Contravisory Investment Management Inc. Purchases Shares of 3,969 eBay Inc. (NASDAQ:EBAY)

Contravisory Investment Management Inc. bought a new stake in eBay Inc. (NASDAQ:EBAY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,969 shares of the e-commerce company's stock, valued at approximately $269,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameriprise Financial Inc. raised its position in shares of eBay by 12.4% during the 4th quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company's stock worth $1,765,148,000 after acquiring an additional 3,149,934 shares in the last quarter. Independent Franchise Partners LLP increased its stake in eBay by 25.6% in the fourth quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company's stock valued at $692,517,000 after purchasing an additional 2,277,839 shares during the last quarter. Marshall Wace LLP raised its holdings in eBay by 304.2% during the fourth quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company's stock worth $130,421,000 after purchasing an additional 1,584,404 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in eBay during the fourth quarter worth approximately $96,214,000. Finally, Boston Partners lifted its position in shares of eBay by 35.2% during the 4th quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company's stock worth $362,823,000 after buying an additional 1,524,691 shares during the last quarter. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on EBAY. Wells Fargo & Company lifted their price target on shares of eBay from $62.00 to $63.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 1st. Piper Sandler lifted their target price on eBay from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. UBS Group boosted their target price on eBay from $72.00 to $73.00 and gave the company a "neutral" rating in a report on Tuesday, April 29th. Barclays upped their target price on eBay from $72.00 to $77.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, Stifel Nicolaus lifted their price target on eBay from $61.00 to $62.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $67.65.

Insiders Place Their Bets

In other news, CEO Jamie Iannone sold 10,000 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $69.83, for a total value of $698,300.00. Following the sale, the chief executive officer now directly owns 570,754 shares in the company, valued at $39,855,751.82. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Julie A. Loeger sold 92,895 shares of eBay stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $72.06, for a total value of $6,694,013.70. Following the sale, the senior vice president now owns 123,282 shares of the company's stock, valued at approximately $8,883,700.92. This represents a 42.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 280,650 shares of company stock worth $19,637,729. 0.64% of the stock is owned by corporate insiders.

eBay Price Performance

EBAY stock traded up $0.64 on Thursday, reaching $77.74. 6,642,217 shares of the company's stock were exchanged, compared to its average volume of 4,974,739. The stock has a fifty day moving average of $68.32 and a 200-day moving average of $66.51. The firm has a market cap of $35.84 billion, a PE ratio of 19.53, a P/E/G ratio of 2.22 and a beta of 1.30. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. eBay Inc. has a twelve month low of $51.72 and a twelve month high of $78.64.

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

eBay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors 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 yield of 1.49%. eBay's dividend payout ratio is presently 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.