TB Alternative Assets Ltd. Makes New Investment in eBay Inc. (NASDAQ:EBAY)

TB Alternative Assets Ltd. acquired a new stake in eBay Inc. (NASDAQ:EBAY - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 63,703 shares of the e-commerce company's stock, valued at approximately $4,315,000. eBay accounts for approximately 1.0% of TB Alternative Assets Ltd.'s investment portfolio, making the stock its 25th largest holding.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in eBay in the fourth quarter valued at $27,000. Orion Capital Management LLC acquired a new stake in shares of eBay during the 4th quarter worth about $27,000. Pinney & Scofield Inc. bought a new position in eBay during the 4th quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new position in eBay in the fourth quarter valued at about $33,000. Finally, Transce3nd LLC bought a new stake in eBay during the fourth quarter worth about $36,000. 87.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EBAY. Daiwa Capital Markets raised 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. Wedbush reissued a "neutral" rating and set a $72.00 price objective on shares of eBay in a report on Wednesday. Truist Financial increased their price target on shares of eBay from $62.00 to $68.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. JMP Securities restated a "market perform" rating on shares of eBay in a research report on Thursday, May 1st. Finally, Evercore ISI upped their price objective on eBay from $63.00 to $69.00 and gave the stock an "in-line" rating in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $67.73.

Insider Buying and Selling

In other news, SVP Cornelius Boone sold 2,985 shares of eBay stock in a transaction that occurred on Friday, June 6th. The stock was 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 now directly owns 92,053 shares in the company, valued at approximately $7,241,809.51. The trade was a 3.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Julie A. Loeger sold 92,895 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were 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 directly owns 123,282 shares of the company's stock, valued at $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 90 days, insiders sold 283,635 shares of company stock worth $19,872,559. Company insiders own 0.64% of the company's stock.

eBay Stock Down 1.2%

EBAY stock traded down $0.91 during mid-day trading on Wednesday, hitting $77.86. 4,919,480 shares of the company were exchanged, compared to its average volume of 4,991,361. The firm has a market cap of $35.89 billion, a P/E ratio of 19.56, a P/E/G ratio of 2.22 and a beta of 1.27. eBay Inc. has a 1-year low of $51.72 and a 1-year high of $79.84. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The firm's 50 day simple moving average is $69.23 and its 200 day simple moving average is $67.01.

eBay (NASDAQ:EBAY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share for the quarter, topping 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 return on equity of 30.97% and a net margin of 19.68%. The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.25 EPS. On average, sell-side analysts predict that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Announces Dividend

The firm also recently declared 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. This represents a $1.16 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Friday, May 30th. eBay's payout ratio is currently 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.