8,467 Shares in eBay Inc. (NASDAQ:EBAY) Bought by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel has acquired a new position in eBay, purchasing 8,467 shares valued at around $556,000 as of Q1 2023.
• Significant investment activity from various hedge funds includes Impax Asset Management increasing their holdings in eBay by 2,536.5%, now owning over 3.5 million shares worth approximately $239 million.
• eBay recently reported earnings per share of $1.38 for the last quarter, slightly surpassing analyst expectations, with quarterly revenue of $2.59 billion, marking a 1.1% increase compared to the previous year.

Carnegie Investment Counsel purchased a new position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,467 shares of the e-commerce company's stock, valued at approximately $556,000.

Other hedge funds have also recently modified their holdings of the company. Impax Asset Management Group plc grew its holdings in eBay by 2,536.5% during the first quarter. Impax Asset Management Group plc now owns 3,535,290 shares of the e-commerce company's stock worth $239,037,000 after acquiring an additional 3,401,198 shares during the period. Ameriprise Financial Inc. grew its holdings in eBay by 12.4% during the fourth quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company's stock worth $1,765,148,000 after acquiring an additional 3,149,934 shares during the period. Independent Franchise Partners LLP grew its holdings in eBay by 25.6% during the fourth quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company's stock worth $692,517,000 after acquiring an additional 2,277,839 shares during the period. Marshall Wace LLP raised its holdings in eBay by 304.2% during the fourth quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company's stock worth $130,421,000 after purchasing an additional 1,584,404 shares during the last quarter. Finally, Bridgewater Associates LP raised its holdings in eBay by 531.1% during the fourth quarter. Bridgewater Associates LP now owns 1,780,737 shares of the e-commerce company's stock worth $110,317,000 after purchasing an additional 1,498,566 shares during the last quarter. 87.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EBAY. Truist Financial lifted their price objective on eBay from $62.00 to $68.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Daiwa Capital Markets raised eBay from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a report on Monday, May 12th. Citizens Jmp raised eBay to a "hold" rating in a report on Thursday, July 10th. Piper Sandler increased their target price on eBay from $70.00 to $74.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, Barclays increased their target price on eBay from $72.00 to $77.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $69.42.

eBay Stock Down 1.2%

Shares of NASDAQ EBAY opened at $81.43 on Friday. eBay Inc. has a 52-week low of $53.64 and a 52-week high of $83.53. The firm has a fifty day moving average of $76.26 and a 200-day moving average of $70.11. The stock has a market capitalization of $37.54 billion, a PE ratio of 19.39, a P/E/G ratio of 2.27 and a beta of 1.26. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.16.

eBay (NASDAQ:EBAY - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. eBay had a net margin of 19.78% and a return on equity of 36.60%. The company had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.55 billion. During the same period in the previous year, the company earned $1.25 EPS. The business's quarterly revenue was up 1.1% compared to the same quarter last year. On average, analysts anticipate that eBay Inc. will post 3.86 EPS for the current year.

Insider Activity

In other news, SVP Julie A. Loeger sold 127,070 shares of the firm's stock in a transaction on Friday, May 9th. The shares were sold at an average price of $69.43, for a total value of $8,822,470.10. Following the transaction, the senior vice president owned 123,282 shares of the company's stock, valued at approximately $8,559,469.26. This trade represents a 50.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jamie Iannone sold 12,644 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $79.06, for a total transaction of $999,634.64. Following the completion of the transaction, the chief executive officer directly owned 325,053 shares in the company, valued at approximately $25,698,690.18. This represents a 3.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 347,222 shares of company stock valued at $25,143,522. Company insiders own 0.64% of the company's stock.

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.

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