CenterBook Partners LP Acquires 36,455 Shares of eBay Inc. $EBAY

Key Points

• CenterBook Partners increased its eBay stake by 36,455 shares (382.1%) in the third quarter, bringing its holdings to 45,995 shares valued at about $4.88 million.
• Analyst views were mixed: eBay had a consensus “Hold” rating and a $123.52 target price, while individual firms adjusted targets in both directions.
• eBay’s latest reported quarter beat estimates, with EPS of $1.51 versus $1.41 expected and revenue of $3.21 billion, up 13.7% year over year.

CenterBook Partners LP raised its holdings in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 382.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,995 shares of the e-commerce company's stock after acquiring an additional 36,455 shares during the quarter. CenterBook Partners LP's holdings in eBay were worth $4,878,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Rakuten Investment Management Inc. bought a new stake in eBay in the 2nd quarter worth approximately $7,929,000. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of eBay during the 2nd quarter worth approximately $23,393,000. Marvin & Palmer Associates Inc. bought a new position in shares of eBay during the 2nd quarter valued at approximately $3,989,000. Empowered Funds LLC bought a new position in shares of eBay during the 2nd quarter valued at approximately $16,967,000. Finally, Glenview Trust Co bought a new position in shares of eBay during the 2nd quarter valued at approximately $1,544,000. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EBAY has been the topic of several research reports. Erste Group Bank initiated coverage on shares of eBay in a research report on Wednesday, October 21st. They issued a "buy" rating on the stock. Susquehanna lifted their price objective on shares of eBay from $110.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, October 30th. Wells Fargo & Company upgraded shares of eBay from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $91.00 to $106.00 in a report on Thursday, October 29th. Cantor Fitzgerald decreased their target price on shares of eBay from $110.00 to $106.00 and set a "neutral" rating on the stock in a research report on Thursday, August 6th. Finally, Morgan Stanley increased their price target on shares of eBay from $132.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, October 29th. Seventeen analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, eBay has a consensus rating of "Hold" and a consensus target price of $123.52.

Key eBay News

Here are the key news stories impacting eBay this week:

• Positive Sentiment: Argus raised its price target to $138 from $133 and reiterated a Buy rating. The higher target signals increased analyst optimism about eBay’s prospects. eBay Stock Price Target Raised at Argus
• Positive Sentiment: Depop is lowering shipping rates and adding delivery features. The changes could make the platform more attractive and convenient for buyers and sellers, supporting engagement across eBay’s marketplace portfolio. eBay trims Depop shipping rates, bolsters delivery features
• Positive Sentiment: Nissan is opening an eBay Canada storefront for factory parts, with local dealers handling orders. The partnership adds branded inventory and expands eBay’s usefulness as a parts marketplace. Nissan becomes first automaker to sell factory parts on eBay Canada
• Neutral Sentiment: eBay is making livestream shopping a strategic growth bet. The format could create another way to engage shoppers, but its eventual contribution to revenue and profitability remains uncertain. Why eBay Is Turning Livestream Shopping Into Its Next Big Bet

Insider Activity

In related news, CEO Jamie Iannone sold 11,110 shares of the company's stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $107.08, for a total transaction of $1,189,658.80. Following the transaction, the chief executive officer directly owned 226,269 shares in the company, valued at approximately $24,228,884.52. This represents a 4.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jordan Sweetnam sold 1,014 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $101.39, for a total transaction of $102,809.46. Following the completion of the sale, the senior vice president directly owned 35,546 shares in the company, valued at $3,604,008.94. This trade represents a 2.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 23,234 shares of company stock valued at $2,429,577 in the last 90 days. Company insiders own 0.67% of the company's stock.

eBay Stock Performance

NASDAQ EBAY opened at $121.96 on Friday. The business's 50 day moving average price is $112.55 and its 200-day moving average price is $104.57. eBay Inc. has a fifty-two week low of $78.03 and a fifty-two week high of $127.74. The company has a market cap of $53.54 billion, a P/E ratio of 26.63, a P/E/G ratio of 2.91 and a beta of 1.30. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.78 and a current ratio of 0.78.

eBay (NASDAQ:EBAY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The e-commerce company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.10. The company had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $3.12 billion. eBay had a return on equity of 49.20% and a net margin of 16.84%. eBay's revenue was up 13.7% on a year-over-year basis. During the same period last year, the company earned $1.36 earnings per share. Sell-side analysts predict that eBay Inc. will post 4.75 earnings per share for the current year.

eBay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, December 4th. eBay's dividend payout ratio (DPR) is 27.07%.

About eBay

eBay Inc operates a global online marketplace that connects buyers and sellers. Its platform supports both auction-style listings and fixed-price sales across a broad range of categories, including electronics, fashion, collectibles, home goods and auto parts.

Founded by Pierre Omidyar in 1995 as AuctionWeb, the company adopted the eBay name in 1997. It also provides services and tools for sellers, including advertising, payments and shipping features that support transactions on its marketplace.

eBay serves customers and businesses in markets around the world.

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