State Board of Administration of Florida Retirement System reduced its stake in eBay Inc. (NASDAQ:EBAY) by 4.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 924,996 shares of the e-commerce company’s stock after selling 41,411 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.14% of eBay worth $64,944,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in eBay by 161.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 141,903 shares of the e-commerce company’s stock valued at $9,963,000 after acquiring an additional 87,563 shares during the period. Blackhawk Capital Partners LLC. bought a new stake in eBay in the 1st quarter valued at about $1,043,000. Hamilton Point Investment Advisors LLC raised its stake in eBay by 1.5% in the 1st quarter. Hamilton Point Investment Advisors LLC now owns 156,768 shares of the e-commerce company’s stock valued at $9,600,000 after acquiring an additional 2,279 shares during the period. Teachers Retirement System of The State of Kentucky raised its stake in eBay by 14.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 387,947 shares of the e-commerce company’s stock valued at $23,757,000 after acquiring an additional 47,630 shares during the period. Finally, Kiwi Wealth Investments Limited Partnership raised its stake in eBay by 7.8% in the 1st quarter. Kiwi Wealth Investments Limited Partnership now owns 85,462 shares of the e-commerce company’s stock valued at $5,234,000 after acquiring an additional 6,167 shares during the period. 90.78% of the stock is currently owned by institutional investors.
In other eBay news, CAO Brian J. Doerger sold 2,862 shares of the stock in a transaction on Monday, August 30th. The stock was sold at an average price of $77.69, for a total value of $222,348.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anthony John Bates sold 19,060 shares of the firm’s stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $74.12, for a total value of $1,412,727.20. Following the transaction, the director now owns 20,360 shares of the company’s stock, valued at $1,509,083.20. The disclosure for this sale can be found here. Insiders sold 79,460 shares of company stock valued at $5,844,236 in the last ninety days. 0.21% of the stock is currently owned by insiders.
eBay (NASDAQ:EBAY) last released its quarterly earnings data on Wednesday, August 11th. The e-commerce company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.16. eBay had a return on equity of 38.34% and a net margin of 115.40%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the firm posted $1.02 earnings per share. Research analysts predict that eBay Inc. will post 3.24 EPS for the current year.
eBay declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the e-commerce company to repurchase up to 6.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 17th. Investors of record on Wednesday, September 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend is Tuesday, August 31st. eBay’s payout ratio is 24.57%.
A number of equities research analysts recently issued reports on EBAY shares. Barclays boosted their price objective on eBay from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Thursday, August 12th. Piper Sandler upped their price target on eBay from $79.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, August 27th. Cowen upped their price target on eBay from $65.00 to $72.00 and gave the company a “market perform” rating in a research report on Monday, August 9th. The Goldman Sachs Group reiterated a “positive” rating on shares of eBay in a research report on Monday. Finally, Mizuho upped their price target on eBay from $63.00 to $65.00 and gave the company a “neutral” rating in a research report on Thursday, August 12th. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.59.
eBay, Inc operates as a commerce company. The company platforms include online marketplace and its localized counterparts, including off-platform businesses in South Korea, Japan, and Turkey, as well as eBay’s suite of mobile apps. The company technologies and services are designed to give buyers choice and a breadth of relevant inventory and to enable sellers worldwide to organize and offer their inventory for sale, virtually anytime and anywhere.
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