Ontario Teachers Pension Plan Board Takes $723,000 Position in eBay Inc. (NASDAQ:EBAY)

Key Points

• The Ontario Teachers Pension Plan Board has acquired 10,680 shares of eBay Inc., valued at approximately $723,000, as part of its investment strategy in the first quarter.
• Analysts have raised the target prices for eBay stock, with BMO Capital Markets increasing it from $70 to $102, indicating a positive outlook on the company's future performance.
• eBay reported earnings of $1.37 per share for the last quarter, surpassing analyst expectations and showing a 6.1% increase in revenue compared to the same period last year.

Ontario Teachers Pension Plan Board bought a new stake in shares of eBay Inc. (NASDAQ:EBAY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 10,680 shares of the e-commerce company's stock, valued at approximately $723,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. ASR Vermogensbeheer N.V. bought a new stake in eBay during the 1st quarter valued at approximately $5,712,000. Citizens Financial Group Inc. RI boosted its stake in eBay by 41.7% during the 1st quarter. Citizens Financial Group Inc. RI now owns 166,953 shares of the e-commerce company's stock valued at $11,308,000 after purchasing an additional 49,096 shares during the period. Hemington Wealth Management boosted its stake in eBay by 19.6% during the 1st quarter. Hemington Wealth Management now owns 1,618 shares of the e-commerce company's stock valued at $109,000 after purchasing an additional 265 shares during the period. Nicholas Hoffman & Company LLC. lifted its position in shares of eBay by 12.8% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 8,867 shares of the e-commerce company's stock worth $601,000 after acquiring an additional 1,004 shares during the period. Finally, iA Global Asset Management Inc. lifted its position in shares of eBay by 333.4% in the 1st quarter. iA Global Asset Management Inc. now owns 32,137 shares of the e-commerce company's stock worth $2,177,000 after acquiring an additional 24,722 shares during the period. Institutional investors own 87.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EBAY. Evercore ISI raised their price objective on eBay from $63.00 to $69.00 and gave the stock an "in-line" rating in a research report on Thursday, May 1st. Truist Financial raised their price objective on eBay from $62.00 to $68.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Daiwa America upgraded eBay from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 12th. Citizens Jmp upgraded eBay to a "hold" rating in a research report on Thursday, July 10th. Finally, Sanford C. Bernstein downgraded eBay from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $70.00 to $65.00 in a research report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $78.19.

eBay Stock Up 2.3%

Shares of eBay stock traded up $2.22 during trading on Wednesday, reaching $99.28. The stock had a trading volume of 2,660,842 shares, compared to its average volume of 5,600,190. The company has a market capitalization of $45.37 billion, a price-to-earnings ratio of 21.82, a P/E/G ratio of 2.30 and a beta of 1.27. The stock has a fifty day moving average price of $80.26 and a two-hundred day moving average price of $72.11. eBay Inc. has a 52 week low of $54.80 and a 52 week high of $99.33. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.05.

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

eBay Announces Dividend

The firm also recently declared 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. This represents a $1.16 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. eBay's payout ratio is 25.55%.

Insiders Place Their Bets

In other news, CEO Jamie Iannone sold 12,644 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $76.02, for a total value of $961,196.88. Following the transaction, the chief executive officer owned 317,625 shares of the company's stock, valued at approximately $24,145,852.50. This represents a 3.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cornelius Boone sold 2,985 shares of the company'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 value of $234,829.95. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders sold 276,104 shares of company stock worth $22,025,676 in the last three months. 0.64% of the stock is owned by corporate 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.