Public Sector Pension Investment Board Increases Stake in eBay Inc. (NASDAQ:EBAY)

Public Sector Pension Investment Board raised its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 53.9% during the 2nd quarter, Holdings Channel.com reports. The firm owned 17,855 shares of the e-commerce company’s stock after acquiring an additional 6,256 shares during the quarter. Public Sector Pension Investment Board’s holdings in eBay were worth $959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new position in eBay in the 2nd quarter worth approximately $71,593,000. Fidelis Capital Partners LLC boosted its holdings in shares of eBay by 6.9% in the second quarter. Fidelis Capital Partners LLC now owns 3,716 shares of the e-commerce company’s stock worth $205,000 after acquiring an additional 240 shares during the period. Heron Bay Capital Management grew its position in shares of eBay by 0.9% in the second quarter. Heron Bay Capital Management now owns 105,640 shares of the e-commerce company’s stock valued at $5,675,000 after purchasing an additional 979 shares in the last quarter. Frank Rimerman Advisors LLC raised its stake in shares of eBay by 10,850.0% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 5,475 shares of the e-commerce company’s stock valued at $294,000 after purchasing an additional 5,425 shares during the period. Finally, Ensign Peak Advisors Inc lifted its holdings in eBay by 389.2% during the 2nd quarter. Ensign Peak Advisors Inc now owns 162,094 shares of the e-commerce company’s stock worth $8,708,000 after purchasing an additional 128,960 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.

eBay Trading Down 1.0 %

Shares of EBAY opened at $65.20 on Thursday. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $66.23. The firm has a market cap of $32.73 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 2.45 and a beta of 1.32. The firm has a 50 day moving average price of $59.28 and a 200-day moving average price of $54.81. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25.

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

eBay Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.66%. The ex-dividend date was Friday, August 30th. eBay’s dividend payout ratio is presently 21.51%.

Insider Buying and Selling

In other eBay news, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the sale, the senior vice president now owns 70,113 shares in the company, valued at $4,530,000.93. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the sale, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Cornelius Boone sold 3,974 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total value of $256,760.14. Following the transaction, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EBAY. Truist Financial lifted their target price on eBay from $50.00 to $58.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. StockNews.com raised shares of eBay from a “hold” rating to a “buy” rating in a research note on Monday. Daiwa America upgraded shares of eBay to a “hold” rating in a research note on Wednesday, August 14th. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of eBay in a report on Monday. Finally, Bank of America upped their price target on shares of eBay from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $57.29.

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.