Burgundy Asset Management Ltd. Reduces Stock Holdings in eBay Inc. (NASDAQ:EBAY)

Burgundy Asset Management Ltd. reduced its stake in shares of eBay Inc. (NASDAQ:EBAY) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,313,467 shares of the e-commerce company’s stock after selling 29,277 shares during the quarter. Burgundy Asset Management Ltd. owned 0.45% of eBay worth $100,913,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. CVA Family Office LLC purchased a new stake in shares of eBay during the 4th quarter valued at about $25,000. Jones Financial Companies Lllp raised its holdings in shares of eBay by 73.5% during the 4th quarter. Jones Financial Companies Lllp now owns 732 shares of the e-commerce company’s stock valued at $32,000 after buying an additional 310 shares during the period. First Command Advisory Services Inc. purchased a new stake in shares of eBay during the 3rd quarter valued at about $46,000. Cambridge Trust Co. increased its holdings in eBay by 135.0% during the 4th quarter. Cambridge Trust Co. now owns 1,175 shares of the e-commerce company’s stock worth $51,000 after purchasing an additional 675 shares during the last quarter. Finally, NBC Securities Inc. purchased a new stake in eBay during the 3rd quarter worth approximately $55,000. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Julie A. Loeger sold 7,419 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $54.20, for a total transaction of $402,109.80. Following the transaction, the senior vice president now directly owns 70,797 shares in the company, valued at $3,837,197.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other eBay news, SVP Marie Oh Huber sold 49,070 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $49.63, for a total value of $2,435,344.10. Following the transaction, the senior vice president now directly owns 177,391 shares in the company, valued at $8,803,915.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Julie A. Loeger sold 7,419 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $54.20, for a total transaction of $402,109.80. Following the completion of the transaction, the senior vice president now owns 70,797 shares in the company, valued at $3,837,197.40. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

eBay Stock Down 1.4 %

Shares of NASDAQ EBAY traded down $0.74 during mid-day trading on Wednesday, reaching $53.01. 1,954,412 shares of the company’s stock traded hands, compared to its average volume of 6,140,735. The stock has a market cap of $26.61 billion, a P/E ratio of 10.71, a PEG ratio of 2.47 and a beta of 1.32. The business has a 50-day simple moving average of $51.74 and a 200 day simple moving average of $46.78. eBay Inc. has a 1-year low of $37.17 and a 1-year high of $55.15. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.99 and a quick ratio of 1.99.

eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. The firm had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.53 billion. eBay had a net margin of 25.97% and a return on equity of 29.11%. The business’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. On average, analysts expect that eBay Inc. will post 3.72 EPS for the current fiscal year.

eBay announced that its board has initiated a stock repurchase plan on Tuesday, February 27th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the e-commerce company to buy up to 8.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, May 31st. eBay’s dividend payout ratio (DPR) is presently 21.51%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Jefferies Financial Group lifted their target price on eBay from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. UBS Group lifted their target price on eBay from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. TD Cowen lifted their target price on eBay from $42.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Morgan Stanley reduced their price objective on eBay from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, BMO Capital Markets boosted their price target on eBay from $49.00 to $53.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $52.05.

eBay Profile

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.