Oregon Public Employees Retirement Fund reduced its position in shares of eBay Inc (NASDAQ:EBAY) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,096 shares of the e-commerce company’s stock after selling 4,559 shares during the period. Oregon Public Employees Retirement Fund’s holdings in eBay were worth $2,820,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of EBAY. MERIAN GLOBAL INVESTORS UK Ltd lifted its position in shares of eBay by 148.9% during the fourth quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,442,419 shares of the e-commerce company’s stock worth $34,913,000 after purchasing an additional 1,461,318 shares in the last quarter. Man Group plc lifted its position in shares of eBay by 43.5% during the third quarter. Man Group plc now owns 3,979,812 shares of the e-commerce company’s stock worth $155,135,000 after purchasing an additional 1,207,216 shares in the last quarter. Lindsell Train Ltd lifted its position in shares of eBay by 10.7% during the fourth quarter. Lindsell Train Ltd now owns 11,316,771 shares of the e-commerce company’s stock worth $408,649,000 after purchasing an additional 1,098,171 shares in the last quarter. Kensico Capital Management Corp lifted its position in shares of eBay by 16.7% during the third quarter. Kensico Capital Management Corp now owns 6,610,000 shares of the e-commerce company’s stock worth $257,658,000 after purchasing an additional 945,800 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of eBay by 135.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,154,851 shares of the e-commerce company’s stock worth $45,017,000 after purchasing an additional 663,834 shares in the last quarter. 86.53% of the stock is currently owned by institutional investors and hedge funds.
EBAY has been the topic of a number of recent research reports. BidaskClub raised shares of eBay from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 29th. Wells Fargo & Co cut shares of eBay from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $45.00 to $32.00 in a report on Friday, January 17th. BMO Capital Markets cut their price target on shares of eBay from $46.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. UBS Group cut their price target on shares of eBay from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday, October 24th. Finally, Royal Bank of Canada upped their price target on shares of eBay from $36.00 to $37.00 and gave the company a “sector perform” rating in a report on Wednesday, January 29th. Six research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $40.79.
eBay (NASDAQ:EBAY) last released its earnings results on Tuesday, January 28th. The e-commerce company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.05. eBay had a net margin of 16.54% and a return on equity of 50.71%. The firm had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, analysts expect that eBay Inc will post 2.46 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.16 per share. This is a positive change from eBay’s previous quarterly dividend of $0.14. The ex-dividend date is Friday, February 28th. This represents a $0.64 annualized dividend and a yield of 1.68%. eBay’s payout ratio is presently 24.14%.
eBay declared that its board has approved a stock repurchase program on Tuesday, January 28th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the e-commerce company to buy up to 17.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other eBay news, SVP Kristin A. Yetto sold 29,863 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $37.00, for a total transaction of $1,104,931.00. Following the completion of the sale, the senior vice president now owns 56,100 shares in the company, valued at $2,075,700. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Brian J. Doerger sold 3,141 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $36.91, for a total transaction of $115,934.31. Following the sale, the chief accounting officer now owns 39,973 shares of the company’s stock, valued at approximately $1,475,403.43. The disclosure for this sale can be found here. In the last quarter, insiders have sold 193,046 shares of company stock valued at $6,881,384. 6.22% of the stock is owned by insiders.
eBay Inc operates commerce platforms connecting various buyers and sellers worldwide. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay suite of mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.
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