New York Life Investment Management LLC Sells 2,855 Shares of eBay Inc. (NASDAQ:EBAY)

New York Life Investment Management LLC lowered its holdings in eBay Inc. (NASDAQ:EBAY) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 84,312 shares of the e-commerce company’s stock after selling 2,855 shares during the quarter. New York Life Investment Management LLC’s holdings in eBay were worth $3,678,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameriprise Financial Inc. grew its holdings in shares of eBay by 39.8% during the third quarter. Ameriprise Financial Inc. now owns 12,418,131 shares of the e-commerce company’s stock valued at $547,516,000 after buying an additional 3,534,030 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of eBay by 2.7% in the third quarter. Nordea Investment Management AB now owns 11,167,875 shares of the e-commerce company’s stock valued at $495,407,000 after purchasing an additional 289,071 shares in the last quarter. Invesco Ltd. boosted its position in shares of eBay by 16.0% during the third quarter. Invesco Ltd. now owns 8,182,095 shares of the e-commerce company’s stock valued at $360,749,000 after buying an additional 1,130,089 shares during the last quarter. Northern Trust Corp grew its holdings in eBay by 3.1% during the third quarter. Northern Trust Corp now owns 6,979,291 shares of the e-commerce company’s stock worth $307,717,000 after buying an additional 209,695 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in eBay by 34.3% during the 4th quarter. Pacer Advisors Inc. now owns 5,839,329 shares of the e-commerce company’s stock worth $254,712,000 after acquiring an additional 1,491,485 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.

Wall Street Analysts Forecast Growth

EBAY has been the topic of a number of recent analyst reports. Barclays lifted their price target on eBay from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday. BMO Capital Markets raised their price target on shares of eBay from $49.00 to $53.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Mizuho upped their price objective on eBay from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their target price on eBay from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Piper Sandler upped their price target on eBay from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $51.35.

eBay Stock Performance

Shares of EBAY opened at $49.65 on Friday. The company has a current ratio of 1.99, a quick ratio of 2.44 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $50.81 and a 200-day moving average price of $44.82. The company has a market cap of $25.14 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 1.98 and a beta of 1.31. eBay Inc. has a 12-month low of $37.17 and a 12-month high of $52.93.

eBay (NASDAQ:EBAY) last released its quarterly earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.05. eBay had a net margin of 25.97% and a return on equity of 29.11%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter in the previous year, the company earned $0.87 EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts forecast that eBay Inc. will post 3.75 earnings per share for the current fiscal year.

eBay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.18%. The ex-dividend date is Thursday, May 30th. eBay’s dividend payout ratio (DPR) is currently 21.51%.

eBay declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 27th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the e-commerce company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at eBay

In other eBay news, SVP Edward O. Garcia sold 1,165 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total transaction of $50,129.95. Following the transaction, the senior vice president now directly owns 31,888 shares in the company, valued at $1,372,140.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.21% of the company’s stock.

About eBay

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.