eBay Inc. (NASDAQ:EBAY) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its ownership of eBay by 12.9%, acquiring 98,398 shares and bringing its total holdings to 863,273 shares valued at approximately $58.5 million.
• Analysts have mixed views on eBay, with target price adjustments ranging from $66.00 to $102.00, reflecting a consensus rating of "Hold" and an average target price of $78.19.
• eBay announced a quarterly dividend of $0.29 per share, set to be paid on September 12th, with a current yield of 1.2%.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in eBay Inc. (NASDAQ:EBAY - Free Report) by 12.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 863,273 shares of the e-commerce company's stock after acquiring an additional 98,398 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.19% of eBay worth $58,469,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in EBAY. Ontario Teachers Pension Plan Board acquired a new stake in eBay during the 1st quarter worth $723,000. ASR Vermogensbeheer N.V. acquired a new position in shares of eBay during the 1st quarter worth approximately $5,712,000. Citizens Financial Group Inc. RI boosted its holdings in shares of eBay by 41.7% during the 1st quarter. Citizens Financial Group Inc. RI now owns 166,953 shares of the e-commerce company's stock worth $11,308,000 after purchasing an additional 49,096 shares during the last quarter. Hemington Wealth Management boosted its holdings in shares of eBay by 19.6% during the 1st quarter. Hemington Wealth Management now owns 1,618 shares of the e-commerce company's stock worth $109,000 after purchasing an additional 265 shares during the last quarter. Finally, Nicholas Hoffman & Company LLC. boosted its holdings in shares of eBay by 12.8% during the 1st quarter. Nicholas Hoffman & Company LLC. now owns 8,867 shares of the e-commerce company's stock worth $601,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors and hedge funds own 87.48% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EBAY shares. Daiwa Capital Markets upgraded eBay from a "neutral" rating to a "buy" rating and set a $70.00 target price on the stock in a report on Monday, May 12th. Arete raised shares of eBay from a "sell" rating to a "neutral" rating and set a $91.00 price target on the stock in a research report on Thursday, August 7th. Truist Financial boosted their price target on shares of eBay from $62.00 to $68.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Benchmark boosted their price target on shares of eBay from $78.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, BMO Capital Markets raised shares of eBay from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $70.00 to $102.00 in a research report on Thursday, July 31st. Two research 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $78.19.

eBay Stock Up 1.8%

eBay stock traded up $1.76 during mid-day trading on Tuesday, hitting $97.06. The company had a trading volume of 5,688,708 shares, compared to its average volume of 5,617,893. The stock has a market cap of $44.36 billion, a price-to-earnings ratio of 21.38, a PEG ratio of 2.25 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 quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.05. The business has a fifty day moving average of $79.84 and a 200 day moving average of $71.93.

eBay (NASDAQ:EBAY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The e-commerce company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates 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 firm posted $1.18 earnings per share. On average, sell-side analysts expect that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Announces Dividend

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

Insider Buying and Selling at eBay

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

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.