eBay Inc. (NASDAQ:EBAY) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in eBay Inc. (NASDAQ:EBAY) by 3.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,033,450 shares of the e-commerce company’s stock after selling 40,858 shares during the period. California Public Employees Retirement System owned approximately 0.20% of eBay worth $45,079,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. CVA Family Office LLC acquired a new position in eBay during the 4th quarter worth $25,000. First Command Advisory Services Inc. acquired a new position in shares of eBay during the third quarter worth about $46,000. Cambridge Trust Co. increased its stake in shares of eBay by 135.0% during the fourth quarter. Cambridge Trust Co. now owns 1,175 shares of the e-commerce company’s stock worth $51,000 after buying an additional 675 shares during the period. NBC Securities Inc. purchased a new position in eBay in the third quarter worth approximately $55,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in eBay during the 3rd quarter worth approximately $71,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Truist Financial lifted their price objective on shares of eBay from $47.00 to $48.00 and gave the stock a “hold” rating in a research report on Thursday, February 29th. Morgan Stanley raised eBay from an “underweight” rating to an “overweight” rating in a research report on Thursday, April 18th. Piper Sandler raised their target price on eBay from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. StockNews.com raised eBay from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Susquehanna raised their price objective on shares of eBay from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, eBay presently has a consensus rating of “Hold” and a consensus price target of $49.21.

Insider Activity at eBay

In other news, SVP Edward O. Garcia sold 1,165 shares of eBay stock in a transaction that occurred 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 transaction, the senior vice president now owns 31,888 shares of the company’s stock, valued at approximately $1,372,140.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.21% of the company’s stock.

eBay Trading Up 1.3 %

Shares of EBAY stock opened at $52.02 on Friday. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $52.93. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.09. The business has a fifty day simple moving average of $50.11 and a 200-day simple moving average of $44.54. The stock has a market cap of $26.95 billion, a P/E ratio of 9.97, a P/E/G ratio of 2.04 and a beta of 1.33.

eBay (NASDAQ:EBAY) last posted its earnings results on Tuesday, February 27th. The e-commerce company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. eBay had a return on equity of 29.16% and a net margin of 27.36%. eBay’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. On average, analysts forecast that eBay Inc. will post 3.75 earnings per share for the current fiscal year.

eBay Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were paid a dividend of $0.27 per share. This is a positive change from eBay’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Friday, March 8th. eBay’s dividend payout ratio (DPR) is presently 20.69%.

eBay declared that its board has authorized a share buyback plan on Tuesday, February 27th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the e-commerce company to buy up to 8.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

eBay Company 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.