eBay Inc. (NASDAQ:EBAY) Position Reduced by Palouse Capital Management Inc.

Palouse Capital Management Inc. reduced its position in shares of eBay Inc. (NASDAQ:EBAY) by 2.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,288 shares of the e-commerce company’s stock after selling 814 shares during the quarter. Palouse Capital Management Inc.’s holdings in eBay were worth $1,573,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EBAY. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of eBay in the second quarter valued at $26,000. Tortoise Investment Management LLC boosted its position in shares of eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after purchasing an additional 465 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of eBay during the 2nd quarter valued at about $29,000. Washington Trust Advisors Inc. bought a new stake in shares of eBay in the 1st quarter worth approximately $30,000. Finally, LRI Investments LLC bought a new stake in shares of eBay in the 1st quarter worth approximately $29,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EBAY shares. Robert W. Baird raised their target price on shares of eBay from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Daiwa America raised eBay to a “hold” rating in a research report on Wednesday, August 14th. Piper Sandler reaffirmed an “overweight” rating and set a $64.00 target price (up from $58.00) on shares of eBay in a report on Thursday, August 1st. Truist Financial lifted their target price on shares of eBay from $50.00 to $58.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group upped their price target on eBay from $38.00 to $46.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, eBay has an average rating of “Hold” and a consensus price target of $56.90.

eBay Price Performance

NASDAQ EBAY opened at $63.17 on Thursday. eBay Inc. has a 1 year low of $37.17 and a 1 year high of $64.96. The company has a fifty day simple moving average of $57.23 and a 200 day simple moving average of $53.88. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.12. The company has a market cap of $31.71 billion, a P/E ratio of 12.58, a P/E/G ratio of 2.35 and a beta of 1.32.

eBay (NASDAQ:EBAY) last released its quarterly earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.88. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.53 billion. eBay had a net margin of 26.41% and a return on equity of 29.69%. On average, sell-side analysts predict that eBay Inc. will post 3.86 EPS for the current year.

eBay Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Friday, August 30th. eBay’s dividend payout ratio (DPR) is currently 21.51%.

Insiders Place Their Bets

In other news, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $63.91, for a total value of $1,597,750.00. Following the sale, the chief financial officer now owns 70,332 shares in the company, valued at $4,494,918.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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.