Pzena Investment Management LLC Takes Position in eBay Inc. (NASDAQ:EBAY)

Pzena Investment Management LLC purchased a new position in eBay Inc. (NASDAQ:EBAY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,860 shares of the e-commerce company's stock, valued at approximately $261,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kingsview Wealth Management LLC bought a new position in shares of eBay in the first quarter worth approximately $3,464,000. Graypoint LLC increased its position in shares of eBay by 19.8% in the first quarter. Graypoint LLC now owns 5,127 shares of the e-commerce company's stock worth $347,000 after purchasing an additional 848 shares during the last quarter. Trust Investment Advisors bought a new position in shares of eBay in the first quarter worth approximately $231,000. Larson Financial Group LLC increased its position in shares of eBay by 18.9% in the first quarter. Larson Financial Group LLC now owns 3,842 shares of the e-commerce company's stock worth $260,000 after purchasing an additional 612 shares during the last quarter. Finally, Sage Mountain Advisors LLC bought a new position in eBay during the first quarter valued at approximately $238,000. 87.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EBAY has been the topic of a number of recent research reports. Cfra Research upgraded shares of eBay to a "moderate buy" rating in a research report on Thursday, June 5th. Wedbush reiterated a "neutral" rating and set a $72.00 price target on shares of eBay in a research report on Wednesday, June 11th. Wells Fargo & Company increased their price target on shares of eBay from $63.00 to $66.00 and gave the company an "equal weight" rating in a research report on Monday, June 30th. JPMorgan Chase & Co. increased their price target on shares of eBay from $66.00 to $68.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. Finally, Sanford C. Bernstein lowered eBay from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $70.00 to $65.00 in a research note on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $68.12.

eBay Stock Up 1.8%

EBAY traded up $1.35 during trading on Friday, reaching $78.14. The stock had a trading volume of 6,744,529 shares, compared to its average volume of 5,065,884. eBay Inc. has a one year low of $53.10 and a one year high of $79.84. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.16. The stock's 50 day moving average is $74.96 and its two-hundred day moving average is $69.34. The company has a market capitalization of $36.02 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 2.14 and a beta of 1.26.

eBay (NASDAQ:EBAY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.04. eBay had a return on equity of 36.60% and a net margin of 19.78%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the company earned $1.25 earnings per share. The company's revenue was up 1.1% on a year-over-year basis. As a group, analysts expect that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 1.48%. eBay's payout ratio is 27.62%.

Insiders Place Their Bets

In related news, SVP Jordan Douglas Bradle Sweetnam sold 22,206 shares of eBay stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $77.90, for a total value of $1,729,847.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Cornelius Boone sold 2,985 shares of eBay stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $78.67, for a total value of $234,829.95. Following the completion of the sale, the senior vice president owned 92,053 shares of the company's stock, valued at $7,241,809.51. The trade was a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 347,222 shares of company stock valued at $25,143,522 over the last quarter. Corporate insiders own 0.64% of the company's stock.

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.