Exchange Traded Concepts LLC Cuts Stock Position in eBay Inc. (NASDAQ:EBAY)

Exchange Traded Concepts LLC lessened its holdings in eBay Inc. (NASDAQ:EBAY) by 9.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,543 shares of the e-commerce company’s stock after selling 471 shares during the period. Exchange Traded Concepts LLC’s holdings in eBay were worth $308,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Ameriprise Financial Inc. increased its stake in eBay by 12.4% during the 4th quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company’s stock worth $1,765,148,000 after buying an additional 3,149,934 shares during the period. Independent Franchise Partners LLP increased its stake in eBay by 25.6% during the 4th quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company’s stock worth $692,517,000 after buying an additional 2,277,839 shares during the period. Dimensional Fund Advisors LP increased its stake in eBay by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company’s stock worth $435,665,000 after buying an additional 245,624 shares during the period. Northern Trust Corp increased its stake in eBay by 17.8% during the 4th quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company’s stock worth $421,834,000 after buying an additional 1,030,292 shares during the period. Finally, Victory Capital Management Inc. increased its stake in eBay by 1.4% during the 4th quarter. Victory Capital Management Inc. now owns 5,936,508 shares of the e-commerce company’s stock worth $367,767,000 after buying an additional 82,904 shares during the period. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Stock Up 0.1%

EBAY stock opened at $77.62 on Friday. eBay Inc. has a 52 week low of $52.03 and a 52 week high of $79.84. The company has a market capitalization of $35.78 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 2.17 and a beta of 1.27. The firm’s 50-day moving average is $71.76 and its two-hundred day moving average is $67.77. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.16.

eBay (NASDAQ:EBAY) last released its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. eBay had a net margin of 19.78% and a return on equity of 36.60%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same period in the previous year, the firm earned $1.25 EPS. eBay’s revenue was up 1.1% on a year-over-year basis. On average, analysts forecast that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a dividend of $0.29 per share. The ex-dividend date was Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.49%. eBay’s dividend payout ratio (DPR) is 27.62%.

Insiders Place Their Bets

In related news, CEO Jamie Iannone sold 12,644 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $79.06, for a total value of $999,634.64. Following the sale, the chief executive officer now directly owns 325,053 shares in the company, valued at $25,698,690.18. The trade was a 3.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen J. Priest sold 28,060 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $67.82, for a total transaction of $1,903,029.20. Following the completion of the sale, the chief financial officer now owns 65,080 shares in the company, valued at $4,413,725.60. The trade was a 30.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 292,321 shares of company stock worth $20,606,770. 0.64% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EBAY shares. Daiwa Capital Markets raised shares of eBay from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research note on Monday, May 12th. Susquehanna raised their price objective on shares of eBay from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Barclays raised their price objective on shares of eBay from $72.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Bank of America decreased their price objective on shares of eBay from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Needham & Company LLC lifted their price target on shares of eBay from $72.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, seventeen 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 data from MarketBeat.com, eBay has an average rating of “Hold” and a consensus target price of $67.73.

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.