners LP increased its holdings in shares of eBay by 382.1% during the third quarter. CenterBook Partners LP now owns 45,995 shares of the e-commerce company’s stock valued at $4,878,000 after acquiring an additional 36,455 shares in the last quarter. Finally, Calamos Advisors LLC raised its position in shares of eBay by 2.1% in the 3rd quarter. Calamos Advisors LLC now owns 144,646 shares of the e-commerce company’s stock worth $15,340,000 after purchasing an additional 2,926 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.

Key Headlines Impacting eBay

Investors following EBAY have been watching these headlines:

• Positive Sentiment: eBay is using AI to take on more of the work involved in selling, which could make listing and managing items easier for sellers and support marketplace activity. eBay is letting AI do the heavy lifting for sellers on the site
• Positive Sentiment: Lower-cost shipping is prompting questions about eBay’s investment case; cheaper delivery could improve the appeal of buying and selling on its marketplace, though the article title alone does not quantify the impact. Is Lower Cost Shipping Altering The Investment Case For eBay (EBAY)?
• Neutral Sentiment: CEO Jamie Iannone sold shares under a pre-arranged Rule 10b5-1 plan; the scheduled nature of the sale makes it a limited signal about management’s outlook. eBay CEO stock sale

Wall Street Analysts Forecast Growth

EBAY has been the topic of a number of analyst reports. Barclays cut shares of eBay from an “overweight” rating to an “underweight” rating in a research note on Thursday, October 29th. Benchmark raised their price objective on shares of eBay from $115.00 to $134.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. UBS Group upgraded shares of eBay from a “neutral” rating to a “buy” rating in a research note on Thursday, October 29th. JPMorgan Chase & Co. lifted their target price on shares of eBay from $107.00 to $125.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Finally, Evercore set a $120.00 target price on shares of eBay in a research note on Thursday, October 29th. Seventeen investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, eBay presently has a consensus rating of “Hold” and an average price target of $123.52.

eBay Stock Down 0.7%

EBAY stock opened at $122.68 on Thursday. eBay Inc. has a 1-year low of $78.03 and a 1-year high of $127.74. The business has a fifty day moving average price of $113.61 and a 200-day moving average price of $105.00. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.78. The stock has a market capitalization of $53.86 billion, a P/E ratio of 25.36, a P/E/G ratio of 2.93 and a beta of 1.30.

eBay (NASDAQ:EBAY) last released its quarterly earnings data on Wednesday, October 28th. The e-commerce company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. eBay had a return on equity of 49.20% and a net margin of 16.84%. The company had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the firm posted $1.36 earnings per share. eBay’s revenue was up 13.7% compared to the same quarter last year. Equities analysts forecast that eBay Inc. will post 4.79 earnings per share for the current fiscal year.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a $0.31 dividend. The ex-dividend date is Friday, December 4th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.0%. eBay’s payout ratio is currently 27.07%.

Insider Activity at eBay

In related news, CEO Jamie Iannone sold 11,110 shares of the stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $122.98, for a total transaction of $1,366,307.80. Following the transaction, the chief executive officer owned 204,049 shares in the company, valued at $25,093,946.02. This represents a 5.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jordan Sweetnam sold 1,014 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $101.39, for a total transaction of $102,809.46. Following the completion of the sale, the senior vice president owned 35,546 shares in the company, valued at $3,604,008.94. This represents a 2.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 34,344 shares of company stock valued at $3,795,885 over the last three months. 0.67% of the stock is owned by corporate insiders.

eBay Profile

eBay Inc. operates a global online marketplace that connects buyers and sellers. Its platform supports both auction-style listings and fixed-price sales across a broad range of categories, including electronics, fashion, collectibles, home goods and auto parts. Founded by Pierre Omidyar in 1995 as AuctionWeb, the company adopted the eBay name in 1997. It also provides services and tools for sellers, including advertising, payments and shipping features that support transactions on its marketplace. eBay serves customers and businesses in markets around the world.