LSV Asset Management Cuts Stock Holdings in eBay Inc. (NASDAQ:EBAY)

Key Points

• LSV Asset Management reduced its holdings in eBay Inc. by 3.9%, selling 267,913 shares and bringing its ownership to approximately 1.1% of eBay's stock.
• eBay reported a quarterly earnings per share (EPS) of $1.37, which exceeded analysts' expectations of $1.30, alongside a revenue increase of 6.1% year-over-year, totaling $2.73 billion.
• The company announced a quarterly dividend of $0.29, which will be paid on September 12th, representing an annualized yield of 1.3%.

LSV Asset Management lessened its position in eBay Inc. (NASDAQ:EBAY - Free Report) by 3.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,575,565 shares of the e-commerce company's stock after selling 267,913 shares during the quarter. eBay accounts for approximately 1.1% of LSV Asset Management's portfolio, making the stock its 16th largest holding. LSV Asset Management owned about 1.43% of eBay worth $445,363,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Impax Asset Management Group plc grew its stake in shares of eBay by 2,536.5% during the first quarter. Impax Asset Management Group plc now owns 3,535,290 shares of the e-commerce company's stock valued at $239,037,000 after buying an additional 3,401,198 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of eBay by 12.4% during the fourth 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 period. Independent Franchise Partners LLP boosted its holdings in shares of 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. Pacer Advisors Inc. boosted its holdings in shares of eBay by 5,181.4% during the first quarter. Pacer Advisors Inc. now owns 2,196,321 shares of the e-commerce company's stock worth $148,757,000 after purchasing an additional 2,154,735 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of eBay by 304.2% during the fourth quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company's stock worth $130,421,000 after purchasing an additional 1,584,404 shares during the period. Hedge funds and other institutional investors own 87.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EBAY. Barclays reissued an "overweight" rating and set a $92.00 price objective (up from $77.00) on shares of eBay in a research report on Thursday. Cfra Research upgraded shares of eBay to a "moderate buy" rating in a research report on Thursday, June 5th. Citigroup lowered their price objective on shares of eBay from $80.00 to $79.00 and set a "buy" rating for the company in a report on Friday, April 25th. Morgan Stanley upped their target price on eBay from $81.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Piper Sandler increased their target price on eBay from $74.00 to $95.00 and gave the stock an "overweight" rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, eBay currently has a consensus rating of "Hold" and a consensus target price of $77.69.

Insider Activity

In related news, SVP Julie A. Loeger sold 127,070 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $69.43, for a total value of $8,822,470.10. Following the transaction, the senior vice president owned 123,282 shares of the company's stock, valued at $8,559,469.26. This trade represents a 50.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $77.38, for a total transaction 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. This represents a 34.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 337,222 shares of company stock worth $24,463,922. 0.64% of the stock is currently owned by insiders.

eBay Price Performance

Shares of EBAY stock traded down $0.01 during mid-day trading on Friday, hitting $91.74. The company had a trading volume of 11,877,999 shares, compared to its average volume of 6,030,675. eBay Inc. has a 52-week low of $54.55 and a 52-week high of $92.79. The stock's 50 day moving average price is $77.42 and its 200-day moving average price is $70.76. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $42.29 billion, a P/E ratio of 20.21, a P/E/G ratio of 2.25 and a beta of 1.27.

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

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.3%. eBay's payout ratio is 25.55%.

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.