OLD National Bancorp IN Sells 4,271 Shares of eBay Inc. (NASDAQ:EBAY)

OLD National Bancorp IN trimmed its position in shares of eBay Inc. (NASDAQ:EBAY) by 40.5% during the 4th quarter, HoldingsChannel reports. The fund owned 6,271 shares of the e-commerce company’s stock after selling 4,271 shares during the quarter. OLD National Bancorp IN’s holdings in eBay were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in eBay by 39.8% during the third quarter. Ameriprise Financial Inc. now owns 12,418,131 shares of the e-commerce company’s stock valued at $547,516,000 after acquiring an additional 3,534,030 shares during the period. Nordea Investment Management AB grew its stake in shares of eBay by 2.7% in the 3rd quarter. Nordea Investment Management AB now owns 11,167,875 shares of the e-commerce company’s stock valued at $495,407,000 after purchasing an additional 289,071 shares during the period. Invesco Ltd. grew its stake in shares of eBay by 16.0% in the 3rd quarter. Invesco Ltd. now owns 8,182,095 shares of the e-commerce company’s stock valued at $360,749,000 after purchasing an additional 1,130,089 shares during the period. Northern Trust Corp grew its stake in shares of eBay by 3.1% in the 3rd quarter. Northern Trust Corp now owns 6,979,291 shares of the e-commerce company’s stock valued at $307,717,000 after purchasing an additional 209,695 shares during the period. Finally, Pacer Advisors Inc. grew its stake in shares of eBay by 34.3% in the 4th quarter. Pacer Advisors Inc. now owns 5,839,329 shares of the e-commerce company’s stock valued at $254,712,000 after purchasing an additional 1,491,485 shares during the period. 87.48% of the stock is currently owned by institutional investors.

eBay Stock Performance

Shares of eBay stock opened at $51.34 on Friday. The firm has a fifty day moving average of $49.93 and a two-hundred day moving average of $44.48. The stock has a market capitalization of $26.59 billion, a price-to-earnings ratio of 9.84, a PEG ratio of 2.04 and a beta of 1.33. eBay Inc. has a 52 week low of $37.17 and a 52 week high of $52.93. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.44 and a current ratio of 2.44.

eBay (NASDAQ:EBAY) last issued its earnings results on Tuesday, February 27th. The e-commerce company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.03 by $0.04. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.51 billion. eBay had a net margin of 27.36% and a return on equity of 29.16%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. As a group, equities research analysts predict that eBay Inc. will post 3.75 EPS for the current year.

eBay announced that its board has approved a share buyback plan on Tuesday, February 27th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the e-commerce company to buy up to 8.1% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

eBay Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were given a dividend of $0.27 per share. This is a boost from eBay’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 8th. This represents a $1.08 annualized dividend and a dividend yield of 2.10%. eBay’s payout ratio is presently 20.69%.

Insider Buying and Selling at eBay

In other eBay news, SVP Edward O. Garcia sold 1,165 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total transaction of $50,129.95. Following the completion of the sale, the senior vice president now owns 31,888 shares in the company, valued at approximately $1,372,140.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EBAY. The Goldman Sachs Group began coverage on eBay in a research note on Wednesday, January 10th. They issued a “sell” rating and a $38.00 price objective on the stock. BMO Capital Markets upped their price objective on eBay from $49.00 to $53.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft boosted their target price on eBay from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. StockNews.com raised eBay from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Mizuho boosted their target price on eBay from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, eBay presently has an average rating of “Hold” and a consensus target price of $49.21.

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.