TCW Group Inc. Raises Stock Position in eBay Inc. (NASDAQ:EBAY)

Key Points

• TCW Group Inc. increased its position in eBay Inc. shares by 129.6%, owning 123,731 shares valued at approximately $8.38 million as of the latest SEC filing.
• eBay reported a 1.38 EPS for the last quarter, beating estimates, and had a revenue of $2.59 billion, a slight increase of 1.1% from the previous year.
• Analysts generally rate eBay as a "Hold", with a consensus target price of $69.42, while various investment firms have adjusted their price targets recently.

TCW Group Inc. increased its stake in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 129.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,731 shares of the e-commerce company's stock after purchasing an additional 69,831 shares during the period. TCW Group Inc.'s holdings in eBay were worth $8,380,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Ameriprise Financial Inc. increased 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 valued at $1,765,148,000 after buying an additional 3,149,934 shares during the last quarter. Independent Franchise Partners LLP increased 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 valued at $692,517,000 after buying an additional 2,277,839 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in eBay by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company's stock valued at $435,665,000 after buying an additional 245,624 shares during the last quarter. Northern Trust Corp increased its stake in shares of eBay by 17.8% in the fourth quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company's stock worth $421,834,000 after purchasing an additional 1,030,292 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of eBay by 7.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,834,195 shares of the e-commerce company's stock worth $361,428,000 after purchasing an additional 386,568 shares in the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

eBay Stock Performance

EBAY traded up $14.78 during trading on Thursday, reaching $92.34. 12,514,439 shares of the company's stock were exchanged, compared to its average volume of 5,513,307. eBay Inc. has a 1 year low of $53.74 and a 1 year high of $92.79. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.17. The stock has a market capitalization of $42.57 billion, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 2.19 and a beta of 1.26. The company's fifty day simple moving average is $76.63 and its 200-day simple moving average is $70.31.

eBay (NASDAQ:EBAY - Get Free Report) last posted its quarterly earnings results 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. eBay had a net margin of 19.78% and a return on equity of 36.60%. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the firm posted $1.18 EPS. eBay's revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, research analysts predict that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.26%. eBay's dividend payout ratio is currently 27.62%.

Insider Activity at eBay

In related news, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $77.38, for a total value of $1,825,935.86. Following the completion of the transaction, the senior vice president directly owned 44,413 shares in the company, valued at $3,436,677.94. The trade was a 34.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jamie Iannone sold 12,644 shares of the business'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 owned 325,053 shares of the company's stock, valued at approximately $25,698,690.18. This represents a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 347,222 shares of company stock worth $25,143,522 in the last three months. Company insiders own 0.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EBAY. Piper Sandler increased their price objective on shares of eBay from $74.00 to $95.00 and gave the stock an "overweight" rating in a research note on Thursday. UBS Group set a $87.00 price objective on shares of eBay in a research report on Thursday. Needham & Company LLC set a $95.00 target price on shares of eBay and gave the company a "buy" rating in a research note on Thursday. Daiwa America raised shares of eBay from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 12th. Finally, Bank of America raised their price target on shares of eBay from $71.00 to $82.00 and gave the stock a "neutral" rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $76.73.

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.