Evolve Private Wealth LLC acquired a new position in eBay Inc. (NASDAQ:EBAY – Free Report) in the second quarter, HoldingsChannel.com reports. The firm acquired 27,256 shares of the e-commerce company’s stock, valued at approximately $3,046,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in EBAY. Allworth Financial LP raised its stake in eBay by 62.6% during the 4th quarter. Allworth Financial LP now owns 23,108 shares of the e-commerce company’s stock valued at $2,013,000 after buying an additional 8,899 shares during the last quarter. North Dakota State Investment Board purchased a new position in shares of eBay in the 4th quarter worth $1,809,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of eBay in the 4th quarter worth $9,368,000. Jefferies Financial Group Inc. bought a new stake in shares of eBay in the fourth quarter worth $1,209,000. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund increased its position in eBay by 904.3% during the fourth quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 283,215 shares of the e-commerce company’s stock valued at $24,668,000 after acquiring an additional 255,015 shares during the last quarter. 87.48% of the stock is owned by institutional investors.
eBay Price Performance
NASDAQ EBAY opened at $104.13 on Friday. eBay Inc. has a 12 month low of $78.03 and a 12 month high of $119.31. The stock has a market cap of $46.34 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 2.51 and a beta of 1.37. The company’s 50 day moving average is $110.12 and its two-hundred day moving average is $102.31. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.10.
eBay Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 28th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.24 dividend on an annualized basis and a yield of 1.2%. eBay’s dividend payout ratio (DPR) is currently 25.67%.
Insider Buying and Selling at eBay
In related news, SVP Mazen Rawashdeh sold 1,919 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $108.51, for a total transaction of $208,230.69. Following the completion of the sale, the senior vice president owned 32,124 shares in the company, valued at approximately $3,485,775.24. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jamie Iannone sold 11,110 shares of eBay stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $108.55, for a total value of $1,205,990.50. Following the sale, the chief executive officer directly owned 253,211 shares in the company, valued at $27,486,054.05. This trade represents a 4.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,126 shares of company stock valued at $4,087,886 over the last ninety days. 0.67% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on EBAY shares. Wall Street Zen upgraded eBay from a “hold” rating to a “buy” rating in a research note on Sunday, April 26th. JPMorgan Chase & Co. increased their price objective on shares of eBay from $87.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Citigroup raised their price objective on shares of eBay from $127.00 to $130.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. The Goldman Sachs Group boosted their target price on shares of eBay from $88.00 to $100.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Finally, Wells Fargo & Company cut shares of eBay from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $105.00 to $92.00 in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $117.24.
View Our Latest Report on eBay
About eBay
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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