eBay Inc. $EBAY Stock Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lowered its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 4.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,206,101 shares of the e-commerce company’s stock after selling 160,700 shares during the period. eBay makes up 2.7% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 5th largest holding. Beutel Goodman & Co Ltd.’s holdings in eBay were worth $340,007,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Rakuten Investment Management Inc. bought a new position in eBay during the 2nd quarter valued at approximately $7,929,000. Lombard Odier Asset Management Europe Ltd purchased a new position in eBay during the second quarter valued at $23,393,000. Marvin & Palmer Associates Inc. bought a new stake in eBay in the second quarter worth $3,989,000. Empowered Funds LLC bought a new stake in eBay in the second quarter worth $16,967,000. Finally, Glenview Trust Co bought a new stake in eBay in the second quarter worth $1,544,000. Institutional investors own 87.48% of the company’s stock.

Key eBay News

Here are the key news stories impacting eBay this week:

• Positive Sentiment: A Zacks article included eBay among non-tech Nasdaq stocks with improving earnings estimates and growth opportunities, offering a modestly positive investment signal. Zacks article
• Neutral Sentiment: CEO Jamie Iannone sold 11,110 shares for about $1.37 million, reducing his direct holding by 5.16%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, which makes it less clearly a signal about the company’s near-term outlook. SEC filing
• Negative Sentiment: The UK government is considering restricting under-16s’ access to online marketplaces including eBay, citing concerns about contact with strangers. If adopted, the measure could require age-verification changes and limit access to younger users; it remains under consideration, not a finalized ban. Sky News article

Insiders Place Their Bets

In related news, SVP Jordan Sweetnam sold 1,014 shares of the stock in a transaction 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 sale, the senior vice president directly owned 35,546 shares of the company’s stock, valued at $3,604,008.94. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jamie Iannone sold 11,110 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $122.98, for a total value of $1,366,307.80. Following the sale, the chief executive officer directly owned 204,049 shares in the company, valued at $25,093,946.02. This trade represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 34,344 shares of company stock worth $3,795,885. Corporate insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

EBAY has been the topic of a number of recent research reports. Morgan Stanley increased their target price on eBay from $132.00 to $140.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. BMO Capital Markets reaffirmed an “outperform” rating on shares of eBay in a research report on Thursday, October 29th. Oppenheimer set a $150.00 price target on eBay in a research report on Thursday, October 29th. Wells Fargo & Company upgraded shares of eBay from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $91.00 to $106.00 in a research note on Thursday, October 29th. Finally, Wedbush increased their price objective on shares of eBay from $137.00 to $153.00 and gave the company an “outperform” rating in a research report on Thursday, October 29th. Seventeen investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, eBay presently has a consensus rating of “Hold” and a consensus target price of $123.52.

eBay Price Performance

Shares of NASDAQ EBAY opened at $120.97 on Tuesday. The firm has a market cap of $53.11 billion, a P/E ratio of 26.41, a PEG ratio of 2.99 and a beta of 1.30. eBay Inc. has a twelve month low of $78.03 and a twelve month high of $127.74. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. The company has a 50 day moving average of $112.86 and a 200 day moving average of $104.71.

eBay (NASDAQ:EBAY) last issued its earnings results 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 business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period last year, the business posted $1.36 EPS. The company’s revenue was up 13.7% compared to the same quarter last year. As a group, research analysts expect that eBay Inc. will post 4.75 EPS for the current fiscal year.

eBay Dividend Announcement

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

eBay Company 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.