Zions Bancorporation N.A. Sells 197 Shares of eBay Inc. (NASDAQ:EBAY)

Zions Bancorporation N.A. reduced its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 28.4% during the second quarter, HoldingsChannel.com reports. The fund owned 496 shares of the e-commerce company’s stock after selling 197 shares during the quarter. Zions Bancorporation N.A.’s holdings in eBay were worth $27,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of eBay by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock worth $3,321,403,000 after purchasing an additional 4,524,934 shares during the period. Mirova US LLC raised its position in eBay by 2.1% in the second quarter. Mirova US LLC now owns 9,170,829 shares of the e-commerce company’s stock worth $492,657,000 after acquiring an additional 189,505 shares during the period. Victory Capital Management Inc. boosted its stake in eBay by 12.5% in the second quarter. Victory Capital Management Inc. now owns 7,536,843 shares of the e-commerce company’s stock valued at $404,879,000 after acquiring an additional 838,969 shares during the last quarter. LSV Asset Management grew its position in shares of eBay by 22.2% during the 2nd quarter. LSV Asset Management now owns 6,705,345 shares of the e-commerce company’s stock valued at $360,211,000 after acquiring an additional 1,216,885 shares during the period. Finally, Harris Associates L P increased its stake in shares of eBay by 0.7% during the 4th quarter. Harris Associates L P now owns 4,577,264 shares of the e-commerce company’s stock worth $199,660,000 after purchasing an additional 30,545 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on EBAY shares. JPMorgan Chase & Co. started coverage on eBay in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $60.00 price objective on the stock. Citigroup upped their price target on eBay from $64.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. StockNews.com lowered eBay from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Truist Financial upped their price objective on shares of eBay from $50.00 to $58.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $64.00 target price (up previously from $58.00) on shares of eBay in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, eBay presently has a consensus rating of “Hold” and an average target price of $56.90.

Insiders Place Their Bets

In other news, SVP Edward O. Garcia sold 986 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $52.85, for a total transaction of $52,110.10. Following the transaction, the senior vice president now directly owns 37,126 shares in the company, valued at approximately $1,962,109.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.38% of the company’s stock.

eBay Stock Performance

Shares of EBAY opened at $63.44 on Monday. eBay Inc. has a 12-month low of $37.17 and a 12-month high of $63.90. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.12. The company has a market cap of $31.02 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. The stock has a 50-day moving average price of $56.55 and a 200-day moving average price of $53.58.

eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.88. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.53 billion. eBay had a net margin of 26.41% and a return on equity of 29.69%. As a group, equities analysts forecast that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.27 per share. The ex-dividend date was Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a yield of 1.70%. eBay’s payout ratio is 21.51%.

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.