Sumitomo Mitsui Trust Holdings Inc. Sells 48,161 Shares of eBay Inc. (NASDAQ:EBAY)

Sumitomo Mitsui Trust Holdings Inc. cut its position in eBay Inc. (NASDAQ:EBAY) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,283,825 shares of the e-commerce company’s stock after selling 48,161 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.25% of eBay worth $56,000,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Louisiana State Employees Retirement System bought a new position in eBay in the fourth quarter valued at about $1,370,000. Simplicity Solutions LLC raised its position in shares of eBay by 12.0% during the fourth quarter. Simplicity Solutions LLC now owns 48,117 shares of the e-commerce company’s stock worth $2,099,000 after acquiring an additional 5,161 shares during the last quarter. Valeo Financial Advisors LLC raised its position in shares of eBay by 5.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 7,137 shares of the e-commerce company’s stock worth $311,000 after acquiring an additional 365 shares during the last quarter. Sapient Capital LLC bought a new position in shares of eBay during the fourth quarter worth about $955,000. Finally, Cerity Partners LLC raised its position in shares of eBay by 32.5% during the fourth quarter. Cerity Partners LLC now owns 46,233 shares of the e-commerce company’s stock worth $2,017,000 after acquiring an additional 11,331 shares during the last quarter. 87.48% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EBAY. Susquehanna raised their price objective on eBay from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft raised their price objective on eBay from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company raised their price objective on eBay from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 4th. Truist Financial raised their target price on eBay from $47.00 to $48.00 and gave the stock a “hold” rating in a research note on Thursday, February 29th. Finally, StockNews.com raised eBay from a “hold” rating to a “buy” rating in a research note on Sunday, April 14th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $49.21.

eBay Stock Performance

Shares of EBAY stock opened at $49.95 on Friday. The firm has a market capitalization of $25.87 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 2.03 and a beta of 1.33. The firm has a fifty day simple moving average of $49.07 and a two-hundred day simple moving average of $44.20. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.09. eBay Inc. has a 12 month low of $37.17 and a 12 month high of $52.93.

eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Tuesday, February 27th. The e-commerce company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.51 billion. eBay had a net margin of 27.36% and a return on equity of 29.16%. eBay’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.87 EPS. Analysts forecast that eBay Inc. will post 3.69 EPS for the current fiscal year.

eBay Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were paid a $0.27 dividend. This is a positive change from eBay’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.16%. eBay’s dividend payout ratio is presently 20.69%.

eBay announced that its board has initiated a stock buyback program on Tuesday, February 27th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the e-commerce company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at eBay

In other news, SVP Edward O. Garcia sold 1,165 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now owns 31,888 shares in the company, valued at approximately $1,372,140.64. The transaction 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 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.