Sienna Gestion Decreases Stake in eBay Inc. (NASDAQ:EBAY)

Key Points

• Sienna Gestion sold 9,803 shares of eBay Inc., reducing its stake by 6.1% in the 1st quarter, leaving it with 150,164 shares valued at approximately $9.89 million.
• eBay reported a quarterly earnings per share (EPS) of $1.37, exceeding analyst estimates of $1.30, with a revenue of $2.73 billion, which is a 6.1% increase year-over-year.
• eBay declared a quarterly dividend of $0.29, to be paid on September 12th, with an annualized yield of 1.2% based on a 25.55% payout ratio.

Sienna Gestion lowered its position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 6.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,164 shares of the e-commerce company's stock after selling 9,803 shares during the period. Sienna Gestion's holdings in eBay were worth $9,886,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its stake in eBay by 12.4% in the fourth quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company's stock valued at $1,765,148,000 after purchasing an additional 3,149,934 shares during the last quarter. Invesco Ltd. grew its stake in eBay by 8.0% in the first quarter. Invesco Ltd. now owns 8,441,396 shares of the e-commerce company's stock valued at $571,736,000 after purchasing an additional 627,823 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in eBay by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company's stock valued at $435,665,000 after purchasing an additional 245,624 shares during the last quarter. Northern Trust Corp grew its stake in eBay by 17.8% in the fourth quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company's stock valued at $421,834,000 after purchasing an additional 1,030,292 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in eBay by 7.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,834,195 shares of the e-commerce company's stock valued at $361,428,000 after purchasing an additional 386,568 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company's stock.

Insider Transactions at eBay

In related news, SVP Cornelius Boone sold 2,985 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $78.67, for a total transaction of $234,829.95. Following the transaction, the senior vice president owned 92,053 shares in the company, valued at $7,241,809.51. This trade represents a 3.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jamie Iannone sold 12,644 shares of the 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 sale, the chief executive officer directly owned 317,625 shares of the company's stock, valued at $24,145,852.50. The trade was a 3.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 276,104 shares of company stock worth $22,025,676. 0.64% of the stock is owned by corporate insiders.

eBay Trading Up 2.3%

Shares of eBay stock traded up $2.22 during trading hours on Friday, hitting $100.70. The company's stock had a trading volume of 6,130,705 shares, compared to its average volume of 6,987,007. eBay Inc. has a twelve month low of $54.80 and a twelve month high of $101.15. The firm has a fifty day moving average of $81.59 and a 200-day moving average of $72.80. The stock has a market cap of $46.02 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 2.43 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 (NASDAQ:EBAY - Get Free Report) last announced its 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. eBay had a return on equity of 38.97% and a net margin of 20.86%. The company had revenue of $2.73 billion during the quarter, compared to analysts' expectations of $2.64 billion. During the same period last year, the business posted $1.18 EPS. eBay's revenue for the quarter was up 6.1% on a year-over-year basis. Research analysts forecast that eBay Inc. will post 3.86 EPS for the current year.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be paid 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 is Friday, August 29th. eBay's dividend payout ratio (DPR) is currently 25.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Arete Research raised eBay from a "strong sell" rating to a "hold" rating in a report on Thursday, August 7th. Evercore ISI raised their price target on eBay from $63.00 to $69.00 and gave the stock an "in-line" rating in a report on Thursday, May 1st. Robert W. Baird raised their price target on eBay from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday, July 10th. Daiwa America raised eBay from a "hold" rating to a "strong-buy" rating in a report on Monday, May 12th. Finally, Sanford C. Bernstein downgraded eBay from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $70.00 to $65.00 in a report on Tuesday, April 22nd. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $78.19.

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.