Ethic Inc. boosted its position in shares of eBay Inc. (NASDAQ:EBAY) by 30.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,541 shares of the e-commerce company’s stock after buying an additional 3,169 shares during the quarter. Ethic Inc.’s holdings in eBay were worth $951,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in EBAY. Oregon Public Employees Retirement Fund raised its stake in shares of eBay by 161.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 141,903 shares of the e-commerce company’s stock worth $9,963,000 after purchasing an additional 87,563 shares in the last quarter. Blackhawk Capital Partners LLC. bought a new position in eBay in the 1st quarter worth approximately $1,043,000. Hamilton Point Investment Advisors LLC grew its holdings in shares of eBay by 1.5% during the 1st quarter. Hamilton Point Investment Advisors LLC now owns 156,768 shares of the e-commerce company’s stock worth $9,600,000 after purchasing an additional 2,279 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of eBay by 14.0% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 387,947 shares of the e-commerce company’s stock worth $23,757,000 after purchasing an additional 47,630 shares in the last quarter. Finally, Kiwi Wealth Investments Limited Partnership boosted its stake in eBay by 7.8% in the 1st quarter. Kiwi Wealth Investments Limited Partnership now owns 85,462 shares of the e-commerce company’s stock valued at $5,234,000 after buying an additional 6,167 shares in the last quarter. 90.78% of the stock is owned by institutional investors and hedge funds.
In other eBay news, CAO Brian J. Doerger sold 2,862 shares of eBay stock in a transaction on Monday, August 30th. The shares were sold at an average price of $77.69, for a total value of $222,348.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Pete Thompson sold 856 shares of eBay stock in a transaction on Thursday, June 17th. The shares were sold at an average price of $65.67, for a total transaction of $56,213.52. Following the completion of the sale, the senior vice president now owns 45,805 shares in the company, valued at $3,008,014.35. 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. Corporate insiders own 0.21% of the company’s stock.
eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Wednesday, August 11th. The e-commerce company reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.16. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.64 billion. eBay had a net margin of 115.40% and a return on equity of 38.34%. During the same quarter last year, the company posted $1.02 EPS. As a group, sell-side analysts anticipate that eBay Inc. will post 3.24 earnings per share for the current year.
eBay announced that its board has authorized a share repurchase program on Wednesday, August 11th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the e-commerce company to repurchase up to 6.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 17th. Stockholders of record on Wednesday, September 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Tuesday, August 31st. eBay’s dividend payout ratio is presently 24.57%.
Several brokerages have issued reports on EBAY. Barclays lifted their price objective on eBay from $78.00 to $79.00 and gave the company an “overweight” rating in a research report on Thursday, August 12th. Cowen boosted their target price on eBay from $65.00 to $72.00 and gave the company a “market perform” rating in a research note on Monday, August 9th. Piper Sandler boosted their target price on eBay from $79.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 27th. Wedbush reaffirmed a “neutral” rating and set a $63.00 price objective on shares of eBay in a research report on Thursday, August 5th. Finally, Jefferies Financial Group initiated coverage on eBay in a research report on Thursday, September 9th. They set a “hold” rating and a $83.00 price target for the company. Twelve equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, eBay currently has a consensus rating of “Hold” and a consensus price target of $72.59.
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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