Edgestream Partners L.P. Purchases 25,934 Shares of eBay Inc. (NASDAQ:EBAY)

Edgestream Partners L.P. lifted its position in eBay Inc. (NASDAQ:EBAY - Free Report) by 488.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,239 shares of the e-commerce company's stock after buying an additional 25,934 shares during the period. Edgestream Partners L.P.'s holdings in eBay were worth $2,116,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Orion Capital Management LLC purchased a new stake in eBay during the fourth quarter worth $27,000. Abound Financial LLC purchased a new position in eBay during the first quarter valued at $29,000. Pinney & Scofield Inc. purchased a new position in eBay during the fourth quarter valued at $31,000. Itau Unibanco Holding S.A. purchased a new position in eBay during the fourth quarter valued at $33,000. Finally, Transce3nd LLC purchased a new position in eBay during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 87.48% of the company's stock.

eBay Price Performance

eBay stock traded up $1.35 during mid-day trading on Friday, hitting $78.14. The company's stock had a trading volume of 6,744,529 shares, compared to its average volume of 5,065,885. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. eBay Inc. has a twelve month low of $53.10 and a twelve month high of $79.84. The stock has a market capitalization of $36.02 billion, a P/E ratio of 18.60, a P/E/G ratio of 2.14 and a beta of 1.26. The stock's fifty day moving average price is $75.13 and its two-hundred day moving average price is $69.45.

eBay (NASDAQ:EBAY - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. eBay had a net margin of 19.78% and a return on equity of 36.60%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. Research analysts forecast that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Announces Dividend

The business also recently announced 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 dividend payout ratio (DPR) is currently 27.62%.

Insider Buying and Selling

In other news, SVP Julie A. Loeger sold 92,895 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $72.06, for a total transaction of $6,694,013.70. Following the sale, the senior vice president directly owned 123,282 shares in the company, valued at approximately $8,883,700.92. The trade was a 42.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jamie Iannone sold 10,974 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were 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 in the company, valued at $23,228,813.25. This trade represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 347,222 shares of company stock worth $25,143,522 over the last ninety days. Company insiders own 0.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EBAY. Robert W. Baird lifted their price target on shares of eBay from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Thursday, July 10th. Cfra Research raised eBay to a "moderate buy" rating in a research report on Thursday, June 5th. Daiwa Capital Markets upgraded eBay from a "neutral" rating to a "buy" rating and set a $70.00 price target on the stock in a research note on Monday, May 12th. Truist Financial lifted their price objective on eBay from $62.00 to $68.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Finally, Cantor Fitzgerald boosted their price objective on eBay from $65.00 to $69.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $68.12.

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.