Cullinan Associates Inc. Cuts Position in eBay Inc. (NASDAQ:EBAY)

Posted by on Mar 21st, 2023

Cullinan Associates Inc. decreased its holdings in eBay Inc. (NASDAQ:EBAY – Get Rating) by 42.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,138 shares of the e-commerce company’s stock after selling 7,562 shares during the quarter. Cullinan Associates Inc.’s holdings in eBay were worth $420,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EBAY. American Century Companies Inc. raised its position in eBay by 9.5% in the first quarter. American Century Companies Inc. now owns 41,990 shares of the e-commerce company’s stock worth $2,404,000 after acquiring an additional 3,655 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of eBay by 21.7% in the first quarter. Raymond James Trust N.A. now owns 9,176 shares of the e-commerce company’s stock valued at $526,000 after buying an additional 1,638 shares in the last quarter. Sei Investments Co. increased its position in shares of eBay by 34.7% in the first quarter. Sei Investments Co. now owns 461,862 shares of the e-commerce company’s stock valued at $26,460,000 after buying an additional 118,952 shares in the last quarter. Aviva PLC increased its position in shares of eBay by 6.2% in the first quarter. Aviva PLC now owns 223,976 shares of the e-commerce company’s stock valued at $12,825,000 after buying an additional 13,127 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of eBay by 17.0% in the first quarter. Sequoia Financial Advisors LLC now owns 10,715 shares of the e-commerce company’s stock valued at $614,000 after buying an additional 1,555 shares in the last quarter. Hedge funds and other institutional investors own 85.51% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Susquehanna raised their price target on eBay from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, February 27th. UBS Group raised their price target on eBay from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, February 23rd. Morgan Stanley raised their price target on eBay from $32.00 to $33.00 and gave the company an “underweight” rating in a research report on Tuesday, February 28th. Deutsche Bank Aktiengesellschaft dropped their price target on eBay from $55.00 to $50.00 in a research report on Thursday, February 23rd. Finally, Bank of America increased their price objective on eBay from $44.00 to $52.00 in a research note on Tuesday, February 21st. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $49.92.

eBay Stock Performance

NASDAQ EBAY opened at $43.04 on Tuesday. The firm has a market capitalization of $23.11 billion, a P/E ratio of -20.21, a P/E/G ratio of 1.37 and a beta of 1.37. eBay Inc. has a 1-year low of $35.92 and a 1-year high of $60.38. The company has a debt-to-equity ratio of 1.50, a current ratio of 2.18 and a quick ratio of 2.18. The business’s 50-day simple moving average is $46.59 and its 200-day simple moving average is $43.30.

eBay (NASDAQ:EBAY – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The e-commerce company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.01. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.46 billion. eBay had a positive return on equity of 34.14% and a negative net margin of 12.96%. The company’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. Equities analysts predict that eBay Inc. will post 3.36 EPS for the current year.

eBay Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 10th will be issued a dividend of $0.25 per share. This is an increase from eBay’s previous quarterly dividend of $0.22. This represents a $1.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date is Thursday, March 9th. eBay’s dividend payout ratio (DPR) is presently -46.95%.

eBay Profile

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eBay, Inc is a commerce company, whose platforms include an online marketplace and its localized counterparts, including off-platform businesses in South Korea, Japan, and Turkey, as well as eBay’s suite of mobile apps. Its technologies and services are designed to give buyers choice and a breadth of relevant inventory and to enable sellers worldwide to organize and offer their inventory for sale, virtually anytime and anywhere.

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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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