Russell Investments Group Ltd. Has $132.78 Million Stock Position in eBay Inc. (NASDAQ:EBAY)

Key Points

• Russell Investments Group Ltd. has reduced its stake in eBay Inc. by 16.2%, owning approximately 1.96 million shares valued at $132.8 million following the sale of nearly 379,000 shares.
• The company recently reported earnings of $1.37 per share, surpassing expectations, with revenue increasing by 6.1% year-over-year to $2.73 billion.
• eBay is set to pay a quarterly dividend of $0.29 per share on September 12th, with a dividend yield of 1.2% based on current pricing.

Russell Investments Group Ltd. trimmed its holdings in eBay Inc. (NASDAQ:EBAY - Free Report) by 16.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,962,974 shares of the e-commerce company's stock after selling 378,828 shares during the period. Russell Investments Group Ltd. owned 0.43% of eBay worth $132,779,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rockefeller Capital Management L.P. lifted its stake in shares of eBay by 15.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 26,212 shares of the e-commerce company's stock valued at $1,623,000 after buying an additional 3,563 shares during the period. Sagespring Wealth Partners LLC purchased a new position in shares of eBay during the fourth quarter valued at approximately $313,000. Mariner LLC lifted its stake in shares of eBay by 5.8% during the fourth quarter. Mariner LLC now owns 114,109 shares of the e-commerce company's stock valued at $7,069,000 after buying an additional 6,283 shares during the period. CreativeOne Wealth LLC purchased a new position in shares of eBay during the fourth quarter valued at approximately $1,225,000. Finally, Promethos Capital LLC lifted its stake in shares of eBay by 3.6% during the fourth quarter. Promethos Capital LLC now owns 37,890 shares of the e-commerce company's stock valued at $2,347,000 after buying an additional 1,300 shares during the period. 87.48% of the stock is owned by hedge funds and other institutional investors.

eBay Price Performance

Shares of EBAY stock traded down $2.29 during midday trading on Thursday, reaching $98.48. 6,043,537 shares of the company were exchanged, compared to its average volume of 5,634,806. The company's 50 day moving average price is $81.15 and its two-hundred day moving average price is $72.52. The company has a market cap of $45.01 billion, a P/E ratio of 21.69, a PEG ratio of 2.35 and a beta of 1.27. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.00 and a current ratio of 1.00. eBay Inc. has a 12 month low of $54.80 and a 12 month high of $100.96.

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

eBay Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. eBay's dividend payout ratio (DPR) is 25.55%.

Analyst Ratings Changes

A number of equities analysts have weighed in on EBAY shares. JMP Securities reaffirmed a "market perform" rating on shares of eBay in a research note on Thursday, May 1st. Arete Research raised shares of eBay from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 7th. Arete raised shares of eBay from a "sell" rating to a "neutral" rating and set a $91.00 target price on the stock in a research note on Thursday, August 7th. Sanford C. Bernstein downgraded shares of eBay from an "outperform" rating to a "market perform" rating and cut their target price for the company from $70.00 to $65.00 in a research note on Tuesday, April 22nd. Finally, TD Securities raised their target price on shares of eBay from $62.00 to $64.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, eBay presently has an average rating of "Hold" and an average price target of $78.19.

Insider Activity

In related news, CEO Jamie Iannone sold 12,644 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $76.02, for a total transaction of $961,196.88. Following the transaction, the chief executive officer directly owned 317,625 shares of the company's stock, valued at approximately $24,145,852.50. The trade was a 3.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Cornelius Boone sold 2,985 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $78.67, for a total transaction of $234,829.95. Following the transaction, the senior vice president directly owned 92,053 shares in the company, valued at $7,241,809.51. The trade was a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,104 shares of company stock valued at $22,025,676. 0.64% of the stock is currently owned by insiders.

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.