Modera Wealth Management LLC Cuts Holdings in eBay Inc. (NASDAQ:EBAY)

Modera Wealth Management LLC trimmed its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 6.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,180 shares of the e-commerce company’s stock after selling 632 shares during the period. Modera Wealth Management LLC’s holdings in eBay were worth $622,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Abound Financial LLC purchased a new stake in eBay during the 1st quarter valued at $29,000. Orion Capital Management LLC purchased a new position in shares of eBay in the 4th quarter worth $27,000. Pinney & Scofield Inc. purchased a new position in shares of eBay in the 4th quarter worth $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of eBay in the 4th quarter worth $33,000. Finally, Sierra Ocean LLC boosted its stake in shares of eBay by 84.9% in the 1st quarter. Sierra Ocean LLC now owns 538 shares of the e-commerce company’s stock worth $36,000 after buying an additional 247 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at eBay

In other news, CEO Jamie Iannone sold 10,974 shares of eBay stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $75.75, for a total value of $831,280.50. Following the sale, the chief executive officer directly owned 306,651 shares of the company’s stock, valued at approximately $23,228,813.25. The trade was a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jordan Douglas Bradle Sweetnam sold 22,206 shares of eBay stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $77.90, for a total value of $1,729,847.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 337,222 shares of company stock valued at $24,463,922. 0.64% of the stock is owned by company insiders.

eBay Price Performance

NASDAQ:EBAY opened at $91.74 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.00 and a debt-to-equity ratio of 1.05. The business’s 50-day simple moving average is $77.42 and its two-hundred day simple moving average is $70.68. The stock has a market cap of $42.29 billion, a PE ratio of 20.21, a P/E/G ratio of 2.43 and a beta of 1.27. eBay Inc. has a 52 week low of $54.55 and a 52 week high of $92.79.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, July 30th. The e-commerce company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. eBay had a return on equity of 38.97% and a net margin of 20.86%. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the firm earned $1.18 earnings per share. The business’s quarterly revenue was up 6.1% on a year-over-year basis. As a group, analysts forecast that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. eBay’s payout ratio is 25.55%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on EBAY shares. Wells Fargo & Company raised their price target on eBay from $66.00 to $84.00 and gave the stock an “equal weight” rating in a research note on Thursday. BMO Capital Markets upgraded eBay from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $70.00 to $102.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on eBay from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Citigroup dropped their price target on eBay from $80.00 to $79.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Finally, Barclays restated an “overweight” rating and issued a $92.00 price target (up from $77.00) on shares of eBay in a research note on Thursday. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $77.69.

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.