Kiltearn Partners LLP Trims Position in eBay Inc. (NASDAQ:EBAY)

Kiltearn Partners LLP cut its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 37.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 435,894 shares of the e-commerce company’s stock after selling 263,900 shares during the quarter. eBay comprises approximately 2.8% of Kiltearn Partners LLP’s portfolio, making the stock its 13th biggest holding. Kiltearn Partners LLP owned approximately 0.09% of eBay worth $23,416,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of eBay in the 2nd quarter worth $26,000. Tortoise Investment Management LLC increased its stake in eBay by 894.2% during the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after acquiring an additional 465 shares during the last quarter. LRI Investments LLC purchased a new position in shares of eBay in the 1st quarter worth about $29,000. Hobbs Group Advisors LLC acquired a new position in shares of eBay in the 2nd quarter valued at about $29,000. Finally, Washington Trust Advisors Inc. purchased a new stake in shares of eBay during the 1st quarter worth about $30,000. 87.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $256,760.14. Following the sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at $4,530,000.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other eBay news, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $256,760.14. Following the completion of the transaction, the senior vice president now directly owns 70,113 shares in the company, valued at approximately $4,530,000.93. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on EBAY. Piper Sandler reissued an “overweight” rating and issued a $64.00 price objective (up previously from $58.00) on shares of eBay in a research report on Thursday, August 1st. Robert W. Baird boosted their price target on eBay from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. The Goldman Sachs Group increased their target price on eBay from $38.00 to $46.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. Jefferies Financial Group upped their price target on shares of eBay from $50.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Finally, Susquehanna increased their price objective on shares of eBay from $52.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.90.

eBay Stock Performance

Shares of EBAY stock opened at $63.45 on Tuesday. eBay Inc. has a 12-month low of $37.17 and a 12-month high of $64.96. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $31.85 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. The business has a 50 day simple moving average of $57.78 and a 200 day simple moving average of $54.19.

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, hitting the consensus estimate of $0.88. eBay had a return on equity of 29.69% and a net margin of 26.41%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.53 billion. On average, equities research analysts anticipate that eBay Inc. will post 3.86 EPS for the current year.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Friday, August 30th. eBay’s dividend payout ratio is currently 21.51%.

About eBay

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.