Intech Investment Management LLC Reduces Position in eBay Inc. (NASDAQ:EBAY)

Intech Investment Management LLC cut its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 13.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 153,066 shares of the e-commerce company’s stock after selling 22,918 shares during the period. Intech Investment Management LLC’s holdings in eBay were worth $6,677,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in eBay during the fourth quarter valued at $25,000. First Command Advisory Services Inc. acquired a new position in shares of eBay in the third quarter worth about $46,000. Cambridge Trust Co. raised 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 worth $51,000 after acquiring an additional 675 shares during the period. NBC Securities Inc. acquired a new position in shares of eBay in the third quarter worth about $55,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of eBay in the third quarter worth about $71,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EBAY. TD Cowen upped their price objective on shares of eBay from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Morgan Stanley reduced their price target on shares of eBay from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Wells Fargo & Company upped their price target on shares of eBay from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Piper Sandler upped their price target on shares of eBay from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Finally, UBS Group upped their price target 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. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.45.

Insider Transactions at eBay

In other news, SVP Marie Oh Huber sold 49,070 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $49.63, for a total value of $2,435,344.10. Following the transaction, the senior vice president now directly owns 177,391 shares in the company, valued at approximately $8,803,915.33. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.21% of the company’s stock.

eBay Trading Up 3.0 %

Shares of eBay stock traded up $1.60 during mid-day trading on Friday, hitting $54.41. The stock had a trading volume of 7,773,908 shares, compared to its average volume of 5,228,400. The firm has a 50-day moving average of $51.47 and a two-hundred day moving average of $46.08. eBay Inc. has a 12-month low of $37.17 and a 12-month high of $54.59. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.98. The firm has a market cap of $27.53 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31.

eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, May 1st. The e-commerce company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.20 by $0.05. eBay had a net margin of 25.97% and a return on equity of 29.11%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the business posted $0.87 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Sell-side analysts forecast that eBay Inc. will post 3.72 earnings per share for the current year.

eBay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.27 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.08 annualized dividend and a dividend yield of 1.98%. eBay’s dividend payout ratio is currently 21.51%.

eBay announced that its board has initiated a share buyback program 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 purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

About eBay

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.