Swiss National Bank Sells 30,500 Shares of eBay Inc. (NASDAQ:EBAY)

Key Points

• The Swiss National Bank has reduced its stake in eBay Inc. by 2.2%, selling 30,500 shares, and now owns roughly 1,350,900 shares valued at $91.5 million.
• Significant increases in eBay holdings were reported by multiple hedge funds, with Impax Asset Management growing its position by 2,536.5% during the same period.
• eBay declared a quarterly dividend of $0.29 per share, set to be paid on September 12th, reflecting strong financial performance with reported earnings of $1.37 per share for the last quarter.

Swiss National Bank lowered its stake in eBay Inc. (NASDAQ:EBAY - Free Report) by 2.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,350,900 shares of the e-commerce company's stock after selling 30,500 shares during the period. Swiss National Bank owned approximately 0.29% of eBay worth $91,496,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Impax Asset Management Group plc grew its position in eBay by 2,536.5% in 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 acquiring an additional 3,401,198 shares during the last quarter. Ameriprise Financial Inc. grew its position 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 acquiring an additional 3,149,934 shares during the last quarter. Independent Franchise Partners LLP grew its position in eBay by 25.6% in the fourth quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company's stock valued at $692,517,000 after acquiring an additional 2,277,839 shares during the last quarter. Pacer Advisors Inc. grew its position in eBay by 5,181.4% in the first quarter. Pacer Advisors Inc. now owns 2,196,321 shares of the e-commerce company's stock valued at $148,757,000 after acquiring an additional 2,154,735 shares during the last quarter. Finally, Marshall Wace LLP boosted its stake 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 valued at $130,421,000 after purchasing an additional 1,584,404 shares in the last quarter. Institutional investors own 87.48% of the company's stock.

Insider Buying and Selling

In related news, SVP Julie A. Loeger sold 75,952 shares of the company's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $93.25, for a total transaction of $7,082,524.00. Following the completion of the sale, the senior vice president owned 53,107 shares in the company, valued at approximately $4,952,227.75. This represents a 58.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jamie Iannone sold 10,974 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $75.75, for a total value of $831,280.50. Following the sale, the chief executive officer owned 306,651 shares of the company's stock, valued at $23,228,813.25. This trade represents a 3.46% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 276,104 shares of company stock worth $22,025,676. 0.64% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on EBAY. Robert W. Baird lifted their price target on eBay from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. Bank of America lifted their price target on eBay from $71.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Barclays reissued an "overweight" rating and set a $92.00 price target (up from $77.00) on shares of eBay in a research note on Thursday, July 31st. Citizens Jmp raised eBay to a "hold" rating in a research note on Thursday, July 10th. Finally, Cantor Fitzgerald lifted their price target on eBay from $69.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Two 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 given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $78.19.

eBay Trading Up 0.1%

NASDAQ EBAY opened at $93.14 on Friday. The company has a market cap of $42.56 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 2.25 and a beta of 1.27. eBay Inc. has a 52 week low of $54.80 and a 52 week high of $93.50. The business has a 50 day moving average price of $79.43 and a 200-day moving average price of $71.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.05.

eBay (NASDAQ:EBAY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The e-commerce company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. The firm had revenue of $2.73 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.18 earnings per share. As a group, equities analysts expect that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, August 29th. This represents a $1.16 annualized dividend and a yield of 1.2%. eBay's dividend payout ratio is 25.55%.

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.

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