Westpac Banking Corp Sells 159,290 Shares of eBay Inc. (NASDAQ:EBAY)

Westpac Banking Corp cut its position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 69.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,880 shares of the e-commerce company's stock after selling 159,290 shares during the period. Westpac Banking Corp's holdings in eBay were worth $3,048,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CVA Family Office LLC purchased a new position in shares of eBay during the 4th quarter worth approximately $25,000. First Command Advisory Services Inc. acquired a new position in eBay in the 3rd quarter valued at about $46,000. Cambridge Trust Co. increased its stake in eBay by 135.0% during the fourth quarter. Cambridge Trust Co. now owns 1,175 shares of the e-commerce company's stock worth $51,000 after purchasing an additional 675 shares during the period. NBC Securities Inc. acquired a new stake in shares of eBay during the third quarter worth about $55,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of eBay in the third quarter valued at approximately $71,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EBAY has been the topic of a number of research reports. UBS Group increased their target price on shares of eBay from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Wednesday, February 28th. Mizuho lifted their target price on eBay from $44.00 to $49.00 and gave the company a "neutral" rating in a report on Thursday, May 2nd. Piper Sandler upped their price target on eBay from $50.00 to $52.00 and gave the stock an "overweight" rating in a report on Wednesday, February 28th. Susquehanna increased their price target on eBay from $43.00 to $52.00 and gave the company a "neutral" rating in a research report on Thursday, February 29th. Finally, Truist Financial boosted their price objective on eBay from $48.00 to $50.00 and gave the stock a "hold" rating in a research report on Monday, May 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $51.45.

Insider Buying and Selling

In other news, SVP Marie Oh Huber sold 49,070 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $49.63, for a total transaction of $2,435,344.10. Following the completion of the transaction, the senior vice president now directly owns 177,391 shares of the company's stock, valued at approximately $8,803,915.33. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, SVP Edward O. Garcia sold 1,165 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $43.03, for a total transaction of $50,129.95. Following the sale, the senior vice president now owns 31,888 shares of the company's stock, valued at approximately $1,372,140.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marie Oh Huber sold 49,070 shares of eBay stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $49.63, for a total value of $2,435,344.10. Following the transaction, the senior vice president now directly owns 177,391 shares of the company's stock, valued at $8,803,915.33. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

eBay Stock Performance

NASDAQ:EBAY traded up $0.11 during mid-day trading on Tuesday, reaching $52.10. 3,472,565 shares of the stock were exchanged, compared to its average volume of 6,295,013. The company has a 50 day simple moving average of $51.25 and a 200-day simple moving average of $45.30. eBay Inc. has a 1 year low of $37.17 and a 1 year high of $52.93. The stock has a market capitalization of $26.36 billion, a P/E ratio of 10.38, a P/E/G ratio of 1.99 and a beta of 1.31. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.98.

eBay (NASDAQ:EBAY - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.05. eBay had a return on equity of 29.11% and a net margin of 25.97%. The firm had revenue of $2.56 billion for the quarter, compared to analysts' expectations of $2.53 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. Analysts anticipate that eBay Inc. will post 3.72 earnings per share for the current fiscal year.

eBay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 31st will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, May 30th. eBay's payout ratio is 21.51%.

eBay announced that its board has approved a stock repurchase program on Tuesday, February 27th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the e-commerce company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

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.