New York State Teachers Retirement System Sells 3,685 Shares of eBay Inc. (NASDAQ:EBAY)

New York State Teachers Retirement System cut its position in eBay Inc. (NASDAQ:EBAY - Free Report) by 0.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 386,099 shares of the e-commerce company's stock after selling 3,685 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of eBay worth $26,150,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in EBAY. Ameriprise Financial Inc. increased its stake in shares of 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 purchasing an additional 3,149,934 shares during the last quarter. Independent Franchise Partners LLP grew 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 worth $692,517,000 after purchasing an additional 2,277,839 shares during the period. Dimensional Fund Advisors LP grew 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 worth $435,665,000 after purchasing an additional 245,624 shares during the period. Northern Trust Corp increased its position in eBay by 17.8% during the fourth 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, Victory Capital Management Inc. raised its stake in eBay by 1.4% in the fourth quarter. Victory Capital Management Inc. now owns 5,936,508 shares of the e-commerce company's stock valued at $367,767,000 after buying an additional 82,904 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at eBay

In other news, CEO Jamie Iannone sold 10,974 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $75.75, for a total transaction of $831,280.50. Following the completion of the transaction, the chief executive officer owned 306,651 shares of the company's stock, valued at approximately $23,228,813.25. This trade represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Julie A. Loeger sold 92,895 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $72.06, for a total transaction of $6,694,013.70. Following the completion of the sale, the senior vice president directly owned 123,282 shares in the company, valued at approximately $8,883,700.92. This represents a 42.97% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 326,183 shares of company stock worth $23,490,942. 0.64% of the stock is currently owned by insiders.

eBay Price Performance

Shares of NASDAQ EBAY traded up $0.56 during trading hours on Thursday, hitting $76.34. 2,162,941 shares of the stock were exchanged, compared to its average volume of 5,038,193. The company's fifty day simple moving average is $73.18 and its two-hundred day simple moving average is $68.36. The company has a market cap of $35.19 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.12 and a beta of 1.26. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.17 and a current ratio of 1.17. eBay Inc. has a 1-year low of $52.14 and a 1-year high of $79.84.

eBay (NASDAQ:EBAY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share for the quarter, beating 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 firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter last year, the business posted $1.25 EPS. The company's revenue was up 1.1% compared to the same quarter last year. On average, sell-side analysts predict that eBay Inc. will post 3.86 EPS for the current year.

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, May 30th. eBay's dividend payout ratio (DPR) is 27.62%.

Analysts Set New Price Targets

Several brokerages have recently commented on EBAY. UBS Group lifted their target price on eBay from $72.00 to $73.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 29th. Piper Sandler raised their price target on eBay from $70.00 to $74.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Daiwa America upgraded shares of eBay from a "hold" rating to a "strong-buy" rating in a report on Monday, May 12th. Susquehanna increased their price objective 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. Finally, Needham & Company LLC lifted their target price on shares of eBay from $72.00 to $78.00 and gave the stock a "buy" rating in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $67.85.

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.