Profund Advisors LLC Reduces Stock Position in eBay Inc. (NASDAQ:EBAY)

Profund Advisors LLC lowered its position in shares of eBay Inc. (NASDAQ:EBAYGet Rating) by 25.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 92,180 shares of the e-commerce company’s stock after selling 32,217 shares during the quarter. Profund Advisors LLC’s holdings in eBay were worth $5,278,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of eBay in the 4th quarter worth about $240,751,000. Nordea Investment Management AB increased its stake in shares of eBay by 34.3% in the 1st quarter. Nordea Investment Management AB now owns 13,435,649 shares of the e-commerce company’s stock worth $783,433,000 after acquiring an additional 3,428,575 shares in the last quarter. Maj Invest Holding A S increased its stake in shares of eBay by 44.9% in the 1st quarter. Maj Invest Holding A S now owns 6,926,387 shares of the e-commerce company’s stock worth $396,604,000 after acquiring an additional 2,147,372 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of eBay by 43.1% in the 4th quarter. Nuveen Asset Management LLC now owns 5,730,780 shares of the e-commerce company’s stock worth $381,096,000 after acquiring an additional 1,726,110 shares in the last quarter. Finally, Yacktman Asset Management LP bought a new stake in eBay during the 1st quarter valued at about $97,288,000. Hedge funds and other institutional investors own 88.99% of the company’s stock.

Insider Buying and Selling at eBay

In other eBay news, CAO Brian J. Doerger sold 7,942 shares of eBay stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $45.16, for a total transaction of $358,660.72. Following the transaction, the chief accounting officer now owns 18,562 shares of the company’s stock, valued at $838,259.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Brian J. Doerger sold 7,942 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $45.16, for a total value of $358,660.72. Following the transaction, the chief accounting officer now owns 18,562 shares of the company’s stock, valued at $838,259.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Brian J. Doerger sold 3,633 shares of the business’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $47.95, for a total transaction of $174,202.35. Following the completion of the transaction, the chief accounting officer now directly owns 14,929 shares in the company, valued at approximately $715,845.55. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

eBay Stock Performance

Shares of EBAY traded down $1.00 on Wednesday, reaching $48.50. The company’s stock had a trading volume of 152,645 shares, compared to its average volume of 5,108,577. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $26.64 billion, a P/E ratio of 115.53, a PEG ratio of 1.99 and a beta of 1.22. The stock’s 50 day simple moving average is $45.22 and its two-hundred day simple moving average is $50.54. eBay Inc. has a 12-month low of $40.52 and a 12-month high of $81.19.

eBay (NASDAQ:EBAYGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The e-commerce company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.09. eBay had a net margin of 3.60% and a return on equity of 24.42%. During the same quarter in the prior year, the company earned $0.82 EPS. Research analysts forecast that eBay Inc. will post 3.24 earnings per share for the current fiscal year.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders of record on Thursday, September 1st will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.81%. The ex-dividend date is Wednesday, August 31st. eBay’s dividend payout ratio is currently 209.53%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. The Goldman Sachs Group lowered shares of eBay from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $52.00 to $42.00 in a research note on Thursday, June 9th. Atlantic Securities reduced their price objective on shares of eBay to $50.00 in a research note on Tuesday, August 9th. Robert W. Baird raised their price objective on shares of eBay from $54.00 to $60.00 in a research note on Thursday, August 4th. JPMorgan Chase & Co. reduced their price objective on shares of eBay from $54.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, June 29th. Finally, Piper Sandler reduced their price objective on shares of eBay from $63.00 to $59.00 and set an “overweight” rating for the company in a research note on Thursday, August 4th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, eBay currently has a consensus rating of “Hold” and an average target price of $60.24.

eBay Company Profile

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eBay Inc operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, directories, search engines, commerce participants, shopping channels, and networks.

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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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