eBay Inc. (NASDAQ:EBAY) Shares Bought by Assetmark Inc.

Key Points

• Assetmark Inc. has increased its holdings in eBay Inc. by 11.6% during the first quarter, bringing its total shares owned to 108,696 valued at approximately $7.36 million.
• eBay's stock price target has been positively adjusted by several analysts, with Deutsche Bank raising it from $75.00 to $90.00 and maintaining a "buy" rating.
• In a significant insider transaction, SVP Julie A. Loeger sold 127,070 shares of eBay, equating to a 50.76% decrease in her ownership of the stock.

Assetmark Inc. grew its position in eBay Inc. (NASDAQ:EBAY - Free Report) by 11.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 108,696 shares of the e-commerce company's stock after purchasing an additional 11,291 shares during the quarter. Assetmark Inc.'s holdings in eBay were worth $7,362,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of EBAY. Abound Financial LLC acquired a new position in shares of eBay during the 1st quarter valued at $29,000. Orion Capital Management LLC acquired a new position in eBay during the fourth quarter worth $27,000. Pinney & Scofield Inc. acquired a new position in eBay during the fourth quarter worth $31,000. Itau Unibanco Holding S.A. bought a new position in eBay during the fourth quarter valued at about $33,000. Finally, Sierra Ocean LLC grew its position in eBay by 84.9% during the first quarter. Sierra Ocean LLC now owns 538 shares of the e-commerce company's stock valued at $36,000 after buying an additional 247 shares during the period. 87.48% of the stock is owned by institutional investors.

eBay Price Performance

Shares of EBAY traded up $14.43 during mid-day trading on Thursday, hitting $91.99. 10,101,916 shares of the stock were exchanged, compared to its average volume of 5,496,203. The firm has a 50-day moving average of $76.63 and a two-hundred day moving average of $70.31. The company has a market cap of $42.41 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 2.19 and a beta of 1.26. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.17 and a current ratio of 1.17. eBay Inc. has a 52-week low of $53.74 and a 52-week high of $92.30.

eBay (NASDAQ:EBAY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.07. The company had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.64 billion. eBay had a return on equity of 36.60% and a net margin of 19.78%. The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 earnings per share. On average, equities analysts predict that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.26%. eBay's dividend payout ratio is presently 27.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EBAY. JPMorgan Chase & Co. increased their target price on shares of eBay from $66.00 to $68.00 and gave the stock a "neutral" rating in a research report on Friday, July 11th. Wall Street Zen raised shares of eBay from a "hold" rating to a "buy" rating in a research note on Saturday, April 26th. BMO Capital Markets raised shares of eBay from a "market perform" rating to an "outperform" rating and raised their target price for the company from $70.00 to $102.00 in a research note on Thursday. Truist Financial raised their target price on shares of eBay from $62.00 to $68.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company set a $84.00 price target on shares of eBay in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, eBay has an average rating of "Hold" and a consensus price target of $76.73.

Insider Transactions at eBay

In related news, SVP Julie A. Loeger sold 127,070 shares of eBay stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $69.43, for a total transaction of $8,822,470.10. Following the completion of the transaction, the senior vice president directly owned 123,282 shares in the company, valued at approximately $8,559,469.26. This trade represents a 50.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $77.38, for a total value of $1,825,935.86. Following the completion of the sale, the senior vice president directly owned 44,413 shares in the company, valued at approximately $3,436,677.94. The trade was a 34.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 347,222 shares of company stock worth $25,143,522 over the last three months. 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.