California Public Employees Retirement System Sells 40,858 Shares of eBay Inc. (NASDAQ:EBAY)

California Public Employees Retirement System decreased its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 3.8% in the 4th quarter, HoldingsChannel reports. The firm owned 1,033,450 shares of the e-commerce company’s stock after selling 40,858 shares during the period. California Public Employees Retirement System’s holdings in eBay were worth $45,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of EBAY. CVA Family Office LLC bought a new stake in shares of eBay during the 4th quarter worth about $25,000. First Command Advisory Services Inc. bought a new stake in shares of eBay during the third quarter worth approximately $46,000. Cambridge Trust Co. grew its position in shares of eBay by 135.0% in the fourth quarter. Cambridge Trust Co. now owns 1,175 shares of the e-commerce company’s stock valued at $51,000 after purchasing an additional 675 shares during the last quarter. NBC Securities Inc. bought a new position in shares of eBay during the third quarter worth approximately $55,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of eBay during the third quarter worth approximately $71,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at eBay

In other news, SVP Edward O. Garcia sold 1,165 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total value of $50,129.95. Following the transaction, the senior vice president now owns 31,888 shares in the company, valued at approximately $1,372,140.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on EBAY. Barclays increased their price objective on eBay from $55.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. UBS Group increased their target price on shares of eBay from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. StockNews.com upgraded eBay from a “hold” rating to a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on eBay from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Piper Sandler raised their target price on shares of eBay from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $49.21.

eBay Price Performance

EBAY stock opened at $52.02 on Friday. The company has a market capitalization of $26.95 billion, a P/E ratio of 9.97, a PEG ratio of 2.04 and a beta of 1.33. The company has a fifty day moving average price of $50.11 and a 200-day moving average price of $44.54. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.44 and a current ratio of 2.44. eBay Inc. has a 52-week low of $37.17 and a 52-week high of $52.93.

eBay (NASDAQ:EBAY) last announced its earnings results on Tuesday, February 27th. The e-commerce company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.04. eBay had a return on equity of 29.16% and a net margin of 27.36%. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the company earned $0.87 EPS. eBay’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts expect that eBay Inc. will post 3.75 EPS for the current year.

eBay announced that its Board of Directors has approved a stock repurchase plan on Tuesday, February 27th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the e-commerce company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

eBay Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, March 8th. This is a boost from eBay’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 2.08%. eBay’s dividend payout ratio is presently 20.69%.

eBay Profile

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company's marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.