Aviva PLC increased its stake in shares of eBay Inc. (NASDAQ:EBAY) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 220,113 shares of the e-commerce company’s stock after purchasing an additional 3,027 shares during the quarter. Aviva PLC’s holdings in eBay were worth $15,454,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in EBAY. Capital Analysts LLC raised its holdings in eBay by 115.3% in the second quarter. Capital Analysts LLC now owns 394 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 211 shares during the period. Sawyer & Company Inc grew its position in shares of eBay by 515.4% in the 2nd quarter. Sawyer & Company Inc now owns 400 shares of the e-commerce company’s stock valued at $28,000 after acquiring an additional 335 shares during the period. First PREMIER Bank bought a new position in shares of eBay in the 2nd quarter valued at about $35,000. Prestige Wealth Management Group LLC grew its position in shares of eBay by 387.9% in the 1st quarter. Prestige Wealth Management Group LLC now owns 522 shares of the e-commerce company’s stock valued at $32,000 after acquiring an additional 415 shares during the period. Finally, Bogart Wealth LLC grew its position in shares of eBay by 192.2% in the 2nd quarter. Bogart Wealth LLC now owns 637 shares of the e-commerce company’s stock valued at $45,000 after acquiring an additional 419 shares during the period. Institutional investors and hedge funds own 90.78% of the company’s stock.
EBAY has been the subject of a number of research reports. Credit Suisse Group raised their target price on shares of eBay from $80.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, August 9th. Piper Sandler raised their target price on shares of eBay from $79.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, August 27th. Bank of America lifted their price objective on shares of eBay from $70.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, August 26th. Barclays lifted their price objective on shares of eBay from $78.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, August 12th. Finally, Cowen boosted their target price on shares of eBay from $65.00 to $72.00 and gave the company a “market perform” rating in a research report on Monday, August 9th. Twelve analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, eBay presently has an average rating of “Hold” and an average price target of $72.59.
eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Wednesday, August 11th. The e-commerce company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.16. eBay had a net margin of 115.40% and a return on equity of 38.34%. The company had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the firm posted $1.02 EPS. As a group, equities research analysts predict that eBay Inc. will post 3.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 17th. Investors of record on Wednesday, September 1st will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.01%. eBay’s payout ratio is presently 24.57%.
eBay declared that its board has authorized a stock buyback plan on Wednesday, August 11th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the e-commerce company to reacquire up to 6.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
In other news, Director Robert Holmes Swan sold 40,000 shares of the company’s stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $73.15, for a total value of $2,926,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian J. Doerger sold 2,862 shares of the stock in a transaction dated Monday, August 30th. The shares were sold at an average price of $77.69, for a total transaction of $222,348.78. The disclosure for this sale can be found here. Insiders have sold a total of 79,460 shares of company stock worth $5,844,236 in the last quarter. 0.21% of the stock is owned by corporate insiders.
eBay Company Profile
eBay, Inc operates as a commerce company. The company platforms include online marketplace and its localized counterparts, including off-platform businesses in South Korea, Japan, and Turkey, as well as eBay’s suite of mobile apps. The company technologies and services are designed to give buyers choice and a breadth of relevant inventory and to enable sellers worldwide to organize and offer their inventory for sale, virtually anytime and anywhere.
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