Primecap Management Co. CA Lowers Stock Holdings in eBay Inc. (NASDAQ:EBAY)

Primecap Management Co. CA reduced its position in eBay Inc. (NASDAQ:EBAY) by 0.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,341,160 shares of the e-commerce company’s stock after selling 7,060 shares during the quarter. Primecap Management Co. CA owned 0.45% of eBay worth $102,121,000 at the end of the most recent quarter.

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

eBay Stock Up 3.0 %

Shares of EBAY traded up $1.60 during trading hours on Friday, hitting $54.41. The company had a trading volume of 7,773,908 shares, compared to its average volume of 5,228,400. eBay Inc. has a 52-week low of $37.17 and a 52-week high of $54.59. The firm has a fifty day moving average price of $51.47 and a 200-day moving average price of $46.08. The stock has a market capitalization of $27.53 billion, a price-to-earnings ratio of 10.84, a P/E/G ratio of 2.43 and a beta of 1.31. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.99 and a current ratio of 1.99.

eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.05. eBay had a net margin of 25.97% and a return on equity of 29.11%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period in the previous year, the company earned $0.87 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that eBay Inc. will post 3.72 EPS for the current fiscal year.

eBay announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 27th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the e-commerce company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

eBay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.08 annualized dividend and a yield of 1.98%. eBay’s dividend payout ratio is 21.51%.

Insiders Place Their Bets

In other news, SVP Marie Oh Huber sold 49,070 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 177,391 shares of the company’s stock, valued at $8,803,915.33. The sale 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 Analysts Forecast Growth

EBAY has been the subject of a number of analyst reports. TD Cowen increased their price objective on eBay from $42.00 to $45.00 and gave the company a “hold” rating in a research note on Thursday, May 2nd. Piper Sandler raised their price target on shares of eBay from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. Truist Financial upped their price objective on shares of eBay from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Monday, May 6th. UBS Group raised their target price on eBay from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Finally, Benchmark restated a “buy” rating and set a $58.00 price target on shares of eBay in a report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, eBay has a consensus rating of “Hold” and a consensus price target of $51.45.

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.