Procyon Advisors LLC Takes Position in eBay Inc. (NASDAQ:EBAY)

Procyon Advisors LLC acquired a new position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,340 shares of the e-commerce company's stock, valued at approximately $1,039,000.

Other hedge funds also recently made changes to their positions in the company. Hudson Capital Management LLC boosted its holdings in eBay by 0.9% during the 1st quarter. Hudson Capital Management LLC now owns 77,394 shares of the e-commerce company's stock valued at $5,242,000 after acquiring an additional 671 shares during the period. Generali Investments Management Co LLC grew its stake in shares of eBay by 253.7% in the first quarter. Generali Investments Management Co LLC now owns 39,406 shares of the e-commerce company's stock worth $2,669,000 after purchasing an additional 28,264 shares during the last quarter. Vest Financial LLC purchased a new stake in eBay in the 1st quarter worth approximately $44,310,000. Retireful LLC bought a new position in shares of eBay during the first quarter valued at approximately $299,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in eBay by 15.6% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,813 shares of the e-commerce company's stock worth $191,000 after acquiring an additional 380 shares during the period. 87.48% of the stock is owned by institutional investors.

eBay Stock Performance

Shares of NASDAQ EBAY traded down $0.78 during midday trading on Wednesday, reaching $77.99. 4,500,103 shares of the stock were exchanged, compared to its average volume of 4,985,833. The firm has a market cap of $35.95 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 2.22 and a beta of 1.27. eBay Inc. has a twelve month low of $51.72 and a twelve month high of $79.84. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a 50-day simple moving average of $69.23 and a two-hundred day simple moving average of $67.01.

eBay (NASDAQ:EBAY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The e-commerce company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.34 by $0.04. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.55 billion. eBay had a return on equity of 30.97% and a net margin of 19.68%. The firm's revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 EPS. As a group, analysts anticipate that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 1.49%. eBay's dividend payout ratio is presently 27.62%.

Analyst Ratings Changes

Several brokerages have commented on EBAY. Sanford C. Bernstein lowered shares of eBay from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $70.00 to $65.00 in a report on Tuesday, April 22nd. TD Securities raised their price objective on shares of eBay from $62.00 to $64.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Bank of America reduced their target price on eBay from $72.00 to $71.00 and set a "neutral" rating on the stock in a report on Thursday, February 27th. BMO Capital Markets increased their price objective on eBay from $59.00 to $63.00 and gave the stock a "market perform" rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company boosted their target price on shares of eBay from $62.00 to $63.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $67.73.

Insider Activity

In other eBay news, CFO Stephen J. Priest sold 1,167 shares of the firm's stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $66.21, for a total transaction of $77,267.07. Following the completion of the sale, the chief financial officer now owns 65,080 shares of the company's stock, valued at $4,308,946.80. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cornelius Boone sold 3,958 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total value of $265,423.48. Following the completion of the transaction, the senior vice president now directly owns 94,392 shares in the company, valued at approximately $6,329,927.52. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 283,635 shares of company stock valued at $19,872,559. 0.64% of the stock is currently owned by insiders.

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.