Arizona State Retirement System Sells 3,521 Shares of eBay Inc. (NASDAQ:EBAY)

Arizona State Retirement System lowered its holdings in eBay Inc. (NASDAQ:EBAY - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 138,500 shares of the e-commerce company's stock after selling 3,521 shares during the quarter. Arizona State Retirement System's holdings in eBay were worth $9,381,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of EBAY. Ameriprise Financial Inc. boosted its holdings in eBay by 12.4% during the 4th 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 last quarter. Independent Franchise Partners LLP boosted its holdings in shares of eBay by 25.6% in the 4th quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company's stock worth $692,517,000 after buying an additional 2,277,839 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of eBay by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company's stock worth $435,665,000 after buying an additional 245,624 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of eBay by 17.8% in the 4th quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company's stock worth $421,834,000 after buying an additional 1,030,292 shares during the last quarter. Finally, Boston Partners boosted its holdings in shares of eBay by 35.2% in the 4th quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company's stock worth $362,823,000 after buying an additional 1,524,691 shares during the last quarter. Institutional investors and hedge funds own 87.48% of the company's stock.

Insider Buying and Selling

In other news, SVP Cornelius Boone sold 2,985 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $78.67, for a total transaction of $234,829.95. Following the completion of the transaction, the senior vice president directly owned 92,053 shares in the company, valued at $7,241,809.51. This trade represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 $8,559,469.26. The trade was a 50.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 325,016 shares of company stock valued at $23,413,675 over the last ninety days. Insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on EBAY shares. Truist Financial boosted their price objective on eBay from $62.00 to $68.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. TD Securities boosted their price objective on eBay from $62.00 to $64.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Barclays boosted their price objective on eBay from $72.00 to $77.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Stifel Nicolaus upped their price target on eBay from $61.00 to $62.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Finally, Wedbush reiterated a "neutral" rating and set a $72.00 price target on shares of eBay in a research report on Wednesday, June 11th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $68.12.

eBay Trading Down 0.2%

Shares of NASDAQ:EBAY traded down $0.13 during trading on Thursday, reaching $76.79. 799,207 shares of the company traded hands, compared to its average volume of 5,034,492. The business's fifty day moving average is $74.83 and its 200-day moving average is $69.24. eBay Inc. has a 52-week low of $53.10 and a 52-week high of $79.84. The firm has a market capitalization of $35.40 billion, a price-to-earnings ratio of 18.29, a P/E/G ratio of 2.16 and a beta of 1.26. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.16.

eBay (NASDAQ:EBAY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.04. eBay had a return on equity of 36.60% and a net margin of 19.78%. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter last year, the firm posted $1.25 earnings per share. The firm's revenue was up 1.1% on a year-over-year basis. As a group, analysts forecast that eBay Inc. will post 3.86 EPS for the current year.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 1.51%. eBay's payout ratio is presently 27.62%.

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.