eBay Inc. $EBAY Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 2.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 741,433 shares of the e-commerce company’s stock after selling 20,128 shares during the period. California State Teachers Retirement System’s holdings in eBay were worth $67,485,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in EBAY. Quantinno Capital Management LP grew its position in eBay by 129.1% in the first quarter. Quantinno Capital Management LP now owns 894,945 shares of the e-commerce company’s stock worth $81,458,000 after buying an additional 504,317 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of eBay by 2.3% during the 1st quarter. Lazard Asset Management LLC now owns 166,053 shares of the e-commerce company’s stock valued at $15,114,000 after acquiring an additional 3,805 shares during the last quarter. Family Manage LLC lifted its position in shares of eBay by 18.2% during the 1st quarter. Family Manage LLC now owns 4,418 shares of the e-commerce company’s stock valued at $402,000 after acquiring an additional 681 shares during the last quarter. Gateway Wealth Partners LLC bought a new stake in shares of eBay during the 1st quarter worth $447,000. Finally, OMERS ADMINISTRATION Corp boosted its stake in shares of eBay by 38.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 25,459 shares of the e-commerce company’s stock worth $2,317,000 after acquiring an additional 7,040 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors.

eBay News Roundup

Here are the key news stories impacting eBay this week:

• Positive Sentiment: Depop acquisition completed: eBay finalized its purchase of the fashion-resale marketplace from Etsy for approximately $1.4 billion in cash. Depop expands eBay’s presence among younger shoppers and in secondhand fashion, potentially supporting long-term marketplace growth. Etsy Completes Sale of Depop
• Neutral Sentiment: Upcoming earnings in focus: Analysts expect eBay to report year-over-year earnings growth, following the company’s recent quarterly results that exceeded consensus expectations for both earnings and revenue. However, Zacks said eBay lacks the combination of indicators typically associated with a likely earnings beat, creating uncertainty ahead of the report. eBay Reports Next Week
• Negative Sentiment: Nearly $56 million harassment settlement: eBay and several former executives agreed to settle a cyberstalking and harassment lawsuit brought by Massachusetts journalists David and Ina Steiner. The campaign involved disturbing anonymous deliveries and threats, including live insects and a bloody pig mask. Reports cite total settlement payments of about $55.7 million, including approximately $48.7 million in direct compensation. The cash cost, reputational damage and renewed scrutiny of past management conduct are weighing on sentiment. eBay Settlement With Massachusetts Couple

eBay Trading Down 1.5%

NASDAQ EBAY opened at $113.52 on Friday. eBay Inc. has a twelve month low of $78.03 and a twelve month high of $119.31. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market cap of $50.40 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.53 and a beta of 1.37. The firm’s 50 day moving average price is $111.41 and its two-hundred day moving average price is $100.94.

eBay (NASDAQ:EBAY) last released 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. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.04 billion. eBay had a return on equity of 46.11% and a net margin of 17.58%.The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.38 earnings per share. Equities analysts anticipate that eBay Inc. will post 4.89 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. TD Cowen lifted their target price on eBay from $87.00 to $88.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of eBay in a report on Friday, June 12th. Needham & Company LLC reiterated a “buy” rating and issued a $122.00 price target on shares of eBay in a research report on Thursday, April 30th. Sanford C. Bernstein lifted their price target on eBay from $95.00 to $100.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 20th. Finally, President Capital boosted their price objective on eBay from $102.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Fourteen investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $110.52.

Insider Activity

In related news, CEO Jamie Iannone sold 11,110 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $113.33, for a total value of $1,259,096.30. Following the completion of the sale, the chief executive officer directly owned 275,431 shares of the company’s stock, valued at approximately $31,214,595.23. This represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mazen Rawashdeh sold 50,000 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $117.04, for a total value of $5,852,000.00. Following the sale, the senior vice president owned 29,217 shares of the company’s stock, valued at $3,419,557.68. The trade was a 63.12% 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 have sold 76,012 shares of company stock worth $8,747,852. 0.67% of the stock is owned by corporate insiders.

eBay Company 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.