Sumitomo Mitsui Trust Group Inc. Sells 122,583 Shares of eBay Inc. $EBAY

Sumitomo Mitsui Trust Group Inc. cut its stake in eBay Inc. (NASDAQ:EBAY) by 13.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 811,882 shares of the e-commerce company’s stock after selling 122,583 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in eBay were worth $86,100,000 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. BlackRock Inc. purchased a new stake in shares of eBay during the 2nd quarter worth approximately $4,406,897,000. Dimensional Fund Advisors LP grew its holdings in shares of eBay by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,901,415 shares of the e-commerce company’s stock worth $446,042,000 after acquiring an additional 80,450 shares during the period. Legal & General Group Plc acquired a new stake in shares of eBay in the 2nd quarter worth approximately $506,653,000. Amundi increased its stake in eBay by 26.4% in the 2nd quarter. Amundi now owns 4,014,323 shares of the e-commerce company’s stock valued at $448,601,000 after purchasing an additional 838,057 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in eBay by 0.8% in the 1st quarter. Bank of America Corp DE now owns 3,722,253 shares of the e-commerce company’s stock valued at $338,799,000 after purchasing an additional 30,761 shares in the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at eBay

In related news, SVP Jordan Sweetnam sold 1,014 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $101.39, for a total transaction of $102,809.46. Following the sale, the senior vice president owned 35,546 shares of the company’s stock, valued at $3,604,008.94. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jamie Iannone sold 11,110 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $107.08, for a total value of $1,189,658.80. Following the sale, the chief executive officer directly owned 226,269 shares in the company, valued at approximately $24,228,884.52. The trade was a 4.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 34,344 shares of company stock worth $3,635,567 over the last 90 days. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating on shares of eBay in a report on Thursday. UBS Group raised eBay from a “neutral” rating to a “buy” rating in a report on Thursday. Mizuho set a $120.00 price target on eBay in a research note on Thursday. Weiss Ratings lowered shares of eBay from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, October 28th. Finally, Piper Sandler reissued an “overweight” rating and issued a $140.00 price objective on shares of eBay in a research note on Thursday. Sixteen equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $123.36.

eBay Trading Down 0.6%

Shares of eBay stock opened at $120.93 on Tuesday. eBay Inc. has a 1 year low of $78.03 and a 1 year high of $124.59. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.02 and a quick ratio of 1.02. The business has a 50 day moving average price of $111.16 and a 200 day moving average price of $103.99. The company has a market capitalization of $53.81 billion, a P/E ratio of 24.23, a P/E/G ratio of 2.95 and a beta of 1.33.

eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, October 28th. The e-commerce company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.12 billion. eBay had a return on equity of 48.79% and a net margin of 16.84%. eBay’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.36 EPS. Sell-side analysts anticipate that eBay Inc. will post 4.45 EPS for the current fiscal year.

eBay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, December 4th. eBay’s dividend payout ratio is currently 27.07%.

eBay Profile

eBay Inc operates a global online marketplace that connects buyers and sellers. Through its platform, individuals, small businesses and larger retailers can list and purchase new, used and refurbished merchandise across categories such as electronics, apparel, collectibles, automotive parts and accessories, home goods and industrial products. Transactions may take place through auctions or fixed-price listings, with payments, shipping and other seller and buyer services supporting the marketplace experience.

Founded in 1995 as AuctionWeb by Pierre Omidyar, eBay has grown from an online auction site into a broad e-commerce platform.