eBay Inc. (NASDAQ:EBAY) Shares Acquired by Raymond James & Associates

Raymond James & Associates boosted its stake in shares of eBay Inc. (NASDAQ:EBAY) by 6.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 873,900 shares of the e-commerce company’s stock after purchasing an additional 56,148 shares during the quarter. Raymond James & Associates owned approximately 0.17% of eBay worth $46,124,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its position in eBay by 3.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 48,186 shares of the e-commerce company’s stock valued at $2,125,000 after purchasing an additional 1,658 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of eBay by 3.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 147,661 shares of the e-commerce company’s stock worth $6,510,000 after buying an additional 5,149 shares during the period. Stratos Wealth Partners LTD. grew its holdings in eBay by 109.7% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 10,263 shares of the e-commerce company’s stock worth $453,000 after buying an additional 5,370 shares in the last quarter. Bank of New York Mellon Corp increased its position in eBay by 2.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,762,716 shares of the e-commerce company’s stock valued at $209,988,000 after acquiring an additional 113,771 shares during the period. Finally, Total Clarity Wealth Management Inc. bought a new stake in eBay during the 3rd quarter valued at $288,000. 87.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EBAY shares. Barclays increased their price target on eBay from $61.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial raised their target price on shares of eBay from $47.00 to $48.00 and gave the company a “hold” rating in a research note on Thursday, February 29th. BMO Capital Markets upped their price target on shares of eBay from $49.00 to $53.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 28th. Piper Sandler raised their price objective on shares of eBay from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Finally, Susquehanna boosted their target price on eBay from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.35.

Insider Activity

In related news, SVP Edward O. Garcia sold 1,165 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total transaction of $50,129.95. Following the completion of the sale, the senior vice president now directly owns 31,888 shares in the company, valued at $1,372,140.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is owned by corporate insiders.

eBay Trading Up 0.5 %

Shares of eBay stock traded up $0.26 during trading on Friday, hitting $49.65. The stock had a trading volume of 6,896,723 shares, compared to its average volume of 5,298,042. The company has a quick ratio of 2.44, a current ratio of 1.99 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $25.14 billion, a PE ratio of 9.89, a P/E/G ratio of 1.96 and a beta of 1.31. eBay Inc. has a 1 year low of $37.17 and a 1 year high of $52.93. The stock has a 50 day simple moving average of $50.81 and a 200 day simple moving average of $44.82.

eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.05. The company had revenue of $2.56 billion for the quarter, compared to the consensus estimate of $2.53 billion. eBay had a net margin of 25.97% and a return on equity of 29.11%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. On average, research analysts expect that eBay Inc. will post 3.75 EPS for the current fiscal year.

eBay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.08 annualized dividend and a yield of 2.18%. eBay’s dividend payout ratio (DPR) is presently 21.51%.

eBay announced that its Board of Directors has initiated a stock buyback program on Tuesday, February 27th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the e-commerce company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

About eBay

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.