PNC Financial Services Group Inc. Sells 17,062 Shares of eBay Inc. (NASDAQ:EBAY)

PNC Financial Services Group Inc. trimmed its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 8.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,259 shares of the e-commerce company’s stock after selling 17,062 shares during the quarter. PNC Financial Services Group Inc.’s holdings in eBay were worth $8,430,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in EBAY. MGO One Seven LLC boosted its stake in shares of eBay by 16.8% in the 3rd quarter. MGO One Seven LLC now owns 7,942 shares of the e-commerce company’s stock valued at $350,000 after purchasing an additional 1,142 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of eBay by 6.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 230,955 shares of the e-commerce company’s stock valued at $10,183,000 after acquiring an additional 13,270 shares during the period. Signaturefd LLC lifted its position in shares of eBay by 10.3% during the 3rd quarter. Signaturefd LLC now owns 7,769 shares of the e-commerce company’s stock valued at $343,000 after acquiring an additional 725 shares during the period. Syon Capital LLC acquired a new position in shares of eBay during the 3rd quarter valued at $257,000. Finally, NBC Securities Inc. acquired a new position in shares of eBay during the 3rd quarter valued at $55,000. 87.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Truist Financial boosted their target price on shares of eBay from $48.00 to $50.00 and gave the company a “hold” rating in a research report on Monday, May 6th. TD Cowen boosted their target price on shares of eBay from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Thursday, May 2nd. Barclays boosted their target price on shares of eBay from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. BMO Capital Markets upped their price objective on shares of eBay from $49.00 to $53.00 and gave the stock a “market perform” rating in a report on Wednesday, February 28th. Finally, UBS Group upped their price objective on shares of eBay from $46.00 to $47.00 and gave the stock a “neutral” rating in a 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 given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.45.

Insider Activity at eBay

In related news, SVP Marie Oh Huber sold 49,070 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $49.63, for a total value of $2,435,344.10. Following the sale, the senior vice president now directly owns 177,391 shares of the company’s stock, valued at $8,803,915.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

eBay Price Performance

EBAY opened at $52.81 on Friday. The firm has a market cap of $26.72 billion, a P/E ratio of 10.52, a PEG ratio of 2.43 and a beta of 1.31. The firm has a 50-day moving average of $51.43 and a 200 day moving average of $45.94. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.99 and a current ratio of 1.99. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $53.03.

eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share 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 firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter last year, the business earned $0.87 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. On average, research analysts expect that eBay Inc. will post 3.72 EPS for the current year.

eBay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.05%. eBay’s dividend payout ratio (DPR) is currently 21.51%.

eBay declared that its board has approved a stock repurchase program on Tuesday, February 27th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the e-commerce company to purchase up to 8.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

eBay 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.