Redwood Investment Management LLC Lowers Stock Holdings in eBay Inc. (NASDAQ:EBAY)

Redwood Investment Management LLC cut its position in eBay Inc. (NASDAQ:EBAY) by 73.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,465 shares of the e-commerce company’s stock after selling 78,181 shares during the quarter. Redwood Investment Management LLC’s holdings in eBay were worth $1,763,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of EBAY. Ameriprise Financial Inc. grew its position 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 valued at $1,765,148,000 after acquiring an additional 3,149,934 shares in the last quarter. Independent Franchise Partners LLP boosted its stake in shares of eBay by 25.6% in the fourth quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company’s stock valued at $692,517,000 after purchasing an additional 2,277,839 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of eBay by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company’s stock valued at $435,665,000 after purchasing an additional 245,624 shares during the period. Northern Trust Corp grew its holdings in shares of eBay by 17.8% in the fourth quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company’s stock valued at $421,834,000 after purchasing an additional 1,030,292 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in eBay by 1.4% during the 4th quarter. Victory Capital Management Inc. now owns 5,936,508 shares of the e-commerce company’s stock worth $367,767,000 after buying an additional 82,904 shares during the period. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Stock Up 2.1%

EBAY opened at $70.60 on Friday. eBay Inc. has a one year low of $51.02 and a one year high of $71.61. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $32.55 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.22 and a beta of 1.30. The business’s 50-day simple moving average is $66.35 and its 200-day simple moving average is $65.37.

eBay (NASDAQ:EBAY) last released its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. The firm had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. eBay had a return on equity of 30.97% and a net margin of 19.68%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 EPS. Analysts anticipate that eBay Inc. will post 3.86 EPS for the current year.

eBay Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 1.64%. eBay’s dividend payout ratio (DPR) is 27.62%.

Analyst Upgrades and Downgrades

Several brokerages have commented on EBAY. Needham & Company LLC raised their price target on shares of eBay from $72.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, May 1st. Wells Fargo & Company upped their price objective on eBay from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 1st. JPMorgan Chase & Co. lifted their target price on eBay from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. JMP Securities restated a “market perform” rating on shares of eBay in a report on Thursday, May 1st. Finally, UBS Group increased their price target on eBay from $72.00 to $73.00 and gave the company a “neutral” rating in a research report on Tuesday, April 29th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $67.42.

Insider Buying and Selling

In other news, SVP Julie A. Loeger sold 127,070 shares of the business’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $69.43, for a total value of $8,822,470.10. Following the transaction, the senior vice president now owns 123,282 shares of the company’s stock, valued at approximately $8,559,469.26. The trade was a 50.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Cornelius Boone sold 3,958 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total value of $265,423.48. Following the sale, the senior vice president now owns 94,392 shares of the company’s stock, valued at $6,329,927.52. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 187,755 shares of company stock worth $12,943,715 in the last 90 days. Company insiders own 0.38% of the company’s stock.

eBay Company 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.