Bleakley Financial Group LLC Sells 33,390 Shares of eBay Inc. (NASDAQ:EBAY)

Bleakley Financial Group LLC trimmed its holdings in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 68.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,747 shares of the e-commerce company's stock after selling 33,390 shares during the period. Bleakley Financial Group LLC's holdings in eBay were worth $1,067,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Commonwealth Equity Services LLC increased its position in eBay by 0.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 50,904 shares of the e-commerce company's stock worth $3,154,000 after purchasing an additional 238 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in shares of eBay by 9.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 29,937 shares of the e-commerce company's stock worth $1,855,000 after buying an additional 2,589 shares in the last quarter. Cibc World Markets Corp grew its holdings in shares of eBay by 18.5% during the fourth quarter. Cibc World Markets Corp now owns 79,503 shares of the e-commerce company's stock worth $4,925,000 after buying an additional 12,391 shares in the last quarter. Flagship Wealth Advisors LLC purchased a new stake in shares of eBay during the fourth quarter worth about $61,000. Finally, Tocqueville Asset Management L.P. grew its stake in eBay by 0.7% in the 4th quarter. Tocqueville Asset Management L.P. now owns 83,007 shares of the e-commerce company's stock worth $5,142,000 after acquiring an additional 611 shares during the period. 87.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EBAY has been the subject of a number of recent analyst reports. Piper Sandler lifted their price objective on eBay from $70.00 to $74.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Stifel Nicolaus lifted their price target on eBay from $61.00 to $62.00 and gave the company a "hold" rating in a report on Thursday, May 1st. TD Securities boosted their target price on shares of eBay from $62.00 to $64.00 and gave the company a "hold" rating in a report on Thursday, May 1st. JMP Securities reissued a "market perform" rating on shares of eBay in a research note on Thursday, May 1st. Finally, Daiwa Capital Markets raised shares of eBay from a "neutral" rating to a "buy" rating and set a $70.00 price objective for the company in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, eBay has a consensus rating of "Hold" and a consensus price target of $68.12.

Insider Activity

In related news, SVP Jordan Douglas Bradle Sweetnam sold 22,206 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $77.90, for a total value of $1,729,847.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jamie Iannone sold 10,974 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $75.75, for a total value of $831,280.50. Following the completion of the sale, the chief executive officer owned 306,651 shares of the company's stock, valued at $23,228,813.25. This represents a 3.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 347,222 shares of company stock valued at $25,143,522 over the last three months. 0.64% of the stock is currently owned by insiders.

eBay Stock Up 1.2%

Shares of NASDAQ EBAY traded up $0.95 during mid-day trading on Friday, reaching $77.74. The company had a trading volume of 687,848 shares, compared to its average volume of 5,036,459. 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 twelve month low of $53.10 and a twelve month high of $79.84. The stock's 50 day moving average is $74.96 and its 200-day moving average is $69.34. The stock has a market capitalization of $35.84 billion, a PE ratio of 18.50, a price-to-earnings-growth ratio of 2.15 and a beta of 1.26.

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

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Friday, May 30th. eBay's dividend payout ratio is currently 27.62%.

eBay 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.