ProShare Advisors LLC lifted its stake in eBay Inc. (NASDAQ:EBAY) by 55.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,659,951 shares of the e-commerce company’s stock after purchasing an additional 590,006 shares during the period. ProShare Advisors LLC owned about 0.24% of eBay worth $83,413,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in eBay by 5.5% in the fourth quarter. FMR LLC now owns 21,125,914 shares of the e-commerce company’s stock valued at $1,061,577,000 after purchasing an additional 1,094,743 shares during the period. M&T Bank Corp raised its stake in eBay by 280.0% in the third quarter. M&T Bank Corp now owns 9,718,202 shares of the e-commerce company’s stock valued at $506,319,000 after buying an additional 7,160,659 shares in the last quarter. AKO Capital LLP raised its stake in eBay by 7.0% in the third quarter. AKO Capital LLP now owns 9,047,389 shares of the e-commerce company’s stock valued at $471,369,000 after buying an additional 589,663 shares in the last quarter. First Trust Advisors LP raised its stake in eBay by 6.4% in the fourth quarter. First Trust Advisors LP now owns 7,879,276 shares of the e-commerce company’s stock valued at $395,934,000 after buying an additional 470,661 shares in the last quarter. Finally, Ninety One UK Ltd raised its stake in eBay by 39.2% in the fourth quarter. Ninety One UK Ltd now owns 5,263,054 shares of the e-commerce company’s stock valued at $264,468,000 after buying an additional 1,482,660 shares in the last quarter. Hedge funds and other institutional investors own 90.13% of the company’s stock.
EBAY has been the topic of a number of analyst reports. Truist raised their price target on eBay from $60.00 to $67.00 in a research note on Thursday, February 4th. Bank of America raised their price target on eBay from $62.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. DA Davidson lifted their target price on eBay from $67.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 4th. Credit Suisse Group lifted their target price on eBay from $70.00 to $76.00 and gave the stock an “outperform” rating in a research report on Thursday, February 4th. Finally, Morgan Stanley lifted their target price on eBay from $58.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 4th. Thirteen research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $67.20.
eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Tuesday, February 2nd. The e-commerce company reported $0.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.03. eBay had a return on equity of 82.73% and a net margin of 50.42%. The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.71 billion. During the same quarter in the previous year, the company earned $0.81 EPS. The firm’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, sell-side analysts predict that eBay Inc. will post 2.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 19th. Shareholders of record on Monday, March 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Friday, February 26th. This is a positive change from eBay’s previous quarterly dividend of $0.16. eBay’s payout ratio is currently 27.59%.
eBay announced that its Board of Directors has approved a stock buyback program on Wednesday, February 3rd that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the e-commerce company to buy up to 10% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, SVP Pete Thompson sold 853 shares of the business’s stock in a transaction that occurred on Thursday, December 17th. The stock was sold at an average price of $53.63, for a total transaction of $45,746.39. Following the sale, the senior vice president now owns 14,801 shares of the company’s stock, valued at approximately $793,777.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Andrew John Cring sold 9,512 shares of the business’s stock in a transaction that occurred on Tuesday, January 19th. The stock was sold at an average price of $57.00, for a total value of $542,184.00. Following the sale, the chief financial officer now directly owns 122,664 shares in the company, valued at approximately $6,991,848. The disclosure for this sale can be found here. Insiders sold a total of 13,083 shares of company stock worth $757,805 in the last ninety days. 5.02% of the stock is owned by corporate insiders.
eBay Inc operates marketplace platforms that connect buyers and sellers worldwide. The company's Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, classifieds, directories, search engines, commerce participants, shopping channels, and networks.
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