IVY Lane Capital Management LLC Cuts Stock Position in eBay Inc. (NASDAQ:EBAY)

IVY Lane Capital Management LLC lowered its stake in eBay Inc. (NASDAQ:EBAY) by 57.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,000 shares of the e-commerce company’s stock after selling 76,000 shares during the period. eBay accounts for about 1.6% of IVY Lane Capital Management LLC’s holdings, making the stock its 12th largest holding. IVY Lane Capital Management LLC’s holdings in eBay were worth $2,486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in EBAY. Ameriprise Financial Inc. boosted its stake in shares of eBay by 39.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 12,418,131 shares of the e-commerce company’s stock worth $547,516,000 after buying an additional 3,534,030 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of eBay by 2.7% in the 3rd quarter. Nordea Investment Management AB now owns 11,167,875 shares of the e-commerce company’s stock worth $495,407,000 after buying an additional 289,071 shares during the last quarter. Invesco Ltd. boosted its stake in shares of eBay by 16.0% in the 3rd quarter. Invesco Ltd. now owns 8,182,095 shares of the e-commerce company’s stock worth $360,749,000 after buying an additional 1,130,089 shares during the last quarter. Northern Trust Corp boosted its stake in shares of eBay by 3.1% in the 3rd quarter. Northern Trust Corp now owns 6,979,291 shares of the e-commerce company’s stock worth $307,717,000 after buying an additional 209,695 shares during the last quarter. Finally, Pacer Advisors Inc. raised its holdings in eBay by 34.3% in the 4th quarter. Pacer Advisors Inc. now owns 5,839,329 shares of the e-commerce company’s stock worth $254,712,000 after purchasing an additional 1,491,485 shares during the period. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EBAY has been the topic of a number of recent research reports. Piper Sandler raised their target price on eBay from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. UBS Group raised their price objective on eBay from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Mizuho raised their price objective on eBay from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Barclays lifted their price target on eBay from $55.00 to $61.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Finally, StockNews.com upgraded eBay from a “hold” rating to a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $49.17.

Insider Buying and Selling at eBay

In other eBay news, SVP Edward O. Garcia sold 1,165 shares of the company’s 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 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 filing with the SEC, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

eBay Stock Up 1.3 %

Shares of EBAY stock traded up $0.68 during trading hours on Friday, reaching $52.02. 4,985,631 shares of the company’s stock were exchanged, compared to its average volume of 4,369,263. The stock’s 50 day moving average is $50.11 and its 200-day moving average is $44.55. The company has a market cap of $26.95 billion, a price-to-earnings ratio of 9.97, a P/E/G ratio of 2.07 and a beta of 1.33. 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 Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $52.93.

eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Tuesday, February 27th. The e-commerce company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. eBay had a net margin of 27.36% and a return on equity of 29.16%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 earnings per share. Analysts predict that eBay Inc. will post 3.75 earnings per share for the current fiscal year.

eBay Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, March 8th. This is a positive change from eBay’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.08%. eBay’s payout ratio is 20.69%.

eBay declared that its Board of Directors has authorized a share repurchase program on Tuesday, February 27th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the e-commerce company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

eBay Company 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.