Bank of Nova Scotia Sells 10,389 Shares of eBay Inc. (NASDAQ:EBAY)

Key Points

• The Bank of Nova Scotia reduced its holdings in eBay Inc. by 16.0% during the first quarter, now owning 54,367 shares valued at approximately $3.68 million.
• Several institutional investors, including Banco Santander S.A. and PNC Financial Services Group Inc., have increased their stakes in eBay, reflecting a robust interest from hedge funds who own 87.48% of the company's stock.
• eBay recently reported a quarterly earnings per share of $1.37, exceeding expectations, along with a declared quarterly dividend of $0.29 set to be paid on September 12th.

Bank of Nova Scotia trimmed its position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 16.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 54,367 shares of the e-commerce company's stock after selling 10,389 shares during the period. Bank of Nova Scotia's holdings in eBay were worth $3,682,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of EBAY. Orion Capital Management LLC acquired a new stake in eBay during the fourth quarter worth about $27,000. Abound Financial LLC acquired a new stake in eBay during the first quarter worth about $29,000. Pinney & Scofield Inc. acquired a new stake in eBay during the fourth quarter worth about $31,000. Itau Unibanco Holding S.A. acquired a new stake in shares of eBay in the 4th quarter valued at approximately $33,000. Finally, Transce3nd LLC acquired a new stake in shares of eBay in the 4th quarter valued at approximately $36,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

eBay Stock Up 0.1%

EBAY traded up $0.12 during mid-day trading on Friday, reaching $93.14. 5,326,361 shares of the stock were exchanged, compared to its average volume of 6,380,925. 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 stock has a market capitalization of $42.56 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 2.25 and a beta of 1.27. The company has a 50 day moving average price of $79.43 and a two-hundred day moving average price of $71.62. eBay Inc. has a 1 year low of $54.80 and a 1 year high of $93.50.

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

eBay Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wedbush restated a "neutral" rating and issued a $72.00 price target on shares of eBay in a research note on Wednesday, June 11th. UBS Group set a $87.00 price target on shares of eBay in a report on Thursday, July 31st. Evercore ISI raised their price target on shares of eBay from $63.00 to $69.00 and gave the stock an "in-line" rating in a report on Thursday, May 1st. Bank of America lifted their price objective on shares of eBay from $71.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of eBay from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $78.19.

Insider Activity at eBay

In related news, SVP Cornelius Boone sold 2,985 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $78.67, for a total value of $234,829.95. Following the transaction, the senior vice president directly owned 92,053 shares of the company's stock, valued at approximately $7,241,809.51. The trade was a 3.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $961,196.88. Following the completion of the transaction, the chief executive officer directly owned 317,625 shares in the company, valued at $24,145,852.50. This trade represents a 3.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 276,104 shares of company stock valued at $22,025,676 over the last quarter. Corporate 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.