PNC Financial Services Group Inc. Lowers Stake in eBay Inc. (NASDAQ:EBAY)

PNC Financial Services Group Inc. decreased its position in eBay Inc. (NASDAQ:EBAY) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 193,259 shares of the e-commerce company’s stock after selling 17,062 shares during the period. PNC Financial Services Group Inc.’s holdings in eBay were worth $8,430,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC purchased a new stake in shares of eBay in the fourth quarter valued at about $25,000. Jones Financial Companies Lllp lifted its stake in shares of eBay by 73.5% in the fourth quarter. Jones Financial Companies Lllp now owns 732 shares of the e-commerce company’s stock valued at $32,000 after purchasing an additional 310 shares during the period. Cambridge Trust Co. lifted its stake in shares of eBay by 135.0% in the fourth quarter. Cambridge Trust Co. now owns 1,175 shares of the e-commerce company’s stock valued at $51,000 after purchasing an additional 675 shares during the period. GAMMA Investing LLC acquired a new stake in shares of eBay in the fourth quarter valued at about $78,000. Finally, Eagle Bay Advisors LLC lifted its stake in shares of eBay by 48.5% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,379 shares of the e-commerce company’s stock valued at $104,000 after purchasing an additional 777 shares during the period. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EBAY shares. Morgan Stanley cut their target price on shares of eBay from $62.00 to $61.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Mizuho lifted their target price on shares of eBay from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of eBay from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Citigroup started coverage on shares of eBay in a research report on Thursday, June 6th. They set a “buy” rating and a $64.00 target price for the company. Finally, Truist Financial lifted their target price on shares of eBay from $48.00 to $50.00 and gave the stock a “hold” rating in a research report on Monday, May 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, eBay has an average rating of “Hold” and an average target price of $52.67.

eBay Trading Up 1.9 %

NASDAQ EBAY opened at $53.14 on Tuesday. The company’s fifty day simple moving average is $51.93 and its 200-day simple moving average is $47.55. eBay Inc. has a 52 week low of $37.17 and a 52 week high of $55.15. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.98. The stock has a market cap of $26.68 billion, a P/E ratio of 10.59, a PEG ratio of 2.40 and a beta of 1.32.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.05. The firm had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.53 billion. eBay had a net margin of 25.97% and a return on equity of 29.11%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 earnings per share. Equities research analysts predict that eBay Inc. will post 3.72 EPS for the current fiscal year.

eBay Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were issued a dividend of $0.27 per share. The ex-dividend date was Friday, May 31st. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.03%. eBay’s dividend payout ratio (DPR) is 21.51%.

eBay declared that its Board of Directors has initiated a share buyback plan on Tuesday, February 27th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the e-commerce company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other eBay news, SVP Marie Oh Huber sold 49,070 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $49.63, for a total transaction of $2,435,344.10. Following the sale, the senior vice president now directly owns 177,391 shares of the company’s stock, valued at $8,803,915.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Julie A. Loeger sold 7,419 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $54.20, for a total transaction of $402,109.80. Following the completion of the transaction, the senior vice president now owns 70,797 shares in the company, valued at $3,837,197.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Marie Oh Huber sold 49,070 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $49.63, for a total transaction of $2,435,344.10. Following the transaction, the senior vice president now owns 177,391 shares of the company’s stock, valued at approximately $8,803,915.33. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,572 shares of company stock valued at $2,949,144. Company insiders own 0.38% of the company’s stock.

eBay 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.