Kentucky Retirement Systems Grows Position in eBay Inc. $EBAY

Kentucky Retirement Systems grew its position in eBay Inc. (NASDAQ:EBAY) by 232.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,196 shares of the e-commerce company’s stock after purchasing an additional 67,279 shares during the period. Kentucky Retirement Systems’ holdings in eBay were worth $8,756,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Cedar Mountain Advisors LLC raised its holdings in eBay by 128.9% in the first quarter. Cedar Mountain Advisors LLC now owns 277 shares of the e-commerce company’s stock valued at $25,000 after buying an additional 156 shares during the period. High Point Wealth Management LLC purchased a new stake in eBay during the fourth quarter worth approximately $26,000. Abound Financial LLC acquired a new stake in shares of eBay in the fourth quarter worth $26,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of eBay in the 1st quarter valued at $26,000. Finally, Jessup Wealth Management Inc purchased a new position in shares of eBay in the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Key Headlines Impacting eBay

Here are the key news stories impacting eBay this week:

• Positive Sentiment: Wall Street expects eBay to report year-over-year earnings growth in its upcoming results. The company’s prior quarter exceeded consensus estimates, with revenue rising 19.5% and adjusted earnings reaching $1.66 per share versus expectations of $1.58. eBay Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: eBay is projected to report quarterly results on Wednesday. However, Zacks said the company does not currently show the combination of factors that typically supports a likely earnings beat, tempering the benefit of projected earnings growth. eBay Projected to Post Quarterly Earnings
• Negative Sentiment: eBay and three former senior executives agreed to pay approximately $55.7 million, or nearly $56 million, to settle a lawsuit involving a 2019 stalking and harassment campaign against a Massachusetts couple who published an e-commerce newsletter. The settlement creates a meaningful legal expense and renews reputational concerns related to former management, although the payment is tied to conduct from several years ago. eBay and Former Executives Agree to $56 Million Settlement

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EBAY shares. Susquehanna increased their price target on eBay from $95.00 to $110.00 and gave the company a “neutral” rating in a report on Friday, May 1st. Barclays increased their target price on eBay from $104.00 to $114.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Cantor Fitzgerald boosted their price target on eBay from $100.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. TD Cowen increased their price objective on shares of eBay from $87.00 to $88.00 and gave the company a “hold” rating in a research report on Friday, May 1st. Finally, Morgan Stanley lifted their price objective on shares of eBay to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Fourteen research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, eBay currently has a consensus rating of “Hold” and an average target price of $110.52.

Insider Buying and Selling at eBay

In other news, SVP Mazen Rawashdeh sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $117.04, for a total transaction of $5,852,000.00. Following the completion of the sale, the senior vice president owned 29,217 shares of the company’s stock, valued at approximately $3,419,557.68. This trade represents a 63.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jordan Douglas Bradle Sweetnam sold 1,010 shares of eBay stock in a transaction on Monday, May 18th. The stock was sold at an average price of $115.61, for a total transaction of $116,766.10. Following the completion of the sale, the senior vice president owned 32,146 shares of the company’s stock, valued at approximately $3,716,399.06. This trade represents a 3.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 76,012 shares of company stock valued at $8,747,852 in the last three months. Corporate insiders own 0.67% of the company’s stock.

eBay Stock Down 1.8%

Shares of NASDAQ EBAY opened at $115.30 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.22 and a current ratio of 1.22. eBay Inc. has a 1 year low of $77.12 and a 1 year high of $119.31. The stock’s 50-day simple moving average is $111.48 and its 200-day simple moving average is $100.78. The firm has a market cap of $51.19 billion, a price-to-earnings ratio of 26.15, a PEG ratio of 2.58 and a beta of 1.37.

eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Wednesday, April 29th. The e-commerce company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. eBay had a return on equity of 46.11% and a net margin of 17.58%.The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the business posted $1.38 earnings per share. eBay’s revenue for the quarter was up 19.5% on a year-over-year basis. As a group, equities analysts anticipate that eBay Inc. will post 4.89 earnings per share for the current fiscal year.

eBay Company Profile

eBay Inc is a global e-commerce company that operates an online marketplace connecting individual consumers and businesses for the sale and purchase of new, used and collectible goods. Founded in 1995 by Pierre Omidyar and headquartered in San Jose, California, eBay grew from its early auction-style site into a diversified platform offering both auction-format listings and fixed-price “Buy It Now” transactions. The company completed an initial public offering in the late 1990s and has since evolved its platform and services to support a broad range of product categories and buyer preferences.

The company’s core business centers on its marketplace platform, which provides listing, search and transaction capabilities for millions of items across consumer goods, electronics, fashion, collectibles and more.