Truist Financial Corp Grows Stock Position in eBay Inc. (NASDAQ:EBAY)

Truist Financial Corp increased its stake in eBay Inc. (NASDAQ:EBAY) by 12.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,267,794 shares of the e-commerce company’s stock after acquiring an additional 136,317 shares during the period. Truist Financial Corp owned about 0.27% of eBay worth $85,868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EBAY. Jones Financial Companies Lllp increased its stake in eBay by 35.1% in the 4th quarter. Jones Financial Companies Lllp now owns 8,121 shares of the e-commerce company’s stock worth $503,000 after purchasing an additional 2,110 shares during the period. Proficio Capital Partners LLC bought a new position in shares of eBay in the fourth quarter worth approximately $8,644,000. Oppenheimer & Co. Inc. increased its stake in shares of eBay by 5.7% in the fourth quarter. Oppenheimer & Co. Inc. now owns 4,150 shares of the e-commerce company’s stock worth $257,000 after buying an additional 224 shares during the period. Commonwealth Equity Services LLC raised its holdings in eBay by 0.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 50,904 shares of the e-commerce company’s stock valued at $3,154,000 after buying an additional 238 shares during the last quarter. Finally, Norges Bank bought a new stake in eBay during the 4th quarter valued at $40,805,000. Institutional investors own 87.48% of the company’s stock.

eBay Stock Up 0.7%

EBAY stock opened at $76.34 on Friday. The business has a 50 day moving average of $73.53 and a 200 day moving average of $68.56. The firm has a market cap of $35.19 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 2.13 and a beta of 1.26. eBay Inc. has a twelve month low of $52.15 and a twelve month high of $79.84. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.16.

eBay (NASDAQ:EBAY) last released its earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. eBay had a return on equity of 36.60% and a net margin of 19.78%. The firm had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same period in the prior year, the firm posted $1.25 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, research analysts forecast that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were paid a $0.29 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 1.52%. eBay’s dividend payout ratio is presently 27.62%.

Insider Activity

In related news, SVP Cornelius Boone sold 2,985 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $78.67, for a total value of $234,829.95. Following the completion of the transaction, the senior vice president directly owned 92,053 shares in the company, valued at $7,241,809.51. The trade was a 3.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jamie Iannone sold 10,974 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $75.75, for a total value of $831,280.50. Following the sale, the chief executive officer owned 306,651 shares in the company, valued at approximately $23,228,813.25. This represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 326,183 shares of company stock worth $23,490,942. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on EBAY shares. Daiwa Capital Markets upgraded eBay from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Monday, May 12th. Daiwa America upgraded eBay from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 12th. Susquehanna boosted their target price on eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. TD Securities upped their target price on eBay from $62.00 to $64.00 and gave the company a “hold” rating in a report on Thursday, May 1st. Finally, Wells Fargo & Company raised their price target on eBay from $63.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Monday, June 30th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, eBay has a consensus rating of “Hold” and an average target price of $67.85.

eBay Company 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.