Balentine LLC Takes Position in eBay Inc. (NASDAQ:EBAY)

Posted by on Apr 16th, 2023

Balentine LLC acquired a new position in eBay Inc. (NASDAQ:EBAY – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,733 shares of the e-commerce company’s stock, valued at approximately $404,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrature Capital Ltd purchased a new position in shares of eBay during the third quarter valued at about $1,921,000. Alta Advisers Ltd bought a new stake in eBay in the third quarter worth about $74,000. Louisiana State Employees Retirement System purchased a new position in shares of eBay during the third quarter worth approximately $2,386,000. Aigen Investment Management LP increased its position in shares of eBay by 41.1% during the third quarter. Aigen Investment Management LP now owns 47,227 shares of the e-commerce company’s stock worth $1,738,000 after acquiring an additional 13,755 shares during the period. Finally, Clarius Group LLC increased its position in shares of eBay by 5.9% during the third quarter. Clarius Group LLC now owns 9,734 shares of the e-commerce company’s stock worth $358,000 after acquiring an additional 538 shares during the period. 85.51% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on EBAY. Credit Suisse Group lifted their price objective on shares of eBay from $55.00 to $57.00 and gave the company an “outperform” rating in a report on Tuesday, February 21st. Benchmark lowered their price objective on shares of eBay from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Thursday, February 23rd. UBS Group boosted their target price on shares of eBay from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, February 23rd. Susquehanna upped their price objective on shares of eBay from $42.00 to $43.00 and gave the stock a “neutral” rating in a research report on Monday, February 27th. Finally, Morgan Stanley upped their price objective on shares of eBay from $32.00 to $33.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 28th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $49.13.

eBay Stock Performance

NASDAQ:EBAY opened at $43.53 on Friday. 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 firm has a market capitalization of $23.37 billion, a price-to-earnings ratio of -20.44, a PEG ratio of 1.39 and a beta of 1.35. The company’s 50-day moving average is $44.93 and its two-hundred day moving average is $43.50. eBay Inc. has a 1-year low of $35.92 and a 1-year high of $55.86.

eBay (NASDAQ:EBAY – Get Rating) last issued its quarterly earnings data on Wednesday, February 22nd. The e-commerce company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. eBay had a negative net margin of 12.96% and a positive return on equity of 34.14%. The firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period in the prior year, the business posted $0.89 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. Analysts forecast that eBay Inc. will post 3.32 EPS for the current year.

eBay Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 24th. Investors of record on Friday, March 10th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.30%. The ex-dividend date was Thursday, March 9th. This is a positive change from eBay’s previous quarterly dividend of $0.22. eBay’s dividend payout ratio is -46.95%.

About eBay

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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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