580,807 Shares in eBay Inc. (NASDAQ:EBAY) Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC purchased a new stake in eBay Inc. (NASDAQ:EBAY - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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.

Several other institutional investors and hedge funds have also added to or reduced their stakes in EBAY. Ameriprise Financial Inc. lifted its stake in shares of eBay by 12.4% in the 4th quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company's stock valued at $1,765,148,000 after purchasing an additional 3,149,934 shares during the period. Independent Franchise Partners LLP increased its stake in eBay by 25.6% in the fourth quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company's stock valued at $692,517,000 after purchasing an additional 2,277,839 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of eBay by 304.2% in the 4th quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company's stock valued at $130,421,000 after buying an additional 1,584,404 shares during the period. Raymond James Financial Inc. bought a new stake in shares of eBay in the 4th quarter valued at $96,214,000. Finally, Boston Partners raised its stake in eBay by 35.2% during the 4th quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company's stock worth $362,823,000 after buying an additional 1,524,691 shares during the period. Institutional investors and hedge funds own 87.48% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on EBAY. Wedbush restated a "neutral" rating and issued a $72.00 price target on shares of eBay in a report on Wednesday. Wells Fargo & Company upped their price target 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. UBS Group raised their price objective on shares of eBay from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Tuesday, April 29th. Cfra Research upgraded eBay to a "moderate buy" rating in a report on Thursday, June 5th. Finally, Sanford C. Bernstein downgraded 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 note on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $67.73.

Insider Activity at eBay

In related news, SVP Julie A. Loeger sold 127,070 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.43, for a total transaction of $8,822,470.10. Following the sale, the senior vice president now owns 123,282 shares of the company's stock, valued at $8,559,469.26. This trade represents a 50.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jamie Iannone sold 7,500 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $66.35, for a total value of $497,625.00. Following the sale, the chief executive officer now owns 590,108 shares in the company, valued at approximately $39,153,665.80. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 283,635 shares of company stock valued at $19,872,559 over the last ninety days. 0.64% of the stock is owned by corporate insiders.

eBay Price Performance

EBAY stock traded down $0.89 during midday trading on Wednesday, reaching $77.88. The company had a trading volume of 6,244,666 shares, compared to its average volume of 4,991,501. eBay Inc. has a 1-year low of $51.72 and a 1-year high of $79.84. The stock has a 50 day moving average price of $69.23 and a 200-day moving average price of $67.01. 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 company has a market capitalization of $35.90 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 2.22 and a beta of 1.27.

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 (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 analyst estimates of $2.55 billion. eBay had a net margin of 19.68% and a return on equity of 30.97%. The firm's revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. Equities research analysts expect that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 1.49%. eBay's dividend 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.