Contravisory Investment Management Inc. grew its holdings in shares of eBay Inc. (NASDAQ:EBAY – Free Report) by 262.9% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 12,777 shares of the e-commerce company’s stock after purchasing an additional 9,256 shares during the quarter. Contravisory Investment Management Inc.’s holdings in eBay were worth $1,113,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Mediolanum International Funds Ltd increased its stake in shares of eBay by 44.2% in the 2nd quarter. Mediolanum International Funds Ltd now owns 19,180 shares of the e-commerce company’s stock valued at $1,415,000 after acquiring an additional 5,877 shares in the last quarter. Franklin Resources Inc. boosted its stake in eBay by 1.7% during the second quarter. Franklin Resources Inc. now owns 930,951 shares of the e-commerce company’s stock worth $69,319,000 after acquiring an additional 15,422 shares in the last quarter. Mufg Securities Americas Inc. boosted its stake in eBay by 20.5% during the second quarter. Mufg Securities Americas Inc. now owns 10,217 shares of the e-commerce company’s stock worth $761,000 after acquiring an additional 1,738 shares in the last quarter. AlphaCore Capital LLC grew its holdings in eBay by 304.0% in the second quarter. AlphaCore Capital LLC now owns 1,200 shares of the e-commerce company’s stock worth $89,000 after purchasing an additional 903 shares during the period. Finally, Prudential Financial Inc. grew its holdings in eBay by 34.6% in the second quarter. Prudential Financial Inc. now owns 366,862 shares of the e-commerce company’s stock worth $27,317,000 after purchasing an additional 94,387 shares during the period. Institutional investors and hedge funds own 87.48% of the company’s stock.
eBay Stock Up 1.0%
eBay stock opened at $89.85 on Tuesday. The firm has a market capitalization of $40.25 billion, a price-to-earnings ratio of 20.66, a price-to-earnings-growth ratio of 1.86 and a beta of 1.38. The firm’s fifty day moving average price is $89.73 and its two-hundred day moving average price is $88.44. eBay Inc. has a 1-year low of $58.71 and a 1-year high of $101.15. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.30.
eBay Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Friday, March 6th were issued a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.24 dividend on an annualized basis and a yield of 1.4%. This is an increase from eBay’s previous quarterly dividend of $0.29. eBay’s dividend payout ratio is presently 28.51%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on EBAY shares. Daiwa Securities Group upped their price objective on shares of eBay from $84.00 to $90.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Morgan Stanley restated an “overweight” rating and issued a $119.00 target price on shares of eBay in a research note on Thursday, February 19th. Jefferies Financial Group decreased their target price on eBay from $65.00 to $60.00 and set an “underperform” rating for the company in a research report on Monday, February 23rd. BMO Capital Markets reaffirmed an “outperform” rating and set a $120.00 price target on shares of eBay in a research note on Thursday, February 19th. Finally, TD Cowen reiterated a “hold” rating on shares of eBay in a report on Wednesday, February 18th. Fourteen investment analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, eBay presently has an average rating of “Hold” and an average target price of $97.97.
Get Our Latest Analysis on EBAY
Insider Transactions at eBay
In other news, SVP Cornelius Boone sold 16,685 shares of the firm’s stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $92.44, for a total value of $1,542,361.40. Following the transaction, the senior vice president owned 94,479 shares in the company, valued at $8,733,638.76. This trade represents a 15.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Mazen Rawashdeh sold 23,167 shares of eBay stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $93.59, for a total value of $2,168,199.53. Following the transaction, the senior vice president directly owned 28,915 shares in the company, valued at approximately $2,706,154.85. The trade was a 44.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 87,280 shares of company stock valued at $8,067,074 over the last ninety days. 0.64% of the stock is currently owned by insiders.
About eBay
eBay Inc is a global e-commerce company that operates an online marketplace connecting individual consumers and businesses for the sale and purchase of new, used and collectible goods. Founded in 1995 by Pierre Omidyar and headquartered in San Jose, California, eBay grew from its early auction-style site into a diversified platform offering both auction-format listings and fixed-price “Buy It Now” transactions. The company completed an initial public offering in the late 1990s and has since evolved its platform and services to support a broad range of product categories and buyer preferences.
The company’s core business centers on its marketplace platform, which provides listing, search and transaction capabilities for millions of items across consumer goods, electronics, fashion, collectibles and more.
Further Reading
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