eBay Inc. $EBAY Stock Position Lifted by Kentucky Retirement Systems

Kentucky Retirement Systems lifted its position in eBay Inc. (NASDAQ:EBAY) by 232.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 96,196 shares of the e-commerce company’s stock after acquiring an additional 67,279 shares during the period. Kentucky Retirement Systems’ holdings in eBay were worth $8,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in EBAY. Cedar Mountain Advisors LLC raised its position in shares of eBay by 128.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 277 shares of the e-commerce company’s stock valued at $25,000 after acquiring an additional 156 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new position in eBay in the first quarter worth $26,000. Abound Financial LLC acquired a new position in eBay in the fourth quarter worth $26,000. High Point Wealth Management LLC bought a new stake in eBay during the fourth quarter valued at $26,000. Finally, Jessup Wealth Management Inc bought a new stake in eBay during the fourth quarter valued at $27,000. 87.48% of the stock is currently owned by institutional investors.

eBay Price Performance

Shares of EBAY opened at $115.30 on Thursday. eBay Inc. has a 12 month low of $77.12 and a 12 month high of $119.31. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a fifty day moving average price of $111.48 and a 200 day moving average price of $100.78. The company has a market cap of $51.19 billion, a P/E ratio of 26.15, a PEG ratio of 2.58 and a beta of 1.37.

eBay (NASDAQ:EBAY) last posted its earnings results on Wednesday, April 29th. The e-commerce company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.08. eBay had a return on equity of 46.11% and a net margin of 17.58%.The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the business posted $1.38 earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, research analysts forecast that eBay Inc. will post 4.89 earnings per share for the current year.

Key eBay News

Here are the key news stories impacting eBay this week:

• Positive Sentiment: Wall Street expects eBay to report year-over-year earnings growth in its upcoming results. The company’s prior quarter exceeded consensus estimates, with revenue rising 19.5% and adjusted earnings reaching $1.66 per share versus expectations of $1.58. eBay Reports Next Week: Wall Street Expects Earnings Growth
• Neutral Sentiment: eBay is projected to report quarterly results on Wednesday. However, Zacks said the company does not currently show the combination of factors that typically supports a likely earnings beat, tempering the benefit of projected earnings growth. eBay Projected to Post Quarterly Earnings
• Negative Sentiment: eBay and three former senior executives agreed to pay approximately $55.7 million, or nearly $56 million, to settle a lawsuit involving a 2019 stalking and harassment campaign against a Massachusetts couple who published an e-commerce newsletter. The settlement creates a meaningful legal expense and renews reputational concerns related to former management, although the payment is tied to conduct from several years ago. eBay and Former Executives Agree to $56 Million Settlement

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EBAY. Arete Research dropped their target price on shares of eBay from $113.00 to $111.00 and set a “neutral” rating on the stock in a report on Tuesday, May 26th. Stifel Nicolaus set a $98.00 price target on shares of eBay in a report on Thursday, April 30th. UBS Group boosted their price objective on shares of eBay from $96.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Robert W. Baird increased their price objective on shares of eBay from $117.00 to $125.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Finally, Citizens Jmp raised their target price on shares of eBay from $120.00 to $125.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 14th. Fourteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $110.52.

Insider Transactions at eBay

In related news, CEO Jamie Iannone sold 11,110 shares of eBay stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $113.33, for a total value of $1,259,096.30. Following the sale, the chief executive officer directly owned 275,431 shares in the company, valued at $31,214,595.23. This trade represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jordan Douglas Bradle Sweetnam sold 1,010 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $115.61, for a total transaction of $116,766.10. Following the transaction, the senior vice president directly owned 32,146 shares of the company’s stock, valued at $3,716,399.06. The trade was a 3.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 76,012 shares of company stock worth $8,747,852. Insiders own 0.67% of the company’s stock.

eBay Profile

eBay Inc is a global e-commerce company that operates an online marketplace connecting individual consumers and businesses for the sale and purchase of new, used and collectible goods. Founded in 1995 by Pierre Omidyar and headquartered in San Jose, California, eBay grew from its early auction-style site into a diversified platform offering both auction-format listings and fixed-price “Buy It Now” transactions. The company completed an initial public offering in the late 1990s and has since evolved its platform and services to support a broad range of product categories and buyer preferences.

The company’s core business centers on its marketplace platform, which provides listing, search and transaction capabilities for millions of items across consumer goods, electronics, fashion, collectibles and more.