NewEdge Wealth LLC Grows Position in eBay Inc. (NASDAQ:EBAY)

NewEdge Wealth LLC raised its position in eBay Inc. (NASDAQ:EBAY) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 461,587 shares of the e-commerce company’s stock after acquiring an additional 37,457 shares during the quarter. NewEdge Wealth LLC’s holdings in eBay were worth $28,595,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EBAY. Golden State Wealth Management LLC purchased a new stake in shares of eBay during the 4th quarter worth $27,000. Quarry LP acquired a new stake in eBay in the third quarter valued at $36,000. New Wave Wealth Advisors LLC purchased a new stake in eBay during the 4th quarter worth about $36,000. Versant Capital Management Inc boosted its position in shares of eBay by 115.5% during the 4th quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock worth $52,000 after acquiring an additional 448 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of eBay in the 3rd quarter valued at about $55,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

eBay Trading Down 2.5 %

Shares of EBAY stock opened at $69.14 on Thursday. The company has a market capitalization of $33.12 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.22 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $66.24 and a 200 day moving average price of $63.67. eBay Inc. has a twelve month low of $46.53 and a twelve month high of $71.61.

eBay Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from eBay’s previous quarterly dividend of $0.27. eBay’s payout ratio is currently 27.14%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on EBAY shares. JMP Securities restated a “market perform” rating on shares of eBay in a report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of eBay in a research report on Thursday, October 31st. Piper Sandler raised their target price on shares of eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Wedbush initiated coverage on shares of eBay in a report on Monday, December 9th. They issued a “neutral” rating and a $70.00 target price on the stock. Finally, Robert W. Baird reduced their price objective on shares of eBay from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, eBay currently has an average rating of “Hold” and an average target price of $63.38.

Insider Activity at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $63.21, for a total transaction of $355,556.25. Following the sale, the chief executive officer now owns 531,167 shares in the company, valued at $33,575,066.07. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Cornelius Boone sold 3,989 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $65.20, for a total value of $260,082.80. Following the transaction, the senior vice president now owns 71,469 shares in the company, valued at $4,659,778.80. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,149 shares of company stock valued at $1,746,065. Company insiders own 0.38% of the company’s stock.

eBay Company Profile

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.