Oppenheimer Asset Management Inc. bought a new stake in shares of eBay Inc. (NASDAQ:EBAY – Free Report) during the 2nd quarter, HoldingsChannel reports. The firm bought 35,445 shares of the e-commerce company’s stock, valued at approximately $3,961,000.
A number of other large investors also recently made changes to their positions in the business. Cedar Mountain Advisors LLC boosted its holdings in shares of eBay by 128.9% during the first quarter. Cedar Mountain Advisors LLC now owns 277 shares of the e-commerce company’s stock worth $25,000 after purchasing an additional 156 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in eBay in the 1st quarter valued at approximately $26,000. Abound Financial LLC acquired a new position in eBay in the 4th quarter valued at approximately $26,000. High Point Wealth Management LLC purchased a new stake in eBay in the 4th quarter worth approximately $26,000. Finally, Jessup Wealth Management Inc purchased a new stake in eBay in the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 87.48% of the company’s stock.
eBay Stock Down 1.4%
Shares of eBay stock opened at $103.14 on Friday. eBay Inc. has a 12-month low of $78.03 and a 12-month high of $119.31. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.10. The stock has a 50 day moving average price of $110.66 and a two-hundred day moving average price of $102.00. The stock has a market capitalization of $45.90 billion, a P/E ratio of 21.35, a PEG ratio of 2.49 and a beta of 1.37.
eBay Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Investors of record on Friday, August 28th will be issued a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 28th. eBay’s dividend payout ratio (DPR) is 25.67%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of eBay from $87.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Wall Street Zen raised shares of eBay from a “hold” rating to a “buy” rating in a research note on Sunday, April 26th. Arete Research cut their price objective on eBay from $113.00 to $111.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. Bank of America lifted their price objective on eBay from $102.00 to $110.00 and gave the company a “neutral” rating in a research report on Tuesday, April 21st. Finally, Robert W. Baird set a $126.00 target price on eBay in a research note on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, eBay has a consensus rating of “Hold” and a consensus price target of $117.09.
View Our Latest Analysis on eBay
Insider Buying and Selling
In other eBay news, SVP Mazen Rawashdeh sold 50,000 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $117.04, for a total transaction of $5,852,000.00. Following the completion of the transaction, the senior vice president owned 29,217 shares of the company’s stock, valued at $3,419,557.68. The trade was a 63.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jamie Iannone sold 11,110 shares of the company’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $108.55, for a total transaction of $1,205,990.50. Following the sale, the chief executive officer owned 253,211 shares of the company’s stock, valued at $27,486,054.05. This trade represents a 4.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 87,122 shares of company stock worth $9,953,842 in the last quarter. 0.67% of the stock is currently owned by company insiders.
eBay Company Profile
eBay Inc is a global e-commerce company that operates an online marketplace connecting individual consumers and businesses for the sale and purchase of new, used and collectible goods. Founded in 1995 by Pierre Omidyar and headquartered in San Jose, California, eBay grew from its early auction-style site into a diversified platform offering both auction-format listings and fixed-price “Buy It Now” transactions. The company completed an initial public offering in the late 1990s and has since evolved its platform and services to support a broad range of product categories and buyer preferences.
The company’s core business centers on its marketplace platform, which provides listing, search and transaction capabilities for millions of items across consumer goods, electronics, fashion, collectibles and more.
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