Envestnet Portfolio Solutions Inc. Cuts Stock Position in eBay Inc. (NASDAQ:EBAY)

Envestnet Portfolio Solutions Inc. lessened its stake in eBay Inc. (NASDAQ:EBAY - Free Report) by 17.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,630 shares of the e-commerce company's stock after selling 5,307 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in eBay were worth $1,668,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EBAY. Orion Capital Management LLC purchased a new position in eBay during the 4th quarter valued at about $27,000. Pinney & Scofield Inc. purchased a new position in shares of eBay during the 4th quarter worth approximately $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of eBay during the 4th quarter worth approximately $33,000. Transce3nd LLC purchased a new position in shares of eBay during the 4th quarter worth approximately $36,000. Finally, Ameriflex Group Inc. purchased a new position in shares of eBay during the 4th quarter worth approximately $38,000. Institutional investors own 87.48% of the company's stock.

Insider Transactions at eBay

In other news, SVP Julie A. Loeger sold 127,070 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.43, for a total value of $8,822,470.10. Following the completion of the sale, the senior vice president now directly owns 123,282 shares in the company, valued at $8,559,469.26. This represents a 50.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Stephen J. Priest sold 28,060 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $67.82, for a total value of $1,903,029.20. Following the completion of the sale, the chief financial officer now owns 65,080 shares of the company's stock, valued at $4,413,725.60. This trade represents a 30.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 292,321 shares of company stock worth $20,606,770 in the last three months. Corporate insiders own 0.64% of the company's stock.

eBay Stock Performance

Shares of NASDAQ EBAY traded down $2.51 during midday trading on Tuesday, hitting $74.35. 9,133,152 shares of the stock traded hands, compared to its average volume of 5,015,151. The firm has a 50-day moving average of $72.16 and a two-hundred day moving average of $67.94. The firm has a market capitalization of $34.28 billion, a P/E ratio of 17.70, a PEG ratio of 2.15 and a beta of 1.27. 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 one year low of $52.03 and a one year high of $79.84.

eBay (NASDAQ:EBAY - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.04. The firm had revenue of $2.59 billion for the quarter, compared to analysts' expectations of $2.55 billion. eBay had a return on equity of 36.60% and a net margin of 19.78%. The company's revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. On average, equities analysts forecast that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.29 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 1.56%. eBay's dividend payout ratio (DPR) is 27.62%.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group upped their target price on eBay from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Tuesday, April 29th. Benchmark upped their target price on eBay from $65.00 to $75.00 and gave the stock a "buy" rating in a report on Thursday, February 27th. Sanford C. Bernstein downgraded eBay from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $70.00 to $65.00 in a report on Tuesday, April 22nd. JPMorgan Chase & Co. upped their target price on eBay from $60.00 to $66.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Finally, Robert W. Baird boosted their price target on eBay from $68.00 to $75.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, eBay currently has an average rating of "Hold" and a consensus target price of $67.73.

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.