Edmp Inc. Decreases Stock Position in eBay Inc. (NASDAQ:EBAY)

Edmp Inc. reduced its position in eBay Inc. (NASDAQ:EBAY) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,123 shares of the e-commerce company’s stock after selling 571 shares during the period. Edmp Inc.’s holdings in eBay were worth $1,431,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EBAY. Ameriprise Financial Inc. raised its holdings in eBay by 12.4% in 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 acquiring an additional 3,149,934 shares during the last quarter. Independent Franchise Partners LLP raised 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 valued at $692,517,000 after buying an additional 2,277,839 shares during the last quarter. Marshall Wace LLP raised its stake in eBay by 304.2% during the 4th quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company’s stock valued at $130,421,000 after buying an additional 1,584,404 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in eBay during the 4th quarter valued at $96,214,000. Finally, Boston Partners raised its stake in eBay by 35.2% during the 4th quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company’s stock valued at $362,823,000 after buying an additional 1,524,691 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

eBay Stock Down 3.3%

EBAY opened at $74.35 on Wednesday. The firm has a 50-day simple moving average of $72.16 and a two-hundred day simple moving average of $67.94. 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 $34.28 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 2.15 and a beta of 1.27. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.16.

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

eBay Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, May 30th. eBay’s payout ratio is 27.62%.

Insider Activity at eBay

In related news, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $77.38, for a total value of $1,825,935.86. Following the completion of the transaction, the senior vice president now owns 44,413 shares of the company’s stock, valued at approximately $3,436,677.94. This trade represents a 34.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen J. Priest sold 28,060 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $67.82, for a total transaction of $1,903,029.20. Following the completion of the transaction, the chief financial officer now directly owns 65,080 shares of the company’s stock, valued at approximately $4,413,725.60. The trade was a 30.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 315,918 shares of company stock valued at $22,432,706. Insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EBAY. Barclays boosted their target price on shares of eBay from $72.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Wall Street Zen upgraded shares of eBay from a “hold” rating to a “buy” rating in a research note on Saturday, April 26th. TD Securities boosted their target price on shares of eBay from $62.00 to $64.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. BMO Capital Markets boosted their target price on shares of eBay from $59.00 to $63.00 and gave the company a “market perform” rating in a research note on Thursday, February 27th. Finally, Sanford C. Bernstein lowered shares of eBay from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $70.00 to $65.00 in a research note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.