Louisiana State Employees Retirement System Invests $1.37 Million in eBay Inc. (NASDAQ:EBAY)

Louisiana State Employees Retirement System bought a new position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 31,400 shares of the e-commerce company's stock, valued at approximately $1,370,000.

A number of other hedge funds and other institutional investors have also modified their holdings of EBAY. CVA Family Office LLC purchased a new stake in shares of eBay during the fourth quarter worth about $25,000. First Command Advisory Services Inc. acquired a new position in eBay in the third quarter worth about $46,000. NBC Securities Inc. acquired a new position in eBay in the third quarter worth about $55,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in eBay in the third quarter worth about $71,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in eBay by 228.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,983 shares of the e-commerce company's stock worth $87,000 after purchasing an additional 1,380 shares in the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

eBay Price Performance

NASDAQ:EBAY traded up $0.55 during midday trading on Monday, hitting $50.94. 4,140,781 shares of the stock were exchanged, compared to its average volume of 6,453,431. The company has a market capitalization of $26.39 billion, a price-to-earnings ratio of 9.76, a P/E/G ratio of 2.03 and a beta of 1.32. eBay Inc. has a one year low of $37.17 and a one year high of $52.93. The business has a 50-day moving average price of $49.38 and a two-hundred day moving average price of $44.33. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.09.

eBay (NASDAQ:EBAY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 27th. The e-commerce company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.04. The company had revenue of $2.60 billion for the quarter, compared to analysts' expectations of $2.51 billion. eBay had a return on equity of 29.16% and a net margin of 27.36%. The firm's revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share. Sell-side analysts predict that eBay Inc. will post 3.69 EPS for the current year.

eBay declared that its board has approved a stock repurchase plan on Tuesday, February 27th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the e-commerce company to purchase up to 8.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

eBay Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.12%. This is a boost from eBay's previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 8th. eBay's payout ratio is presently 20.69%.

Insiders Place Their Bets

In other eBay news, SVP Edward O. Garcia sold 1,165 shares of eBay stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total transaction of $50,129.95. Following the transaction, the senior vice president now directly owns 31,888 shares in the company, valued at approximately $1,372,140.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Truist Financial lifted their price target on eBay from $47.00 to $48.00 and gave the stock a "hold" rating in a research note on Thursday, February 29th. Mizuho lifted their target price on eBay from $40.00 to $44.00 and gave the company a "neutral" rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft lifted their target price on eBay from $55.00 to $58.00 and gave the company a "buy" rating in a research note on Wednesday, April 10th. Susquehanna lifted their target price on eBay from $43.00 to $52.00 and gave the company a "neutral" rating in a research note on Thursday, February 29th. Finally, StockNews.com upgraded eBay from a "hold" rating to a "buy" rating in a research note on Sunday, April 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $49.21.

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.