Summit Trail Advisors LLC Acquires 7,958 Shares of eBay Inc. (NASDAQ:EBAY)

Summit Trail Advisors LLC lifted its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 92.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,542 shares of the e-commerce company’s stock after buying an additional 7,958 shares during the period. Summit Trail Advisors LLC’s holdings in eBay were worth $889,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in eBay during the 2nd quarter valued at $26,000. Tortoise Investment Management LLC grew its holdings in shares of eBay by 894.2% in the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after acquiring an additional 465 shares during the period. LRI Investments LLC purchased a new stake in eBay during the first quarter valued at $29,000. Hobbs Group Advisors LLC bought a new position in eBay in the second quarter valued at about $29,000. Finally, Washington Trust Advisors Inc. bought a new position in eBay in the first quarter valued at about $30,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on EBAY shares. Jefferies Financial Group upped their price target on shares of eBay from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. The Goldman Sachs Group upped their target price on shares of eBay from $38.00 to $46.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Morgan Stanley lifted their price target on shares of eBay from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Citigroup upped their price objective on eBay from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald began coverage on eBay in a research report on Thursday, September 5th. They set a “neutral” rating and a $62.00 target price on the stock. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.90.

Insider Transactions at eBay

In related news, SVP Cornelius Boone sold 3,974 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the transaction, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other eBay news, SVP Cornelius Boone sold 3,974 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction of $256,760.14. Following the completion of the transaction, the senior vice president now owns 70,113 shares in the company, valued at $4,530,000.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen J. Priest sold 25,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the completion of the sale, the chief financial officer now owns 70,332 shares in the company, valued at $4,494,918.12. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

eBay Stock Performance

EBAY opened at $62.72 on Monday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $31.49 billion, a price-to-earnings ratio of 12.49, a PEG ratio of 2.35 and a beta of 1.32. The company has a fifty day moving average of $57.58 and a 200 day moving average of $54.10. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $64.96.

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

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Friday, August 30th. eBay’s payout ratio is 21.51%.

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.