Invesco Ltd. grew its stake in eBay Inc. (NASDAQ:EBAY – Free Report) by 8.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,441,396 shares of the e-commerce company’s stock after purchasing an additional 627,823 shares during the period. Invesco Ltd. owned about 1.83% of eBay worth $571,736,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Marvin & Palmer Associates Inc. acquired a new stake in eBay in the 1st quarter worth $2,958,000. Assenagon Asset Management S.A. lifted its holdings in shares of eBay by 0.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 53,089 shares of the e-commerce company’s stock worth $3,596,000 after acquiring an additional 246 shares during the period. Portolan Capital Management LLC lifted its holdings in shares of eBay by 210.2% during the 4th quarter. Portolan Capital Management LLC now owns 238,132 shares of the e-commerce company’s stock worth $14,752,000 after acquiring an additional 161,372 shares during the period. IFP Advisors Inc lifted its holdings in shares of eBay by 59.6% during the 1st quarter. IFP Advisors Inc now owns 3,857 shares of the e-commerce company’s stock worth $261,000 after acquiring an additional 1,440 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of eBay by 2.7% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 79,452 shares of the e-commerce company’s stock worth $5,381,000 after acquiring an additional 2,095 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at eBay
In other news, CEO Jamie Iannone sold 10,974 shares of eBay stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $75.75, for a total transaction of $831,280.50. Following the completion of the sale, the chief executive officer owned 306,651 shares in the company, valued at $23,228,813.25. The trade was a 3.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Julie A. Loeger sold 75,952 shares of eBay stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $93.25, for a total transaction of $7,082,524.00. Following the sale, the senior vice president owned 53,107 shares of the company’s stock, valued at approximately $4,952,227.75. This represents a 58.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 276,104 shares of company stock worth $22,025,676 in the last 90 days. Corporate insiders own 0.64% of the company’s stock.
eBay Trading Up 0.1%
eBay (NASDAQ:EBAY – Get Free Report) last announced its earnings results on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. eBay had a net margin of 20.86% and a return on equity of 38.97%. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period in the previous year, the firm posted $1.18 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts expect that eBay Inc. will post 3.86 earnings per share for the current fiscal year.
eBay Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Friday, August 29th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, August 29th. This represents a $1.16 annualized dividend and a dividend yield of 1.2%. eBay’s payout ratio is currently 25.55%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on the stock. Stifel Nicolaus raised their price objective on shares of eBay from $62.00 to $68.00 and gave the stock a “hold” rating in a report on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of eBay from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. raised their price objective on shares of eBay from $66.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 11th. Truist Financial raised their price objective on shares of eBay from $62.00 to $68.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Finally, Evercore ISI raised their price objective on shares of eBay from $63.00 to $69.00 and gave the stock an “in-line” rating in a report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, eBay has an average rating of “Hold” and an average price target of $78.19.
Check Out Our Latest Stock Report on EBAY
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.
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