Truist Financial Corp Grows Stock Holdings in eBay Inc. (NASDAQ:EBAY)

Truist Financial Corp increased its stake in shares of eBay Inc. (NASDAQ:EBAY) by 45.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,089,998 shares of the e-commerce company’s stock after buying an additional 340,120 shares during the quarter. Truist Financial Corp’s holdings in eBay were worth $58,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EBAY. Bank of Nova Scotia boosted its holdings in eBay by 9.5% in the 4th quarter. Bank of Nova Scotia now owns 64,815 shares of the e-commerce company’s stock valued at $2,827,000 after purchasing an additional 5,624 shares in the last quarter. California State Teachers Retirement System boosted its holdings in eBay by 6.7% in the 4th quarter. California State Teachers Retirement System now owns 925,696 shares of the e-commerce company’s stock valued at $40,379,000 after purchasing an additional 58,180 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings in eBay by 73.5% in the 4th quarter. Jones Financial Companies Lllp now owns 732 shares of the e-commerce company’s stock valued at $32,000 after purchasing an additional 310 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in eBay by 2.0% in the 4th quarter. Royal London Asset Management Ltd. now owns 209,264 shares of the e-commerce company’s stock valued at $9,128,000 after purchasing an additional 4,093 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in eBay by 152.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 74,589 shares of the e-commerce company’s stock valued at $3,254,000 after purchasing an additional 44,985 shares in the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Trading Up 1.1 %

Shares of EBAY opened at $65.83 on Wednesday. The stock has a fifty day moving average of $59.04 and a two-hundred day moving average of $54.74. 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 company has a market capitalization of $33.05 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 2.45 and a beta of 1.32. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $66.10.

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

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.27 per share. The ex-dividend date was Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.64%. eBay’s payout ratio is 21.51%.

Insider Transactions at eBay

In other news, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction on 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 directly owns 70,332 shares in the company, valued at approximately $4,494,918.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction on 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 directly owns 70,332 shares in the company, valued at approximately $4,494,918.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Cornelius Boone sold 3,974 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at $4,530,000.93. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on EBAY. StockNews.com raised eBay from a “hold” rating to a “buy” rating in a report on Monday. Susquehanna boosted their price target on eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler reissued an “overweight” rating and set a $64.00 price target (up previously from $58.00) on shares of eBay in a research note on Thursday, August 1st. Evercore ISI boosted their price target on eBay from $47.00 to $53.00 and gave the stock an “in-line” rating in a research note on Thursday, August 1st. Finally, Wolfe Research began coverage on eBay in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, eBay currently has a consensus rating of “Hold” and an average price target of $57.29.

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.