Invesco Ltd. Increases Stake in eBay Inc. (NASDAQ:EBAY)

Key Points

• Invesco Ltd. increased its stake in eBay Inc. by 8.0%, now holding 8,441,396 shares valued at approximately $571.74 million.
• CEO Jamie Iannone recently sold 10,974 shares of eBay stock, indicating a 3.46% decrease in his position, while insider selling has amounted to $22 million in the past 90 days.
• eBay recently announced a quarterly dividend of $0.29 per share, with a planned payment date of September 12th and a dividend yield of 1.2%.

Invesco Ltd. increased its stake in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 8.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,441,396 shares of the e-commerce company's stock after purchasing an additional 627,823 shares during the period. Invesco Ltd. owned approximately 1.83% of eBay worth $571,736,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in EBAY. Orion Capital Management LLC purchased a new position in shares of eBay in the fourth quarter valued at approximately $27,000. Abound Financial LLC purchased a new position in shares of eBay in the first quarter valued at approximately $29,000. Pinney & Scofield Inc. purchased a new position in shares of eBay in the fourth quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in eBay during the 4th quarter worth approximately $33,000. Finally, Transce3nd LLC acquired a new position in eBay during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 87.48% of the company's stock.

Analyst Upgrades and Downgrades

EBAY has been the subject of several recent analyst reports. Barclays restated an "overweight" rating and set a $92.00 price objective (up previously from $77.00) on shares of eBay in a research report on Thursday, July 31st. JMP Securities restated a "market perform" rating on shares of eBay in a research report on Thursday, May 1st. BMO Capital Markets upgraded shares of eBay from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $70.00 to $102.00 in a research report on Thursday, July 31st. Wall Street Zen downgraded shares of eBay from a "buy" rating to a "hold" rating in a research report on Sunday. Finally, Morgan Stanley boosted their price objective on shares of eBay from $81.00 to $89.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $78.19.

Insider Activity

In other eBay news, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $77.38, for a total value of $1,825,935.86. Following the transaction, the senior vice president directly owned 44,413 shares in the company, valued at approximately $3,436,677.94. This represents a 34.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cornelius Boone sold 2,985 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $78.67, for a total transaction of $234,829.95. Following the completion of the transaction, the senior vice president owned 92,053 shares in the company, valued at approximately $7,241,809.51. This trade represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 276,104 shares of company stock valued at $22,025,676 in the last 90 days. Company insiders own 0.64% of the company's stock.

eBay Price Performance

Shares of NASDAQ:EBAY traded up $1.76 on Tuesday, reaching $97.06. 5,688,721 shares of the company were exchanged, compared to its average volume of 6,630,548. The firm has a market cap of $44.36 billion, a price-to-earnings ratio of 21.38, a price-to-earnings-growth ratio of 2.30 and a beta of 1.27. eBay Inc. has a 1-year low of $54.80 and a 1-year high of $97.19. The company has a 50-day moving average of $80.26 and a 200-day moving average of $72.11. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.05.

eBay (NASDAQ:EBAY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The e-commerce company reported $1.37 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.07. The firm had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.64 billion. eBay had a net margin of 20.86% and a return on equity of 38.97%. The firm's revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.18 EPS. Equities analysts forecast that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Announces Dividend

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

eBay Company 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.