Securian Asset Management Inc. Sells 1,614 Shares of eBay Inc. (NASDAQ:EBAY)

Posted by Defense World Staff on Apr 24th, 2023

Securian Asset Management Inc. decreased its holdings in eBay Inc. (NASDAQ:EBAY – Get Rating) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,600 shares of the e-commerce company’s stock after selling 1,614 shares during the period. Securian Asset Management Inc.’s holdings in eBay were worth $1,850,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in EBAY. Quadrature Capital Ltd acquired a new stake in eBay during the 3rd quarter valued at $1,921,000. Alta Advisers Ltd acquired a new position in eBay in the 3rd quarter valued at about $74,000. Louisiana State Employees Retirement System bought a new position in eBay in the 3rd quarter valued at about $2,386,000. Aigen Investment Management LP lifted its position in 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 last quarter. Finally, Clarius Group LLC grew its position in shares of eBay by 5.9% in the third quarter. Clarius Group LLC now owns 9,734 shares of the e-commerce company’s stock valued at $358,000 after purchasing an additional 538 shares during the last quarter. 85.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. UBS Group raised their price target on shares of eBay from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, February 23rd. Piper Sandler boosted their price target on eBay from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, February 23rd. Credit Suisse Group raised their price objective on eBay from $55.00 to $57.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 21st. StockNews.com downgraded eBay from a “buy” rating to a “hold” rating in a research report on Tuesday, April 11th. Finally, Susquehanna raised their price target on eBay from $42.00 to $43.00 and gave the stock a “neutral” rating in a research report on Monday, February 27th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $49.13.

eBay Stock Performance

Shares of NASDAQ:EBAY opened at $43.11 on Monday. The company’s fifty day moving average is $44.38 and its 200 day moving average is $43.74. eBay Inc. has a 52 week low of $35.92 and a 52 week high of $54.83. The company has a current ratio of 2.18, a quick ratio of 2.18 and a debt-to-equity ratio of 1.50.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the company earned $0.89 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, equities research analysts predict that eBay Inc. will post 3.35 EPS for the current fiscal year.

eBay Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date was Thursday, March 9th. This is an increase from eBay’s previous quarterly dividend of $0.22. eBay’s dividend payout ratio is currently -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.