Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in eBay Inc. (NASDAQ:EBAY)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 37.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 522,123 shares of the e-commerce company’s stock after purchasing an additional 142,002 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.10% of eBay worth $22,775,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in EBAY. Ameriprise Financial Inc. increased its position in eBay by 39.8% during the third quarter. Ameriprise Financial Inc. now owns 12,418,131 shares of the e-commerce company’s stock worth $547,516,000 after buying an additional 3,534,030 shares during the period. BlackRock Inc. increased its holdings in shares of eBay by 5.4% in the first quarter. BlackRock Inc. now owns 48,038,931 shares of the e-commerce company’s stock valued at $2,131,487,000 after purchasing an additional 2,464,766 shares during the period. Pacer Advisors Inc. increased its holdings in shares of eBay by 34.3% in the fourth quarter. Pacer Advisors Inc. now owns 5,839,329 shares of the e-commerce company’s stock valued at $254,712,000 after purchasing an additional 1,491,485 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of eBay by 82.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 3,118,490 shares of the e-commerce company’s stock valued at $138,367,000 after purchasing an additional 1,410,871 shares during the period. Finally, Norges Bank acquired a new position in shares of eBay in the fourth quarter valued at approximately $50,018,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Stock Down 1.6 %

Shares of NASDAQ:EBAY opened at $49.45 on Thursday. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.09. eBay Inc. has a 52-week low of $37.17 and a 52-week high of $52.93. The stock’s fifty day simple moving average is $48.91 and its 200-day simple moving average is $44.16. The company has a market capitalization of $25.62 billion, a P/E ratio of 9.47, a P/E/G ratio of 2.03 and a beta of 1.33.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Tuesday, February 27th. The e-commerce company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.03 by $0.04. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.51 billion. eBay had a return on equity of 29.16% and a net margin of 27.36%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 EPS. As a group, equities research analysts forecast that eBay Inc. will post 3.69 earnings per share for the current fiscal year.

eBay Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date was Friday, March 8th. This is a positive change from eBay’s previous quarterly dividend of $0.25. eBay’s dividend payout ratio (DPR) is 20.69%.

eBay declared that its board has authorized a stock buyback plan on Tuesday, February 27th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the e-commerce company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Truist Financial boosted their target price on eBay from $47.00 to $48.00 and gave the company a “hold” rating in a report on Thursday, February 29th. Piper Sandler boosted their target price on eBay from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. StockNews.com raised eBay from a “hold” rating to a “buy” rating in a report on Sunday. UBS Group lifted their price target on eBay from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on eBay from $55.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $49.21.

Insider Buying and Selling at eBay

In other eBay news, SVP Edward O. Garcia sold 1,165 shares of eBay stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total value of $50,129.95. Following the transaction, the senior vice president now owns 31,888 shares in the company, valued at approximately $1,372,140.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by company insiders.

About eBay

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.