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eBay Inc. (NASDAQ:EBAY) Shares Bought by iA Global Asset Management Inc.

eBay logo with Retail/Wholesale background

Key Points

  • iA Global Asset Management Inc. significantly increased its holdings in eBay by acquiring an additional 24,722 shares, bringing their total shares to 32,137 and making their stake worth $2.17 million.
  • eBay recently announced a quarterly dividend of $0.29 per share, which will be paid on September 12th, offering a yield of 1.3% based on its current payout ratio of 25.55%.
  • The company's latest earnings report revealed a year-over-year revenue increase of 6.1%, with earnings per share of $1.37 surpassing analysts' expectations, which positions eBay's stock currently at around $92.54.
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iA Global Asset Management Inc. increased its position in eBay Inc. (NASDAQ:EBAY - Free Report) by 333.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,137 shares of the e-commerce company's stock after acquiring an additional 24,722 shares during the period. iA Global Asset Management Inc.'s holdings in eBay were worth $2,177,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Marvin & Palmer Associates Inc. purchased a new stake in eBay during the first quarter valued at approximately $2,958,000. Assenagon Asset Management S.A. raised its holdings in shares of eBay by 0.5% in the first quarter. Assenagon Asset Management S.A. now owns 53,089 shares of the e-commerce company's stock worth $3,596,000 after buying an additional 246 shares during the period. Portolan Capital Management LLC grew its stake in eBay by 210.2% in the fourth quarter. Portolan Capital Management LLC now owns 238,132 shares of the e-commerce company's stock worth $14,752,000 after purchasing an additional 161,372 shares in the last quarter. IFP Advisors Inc grew its stake in eBay by 59.6% in the first quarter. IFP Advisors Inc now owns 3,857 shares of the e-commerce company's stock worth $261,000 after purchasing an additional 1,440 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in eBay by 2.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 79,452 shares of the e-commerce company's stock worth $5,381,000 after purchasing an additional 2,095 shares in the last quarter. Institutional investors own 87.48% of the company's stock.

Insider Activity

In other news, SVP Cornelius Boone sold 2,985 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $78.67, for a total value of $234,829.95. Following the sale, the senior vice president directly owned 92,053 shares in the company, valued at $7,241,809.51. This represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Julie A. Loeger sold 92,895 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $72.06, for a total transaction of $6,694,013.70. Following the completion of the sale, the senior vice president owned 123,282 shares in the company, valued at $8,883,700.92. This represents a 42.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 276,104 shares of company stock valued at $22,025,676. Company insiders own 0.64% of the company's stock.

Analyst Upgrades and Downgrades

EBAY has been the topic of several recent research reports. Citigroup dropped their target price on eBay from $80.00 to $79.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Sanford C. Bernstein lowered eBay from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $70.00 to $65.00 in a research note on Tuesday, April 22nd. Piper Sandler lifted their price objective on eBay from $74.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. Cfra Research upgraded eBay to a "moderate buy" rating in a research report on Thursday, June 5th. Finally, Cowen restated a "hold" rating on shares of eBay in a research report on Tuesday, July 22nd. Two investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $78.19.

Check Out Our Latest Analysis on eBay

eBay Stock Performance

NASDAQ EBAY traded up $0.88 during trading hours on Monday, hitting $94.02. The company had a trading volume of 1,698,263 shares, compared to its average volume of 5,587,220. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.00 and a current ratio of 1.00. eBay Inc. has a 1-year low of $54.80 and a 1-year high of $95.17. The company has a market cap of $42.97 billion, a PE ratio of 20.71, a price-to-earnings-growth ratio of 2.25 and a beta of 1.27. The business has a 50 day moving average of $79.43 and a 200-day moving average of $71.72.

eBay (NASDAQ:EBAY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.07. eBay had a net margin of 20.86% and a return on equity of 38.97%. The business had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the firm earned $1.18 earnings per share. The business's quarterly revenue was up 6.1% compared to the same quarter last year. As a group, equities research analysts expect that eBay Inc. will post 3.86 EPS for the current year.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. eBay's dividend payout ratio is currently 25.55%.

eBay Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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