Envestnet Asset Management Inc. Purchases 301,838 Shares of eBay Inc. (NASDAQ:EBAY)

Envestnet Asset Management Inc. grew its position in eBay Inc. (NASDAQ:EBAY) by 38.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,078,622 shares of the e-commerce company’s stock after purchasing an additional 301,838 shares during the quarter. Envestnet Asset Management Inc.’s holdings in eBay were worth $57,944,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Oppenheimer Asset Management Inc. boosted its stake in eBay by 28.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 34,716 shares of the e-commerce company’s stock worth $1,865,000 after acquiring an additional 7,791 shares in the last quarter. Thoroughbred Financial Services LLC bought a new position in eBay during the second quarter worth $200,000. Federated Hermes Inc. boosted its stake in eBay by 42.9% during the second quarter. Federated Hermes Inc. now owns 547,517 shares of the e-commerce company’s stock worth $29,413,000 after acquiring an additional 164,282 shares in the last quarter. Meeder Advisory Services Inc. boosted its stake in eBay by 51.6% during the second quarter. Meeder Advisory Services Inc. now owns 6,547 shares of the e-commerce company’s stock worth $352,000 after acquiring an additional 2,229 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in eBay by 21.7% during the second quarter. DekaBank Deutsche Girozentrale now owns 142,419 shares of the e-commerce company’s stock worth $7,577,000 after acquiring an additional 25,439 shares in the last quarter. 87.48% of the stock is owned by institutional investors.

eBay Price Performance

Shares of NASDAQ:EBAY opened at $63.17 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $31.71 billion, a PE ratio of 12.58, a P/E/G ratio of 2.35 and a beta of 1.32. eBay Inc. has a twelve month low of $37.17 and a twelve month high of $64.96. The company has a 50-day moving average price of $57.23 and a two-hundred day moving average price of $53.88.

eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.88. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.53 billion. eBay had a net margin of 26.41% and a return on equity of 29.69%. Equities analysts forecast that eBay Inc. will post 3.86 EPS for the current year.

eBay Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.71%. eBay’s dividend payout ratio (DPR) is currently 21.51%.

Insider Activity

In other news, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the transaction, the chief financial officer now directly owns 70,332 shares in the company, valued at $4,494,918.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of eBay from $50.00 to $58.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. Evercore ISI increased their target price on shares of eBay from $47.00 to $53.00 and gave the company an “in-line” rating in a report on Thursday, August 1st. Wolfe Research assumed coverage on shares of eBay in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Susquehanna increased their target price on shares of eBay from $52.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Finally, Citigroup increased their target price on shares of eBay from $64.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $56.90.

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.