NewEdge Advisors LLC Purchases 32,110 Shares of eBay Inc. (NASDAQ:EBAY)

NewEdge Advisors LLC grew its position in eBay Inc. (NASDAQ:EBAY) by 145.9% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,112 shares of the e-commerce company’s stock after purchasing an additional 32,110 shares during the period. NewEdge Advisors LLC’s holdings in eBay were worth $2,907,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in eBay by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock valued at $3,321,403,000 after buying an additional 4,524,934 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of eBay by 17.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock worth $1,394,797,000 after acquiring an additional 3,880,649 shares in the last quarter. M&G Plc acquired a new stake in shares of eBay in the first quarter valued at approximately $97,557,000. Swedbank AB bought a new stake in shares of eBay in the first quarter worth $73,777,000. Finally, Altshuler Shaham Ltd acquired a new position in eBay during the second quarter worth $71,593,000. 87.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EBAY shares. Benchmark lifted their price target on shares of eBay from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Daiwa America raised eBay to a “hold” rating in a research report on Wednesday, August 14th. StockNews.com upgraded eBay from a “hold” rating to a “buy” rating in a report on Monday. The Goldman Sachs Group raised their price target on eBay from $38.00 to $46.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. Finally, Evercore ISI upped their price objective on eBay from $47.00 to $53.00 and gave the stock an “in-line” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $57.67.

eBay Trading Up 0.3 %

Shares of EBAY stock opened at $65.38 on Friday. eBay Inc. has a 12-month low of $37.17 and a 12-month high of $66.23. The firm has a 50 day moving average price of $59.52 and a two-hundred day moving average price of $54.89. 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 company has a market capitalization of $32.82 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 2.45 and a beta of 1.32.

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

eBay Dividend Announcement

The firm also recently announced 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 1.65%. eBay’s payout ratio is presently 21.51%.

Insider Activity at eBay

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

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.