IVY Lane Capital Management LLC Sells 76,000 Shares of eBay Inc. (NASDAQ:EBAY)

IVY Lane Capital Management LLC cut its holdings in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 57.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,000 shares of the e-commerce company's stock after selling 76,000 shares during the quarter. eBay accounts for 1.6% of IVY Lane Capital Management LLC's holdings, making the stock its 12th largest position. IVY Lane Capital Management LLC's holdings in eBay were worth $2,486,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in EBAY. Unique Wealth Strategies LLC bought a new position in eBay in the fourth quarter valued at approximately $627,000. Russell Investments Group Ltd. increased its stake in eBay by 50.7% in the fourth quarter. Russell Investments Group Ltd. now owns 1,594,272 shares of the e-commerce company's stock valued at $69,523,000 after acquiring an additional 536,145 shares during the last quarter. Motley Fool Asset Management LLC increased its stake in eBay by 2.5% in the fourth quarter. Motley Fool Asset Management LLC now owns 15,481 shares of the e-commerce company's stock valued at $675,000 after acquiring an additional 381 shares during the last quarter. GHE LLC increased its stake in eBay by 1.5% in the fourth quarter. GHE LLC now owns 17,480 shares of the e-commerce company's stock valued at $762,000 after acquiring an additional 260 shares during the last quarter. Finally, Atria Wealth Solutions Inc. increased its stake in eBay by 59.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 9,960 shares of the e-commerce company's stock valued at $434,000 after acquiring an additional 3,718 shares during the last quarter. 87.48% of the stock is owned by institutional investors.

Insider Buying and Selling at eBay

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

eBay Trading Up 1.3 %

NASDAQ EBAY traded up $0.68 during mid-day trading on Friday, reaching $52.02. 4,985,631 shares of the stock were exchanged, compared to its average volume of 4,369,263. eBay Inc. has a one year low of $37.17 and a one year high of $52.93. The stock has a 50 day simple moving average of $50.11 and a 200-day simple moving average of $44.56. The stock has a market cap of $26.95 billion, a P/E ratio of 9.97, a P/E/G ratio of 2.07 and a beta of 1.33. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.44 and a quick ratio of 2.44.

eBay (NASDAQ:EBAY - Get Free Report) last announced its earnings results on Tuesday, February 27th. The e-commerce company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.04. eBay had a net margin of 27.36% and a return on equity of 29.16%. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the firm earned $0.87 earnings per share. eBay's quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts anticipate that eBay Inc. will post 3.75 EPS for the current year.

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

eBay Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from eBay's previous quarterly dividend of $0.25. eBay's dividend payout ratio (DPR) is currently 20.69%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EBAY. Piper Sandler raised their target price on shares of eBay from $50.00 to $52.00 and gave the company an "overweight" rating in a research report on Wednesday, February 28th. Wells Fargo & Company raised their target price on shares of eBay from $45.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, April 4th. StockNews.com upgraded shares of eBay from a "hold" rating to a "buy" rating in a research report on Thursday. Susquehanna raised their target price on shares of eBay from $43.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th. Finally, BMO Capital Markets raised their target price on shares of eBay from $49.00 to $53.00 and gave the company a "market perform" rating in a research report on Wednesday, February 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, eBay currently has an average rating of "Hold" and an average target price of $49.17.

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.