Nuveen LLC Takes Position in eBay Inc. (NASDAQ:EBAY)

Key Points

• Nuveen LLC acquired 2,987,535 shares of eBay Inc. during the first quarter, valued at approximately $202.3 million, representing about 0.65% ownership in the company.
• eBay reported strong quarterly earnings with EPS of $1.37, surpassing estimates, alongside a 6.1% increase in revenue year-over-year.
• The company announced a quarterly dividend of $0.29 per share, with a dividend yield of 1.2% and a payout ratio of 25.55%.

Nuveen LLC bought a new position in eBay Inc. (NASDAQ:EBAY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,987,535 shares of the e-commerce company's stock, valued at approximately $202,346,000. Nuveen LLC owned approximately 0.65% of eBay as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. raised its stake in eBay by 8.0% in the first quarter. Invesco Ltd. now owns 8,441,396 shares of the e-commerce company's stock valued at $571,736,000 after buying an additional 627,823 shares during the last quarter. Pandora Wealth Inc. purchased a new position in shares of eBay in the 1st quarter valued at approximately $53,000. Frank Rimerman Advisors LLC boosted its stake in eBay by 3.9% in the 1st quarter. Frank Rimerman Advisors LLC now owns 6,387 shares of the e-commerce company's stock worth $433,000 after purchasing an additional 239 shares in the last quarter. Koss Olinger Consulting LLC purchased a new stake in eBay during the 1st quarter worth approximately $569,000. Finally, Measured Wealth Private Client Group LLC increased its stake in eBay by 7.9% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 6,296 shares of the e-commerce company's stock valued at $426,000 after purchasing an additional 462 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors.

eBay Trading Down 2.3%

EBAY traded down $2.29 on Thursday, reaching $98.48. 6,043,537 shares of the company's stock were exchanged, compared to its average volume of 5,634,806. eBay Inc. has a twelve month low of $54.80 and a twelve month high of $100.96. The company's 50 day moving average is $81.15 and its 200-day moving average is $72.52. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $45.01 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 2.35 and a beta of 1.27.

eBay (NASDAQ:EBAY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. eBay had a net margin of 20.86% and a return on equity of 38.97%. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the business earned $1.18 earnings per share. The business's quarterly revenue was up 6.1% compared to the same quarter last year. Equities analysts predict that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be paid a $0.29 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.2%. eBay's dividend payout ratio is 25.55%.

Insider Activity

In related news, CEO Jamie Iannone sold 12,644 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $76.02, for a total value of $961,196.88. Following the transaction, the chief executive officer owned 317,625 shares in the company, valued at approximately $24,145,852.50. The trade was a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $77.38, for a total value of $1,825,935.86. Following the completion of the transaction, the senior vice president directly owned 44,413 shares in the company, valued at approximately $3,436,677.94. The trade was a 34.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,104 shares of company stock valued at $22,025,676 over the last ninety days. 0.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of eBay from a "buy" rating to a "hold" rating in a research note on Sunday. Truist Financial increased their price objective on eBay from $62.00 to $68.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Arete raised eBay from a "sell" rating to a "neutral" rating and set a $91.00 target price for the company in a report on Thursday, August 7th. Daiwa Capital Markets upgraded shares of eBay from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a report on Monday, May 12th. Finally, Arete Research upgraded shares of eBay from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, eBay presently has an average rating of "Hold" and an average price target of $78.19.

eBay Company 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.