Wedge Capital Management L L P NC Takes $39.34 Million Position in eBay Inc. (NASDAQ:EBAY)

Wedge Capital Management L L P NC purchased a new position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 580,807 shares of the e-commerce company's stock, valued at approximately $39,338,000. Wedge Capital Management L L P NC owned about 0.12% of eBay as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. City Center Advisors LLC raised its holdings in shares of eBay by 9.2% during the first quarter. City Center Advisors LLC now owns 4,728 shares of the e-commerce company's stock valued at $320,000 after acquiring an additional 400 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in eBay by 5.9% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 35,445 shares of the e-commerce company's stock valued at $2,401,000 after purchasing an additional 1,960 shares during the last quarter. Wedmont Private Capital lifted its holdings in eBay by 6.9% in the 1st quarter. Wedmont Private Capital now owns 9,195 shares of the e-commerce company's stock valued at $594,000 after purchasing an additional 590 shares in the last quarter. UMB Bank n.a. boosted its stake in eBay by 5.3% during the 1st quarter. UMB Bank n.a. now owns 6,687 shares of the e-commerce company's stock worth $453,000 after purchasing an additional 338 shares during the last quarter. Finally, TB Alternative Assets Ltd. acquired a new stake in eBay during the 1st quarter worth $4,315,000. 87.48% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at eBay

In related news, CEO Jamie Iannone sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $69.83, for a total value of $698,300.00. Following the sale, the chief executive officer now owns 570,754 shares of the company's stock, valued at $39,855,751.82. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Julie A. Loeger sold 92,895 shares of eBay 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 completion of the transaction, the senior vice president now 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 three months, insiders sold 280,650 shares of company stock worth $19,637,729. Company insiders own 0.64% of the company's stock.

Wall Street Analysts Forecast Growth

EBAY has been the topic of several research reports. TD Securities raised their price target on shares of eBay from $62.00 to $64.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Wells Fargo & Company increased their price objective on shares of eBay from $62.00 to $63.00 and gave the company an "equal weight" rating in a report on Thursday, May 1st. Truist Financial boosted their target price on eBay from $62.00 to $68.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Sanford C. Bernstein lowered eBay from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $70.00 to $65.00 in a research report on Tuesday, April 22nd. Finally, Bank of America cut their price target on eBay from $72.00 to $71.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Two equities 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 given a strong buy rating to the company. According to MarketBeat.com, eBay currently has a consensus rating of "Hold" and a consensus target price of $67.65.

eBay Trading Up 1.0%

Shares of EBAY stock traded up $0.75 on Monday, hitting $79.36. The stock had a trading volume of 4,877,205 shares, compared to its average volume of 4,976,570. The company's 50 day moving average price is $68.74 and its 200-day moving average price is $66.82. eBay Inc. has a 1 year low of $51.72 and a 1 year high of $79.65. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $36.58 billion, a P/E ratio of 19.94, a P/E/G ratio of 2.22 and a beta of 1.27.

eBay (NASDAQ:EBAY - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04. The business had revenue of $2.59 billion for the quarter, compared to analysts' expectations of $2.55 billion. eBay had a net margin of 19.68% and a return on equity of 30.97%. The business's quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.25 earnings per share. Analysts anticipate that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend is Friday, May 30th. eBay's payout ratio is currently 27.62%.

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.