Bank of America Corp DE Purchases New Stake in eBay Inc. $EBAY

Key Points

• Bank of America acquired 3.63 million eBay shares worth approximately $405.2 million during the second quarter, giving it a 0.81% stake. Institutional investors collectively own 87.48% of eBay.
• Analyst sentiment is mixed, with eBay carrying a consensus “Hold” rating and an average price target of $117.24. Recent targets range from $106 to $145.
• eBay reported strong quarterly results, with revenue up 14.8% year over year to $3.13 billion and EPS of $1.60, exceeding estimates. The company also declared a quarterly dividend of $0.31 per share, representing a 1.1% yield.

Bank of America Corp DE purchased a new position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,625,792 shares of the e-commerce company's stock, valued at approximately $405,182,000. Bank of America Corp DE owned approximately 0.81% of eBay at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Birmingham Capital Management Co. Inc. AL acquired a new stake in eBay during the 2nd quarter valued at approximately $648,000. Strategic Global Advisors LLC bought a new position in shares of eBay in the 2nd quarter worth $2,023,000. Freestone Grove Partners LP acquired a new position in shares of eBay during the second quarter valued at about $2,513,000. Caisse de depot et placement du Quebec acquired a new position in eBay during the 2nd quarter valued at about $45,779,000. Finally, Odyssean LLC grew its holdings in eBay by 44.4% during the second quarter. Odyssean LLC now owns 7,593 shares of the e-commerce company's stock worth $849,000 after buying an additional 2,334 shares in the last quarter. Institutional investors own 87.48% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Piper Sandler reaffirmed an "overweight" rating and set a $133.00 price target (up from $115.00) on shares of eBay in a research report on Thursday, August 6th. BMO Capital Markets set a $145.00 price target on shares of eBay in a research note on Thursday, August 6th. UBS Group lifted their target price on eBay from $107.00 to $120.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Morgan Stanley reaffirmed an "overweight" rating and issued a $127.00 price target on shares of eBay in a report on Thursday, August 6th. Finally, Cantor Fitzgerald dropped their target price on shares of eBay from $110.00 to $106.00 and set a "neutral" rating for the company in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seventeen have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $117.24.

Insider Buying and Selling at eBay

In related news, SVP Jordan Sweetnam sold 1,014 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $101.39, for a total transaction of $102,809.46. Following the completion of the transaction, the senior vice president directly owned 35,546 shares in the company, valued at approximately $3,604,008.94. The trade was a 2.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jamie Iannone sold 11,110 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $108.55, for a total transaction of $1,205,990.50. Following the completion of the transaction, the chief executive officer directly owned 253,211 shares of the company's stock, valued at $27,486,054.05. This represents a 4.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 35,207 shares of company stock worth $3,799,218 over the last quarter. 0.67% of the stock is owned by company insiders.

eBay Price Performance

Shares of EBAY stock opened at $108.03 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.10. The business's fifty day moving average is $108.46 and its 200 day moving average is $104.82. The stock has a market cap of $48.07 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 2.90 and a beta of 1.34. eBay Inc. has a twelve month low of $78.03 and a twelve month high of $119.31.

eBay (NASDAQ:EBAY - Get Free Report) last released its earnings results on Wednesday, August 5th. The e-commerce company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.50 by $0.10. eBay had a return on equity of 47.88% and a net margin of 18.50%.The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the company posted $1.37 earnings per share. The company's revenue for the quarter was up 14.8% compared to the same quarter last year. eBay has set its Q3 2026 guidance at 1.360-1.420 EPS. Research analysts expect that eBay Inc. will post 4.86 EPS for the current fiscal year.

eBay Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Friday, August 28th. eBay's dividend payout ratio (DPR) is currently 25.67%.

About eBay

eBay Inc NASDAQ: EBAY operates a global online marketplace that connects buyers and sellers. Its platform supports the sale of new, used, refurbished and collectible products across categories including electronics, apparel, footwear, home and garden, automotive parts, accessories and trading cards.

The company generates revenue primarily through seller fees and related services, including payments, advertising and shipping solutions. eBay also offers specialized experiences such as eBay Motors and authentication programs designed to help verify eligible luxury goods, sneakers, watches, handbags and collectibles.

Founded in 1995 by Pierre Omidyar, eBay serves customers and sellers in markets around the world.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.