Ritholtz Wealth Management Sells 14,530 Shares of eBay Inc. $EBAY

Ritholtz Wealth Management decreased its position in shares of eBay Inc. (NASDAQ:EBAY) by 16.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 75,876 shares of the e-commerce company’s stock after selling 14,530 shares during the quarter. Ritholtz Wealth Management’s holdings in eBay were worth $8,047,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EBAY. Columbus Macro LLC boosted its stake in eBay by 2.5% during the 3rd quarter. Columbus Macro LLC now owns 3,838 shares of the e-commerce company’s stock valued at $407,000 after purchasing an additional 93 shares in the last quarter. Conning Inc. increased its position in shares of eBay by 5.3% during the 3rd quarter. Conning Inc. now owns 2,083 shares of the e-commerce company’s stock valued at $221,000 after purchasing an additional 104 shares during the period. MGO One Seven LLC raised its stake in shares of eBay by 1.3% in the 3rd quarter. MGO One Seven LLC now owns 8,532 shares of the e-commerce company’s stock worth $905,000 after buying an additional 109 shares in the last quarter. Spire Wealth Management raised its stake in shares of eBay by 29.7% in the 2nd quarter. Spire Wealth Management now owns 489 shares of the e-commerce company’s stock worth $55,000 after buying an additional 112 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of eBay by 4.6% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 2,818 shares of the e-commerce company’s stock worth $312,000 after buying an additional 125 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors and hedge funds.

eBay News Roundup

These are some of the EBAY news items that stood out recently:

• Positive Sentiment: Lower-cost shipping is prompting questions about eBay’s investment case; cheaper delivery could improve the appeal of buying and selling on its marketplace, though the article title alone does not quantify the impact. Is Lower Cost Shipping Altering The Investment Case For eBay (EBAY)?
• Positive Sentiment: Archival fashion listings and prices are climbing, a sign of interest in resale categories that could benefit eBay’s marketplace. eBay sees archival fashion listings, prices climb
• Neutral Sentiment: CEO Jamie Iannone sold shares under a pre-arranged Rule 10b5-1 plan; the scheduled nature of the sale makes it a limited signal about management’s outlook. eBay CEO stock sale

eBay Trading Down 0.7%

Shares of NASDAQ:EBAY opened at $122.68 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $53.86 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 2.93 and a beta of 1.30. eBay Inc. has a 1-year low of $78.03 and a 1-year high of $127.74. The company has a 50 day moving average price of $113.61 and a 200 day moving average price of $105.00.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, October 28th. The e-commerce company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The company had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.12 billion. eBay had a return on equity of 49.20% and a net margin of 16.84%. The firm’s revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, research analysts anticipate that eBay Inc. will post 4.79 EPS for the current fiscal year.

eBay Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EBAY. Wedbush upped their price objective on eBay from $137.00 to $153.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. Benchmark lifted their target price on eBay from $115.00 to $134.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Citigroup boosted their price target on shares of eBay from $130.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of eBay from $107.00 to $125.00 and gave the stock a “neutral” rating in a research report on Thursday, October 29th. Finally, Truist Financial upped their price target on shares of eBay from $115.00 to $133.00 and gave the company a “hold” rating in a report on Thursday, October 29th. Seventeen investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, eBay presently has a consensus rating of “Hold” and a consensus target price of $123.52.

Insiders Place Their Bets

In related news, SVP Jordan Sweetnam sold 1,014 shares of eBay stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $101.39, for a total value of $102,809.46. Following the transaction, the senior vice president directly owned 35,546 shares in the company, valued at $3,604,008.94. The trade was a 2.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jamie Iannone sold 11,110 shares of the business’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $122.98, for a total value of $1,366,307.80. Following the sale, the chief executive officer directly owned 204,049 shares in the company, valued at $25,093,946.02. This trade represents a 5.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 34,344 shares of company stock worth $3,795,885 over the last 90 days. Insiders own 0.67% of the company’s stock.

About eBay

eBay Inc. operates a global online marketplace that connects buyers and sellers. Its platform supports both auction-style listings and fixed-price sales across a broad range of categories, including electronics, fashion, collectibles, home goods and auto parts. Founded by Pierre Omidyar in 1995 as AuctionWeb, the company adopted the eBay name in 1997. It also provides services and tools for sellers, including advertising, payments and shipping features that support transactions on its marketplace. eBay serves customers and businesses in markets around the world.