Avanza Fonder AB Sells 8,833 Shares of eBay Inc. (NASDAQ:EBAY)

Avanza Fonder AB reduced its position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 16.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,845 shares of the e-commerce company's stock after selling 8,833 shares during the period. Avanza Fonder AB's holdings in eBay were worth $2,956,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in EBAY. Golden State Wealth Management LLC purchased a new position in shares of eBay during the 4th quarter valued at $27,000. Orion Capital Management LLC purchased a new position in shares of eBay during the 4th quarter valued at $27,000. Pinney & Scofield Inc. purchased a new position in shares of eBay during the 4th quarter valued at $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of eBay during the 4th quarter valued at $33,000. Finally, Transce3nd LLC purchased a new position in shares of eBay during the 4th quarter valued at $36,000. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EBAY has been the subject of a number of recent analyst reports. Susquehanna boosted their price target on shares of eBay from $65.00 to $70.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Wells Fargo & Company lifted their price objective on shares of eBay from $62.00 to $63.00 and gave the stock an "equal weight" rating in a report on Thursday, May 1st. Daiwa America raised shares of eBay from a "hold" rating to a "strong-buy" rating in a report on Monday, May 12th. Cfra Research raised shares of eBay to a "moderate buy" rating in a report on Thursday, June 5th. Finally, Piper Sandler lifted their price objective on shares of eBay from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, eBay has a consensus rating of "Hold" and an average target price of $67.73.

Insider Activity

In other news, CFO Stephen J. Priest sold 28,060 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $67.82, for a total transaction of $1,903,029.20. Following the sale, the chief financial officer now owns 65,080 shares in the company, valued at $4,413,725.60. This represents a 30.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jamie Iannone sold 12,644 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 325,053 shares in the company, valued at approximately $25,698,690.18. The trade was a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 296,279 shares of company stock worth $20,872,193 over the last 90 days. 0.64% of the stock is currently owned by insiders.

eBay Trading Down 0.6%

Shares of NASDAQ EBAY traded down $0.44 during midday trading on Thursday, hitting $77.44. 4,679,796 shares of the company traded hands, compared to its average volume of 4,995,153. eBay Inc. has a 12-month low of $51.72 and a 12-month high of $79.84. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a 50-day moving average price of $69.86 and a 200 day moving average price of $67.17. The firm has a market cap of $35.70 billion, a P/E ratio of 19.46, a P/E/G ratio of 2.22 and a beta of 1.27.

eBay (NASDAQ:EBAY - Get Free Report) last announced its quarterly earnings results 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 19.68% and a return on equity of 30.97%. The company had revenue of $2.59 billion for the quarter, compared to analysts' expectations of $2.55 billion. During the same quarter in the previous year, the company earned $1.25 earnings per share. eBay's quarterly revenue was up 1.1% on a year-over-year basis. As a group, analysts expect that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Friday, May 30th. eBay's payout ratio is 27.62%.

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.