Truist Financial Corp Sells 316,255 Shares of eBay Inc. (NASDAQ:EBAY)

Truist Financial Corp lowered its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 13.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,017,792 shares of the e-commerce company’s stock after selling 316,255 shares during the quarter. Truist Financial Corp’s holdings in eBay were worth $88,016,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of EBAY. Ameriprise Financial Inc. lifted its position 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 purchasing an additional 3,534,030 shares during the last quarter. Pacer Advisors Inc. lifted its holdings 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 worth $254,712,000 after acquiring an additional 1,491,485 shares during the last quarter. Invesco Ltd. lifted its holdings 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 worth $360,749,000 after acquiring an additional 1,130,089 shares during the last quarter. Boston Partners lifted its holdings in shares of eBay by 17.7% in the 3rd quarter. Boston Partners now owns 3,980,512 shares of the e-commerce company’s stock worth $175,451,000 after acquiring an additional 599,607 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of eBay by 604.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 630,956 shares of the e-commerce company’s stock worth $27,522,000 after acquiring an additional 541,384 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.

eBay Stock Performance

NASDAQ:EBAY traded up $0.68 during trading hours on Friday, hitting $52.02. 4,985,631 shares of the company were exchanged, compared to its average volume of 4,369,263. The stock has a market capitalization of $26.95 billion, a price-to-earnings ratio of 9.97, 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 current ratio of 2.44 and a quick ratio of 2.44. The company’s 50 day moving average price is $50.11 and its 200-day moving average price is $44.54.

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

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

eBay Increases Dividend

The business 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 represents a $1.08 annualized dividend and a yield of 2.08%. The ex-dividend date was Friday, March 8th. This is an increase from eBay’s previous quarterly dividend of $0.25. eBay’s payout ratio is currently 20.69%.

Insiders Place Their Bets

In other eBay news, SVP Edward O. Garcia sold 1,165 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now owns 31,888 shares of the company’s stock, valued at approximately $1,372,140.64. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EBAY. Susquehanna lifted their price objective on shares of eBay from $43.00 to $52.00 and gave the company a “neutral” rating in a report on Thursday, February 29th. Barclays lifted their price objective on shares of eBay from $55.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. BMO Capital Markets raised their target price on shares of eBay from $49.00 to $53.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Truist Financial raised their target price on shares of eBay from $47.00 to $48.00 and gave the company a “hold” rating in a research report on Thursday, February 29th. Finally, The Goldman Sachs Group assumed coverage on shares of eBay in a research report on Wednesday, January 10th. They set a “sell” rating and a $38.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, eBay has an average rating of “Hold” and an average price target 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.