OFI Invest Asset Management Makes New Investment in eBay Inc. (NASDAQ:EBAY)

OFI Invest Asset Management bought a new stake in shares of eBay Inc. (NASDAQ:EBAY) in the second quarter, Holdings Channel.com reports. The institutional investor bought 3,000 shares of the e-commerce company’s stock, valued at approximately $150,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EBAY. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in eBay during the 2nd quarter worth approximately $26,000. Washington Trust Advisors Inc. acquired a new position in shares of eBay in the 1st quarter valued at $30,000. LRI Investments LLC purchased a new position in eBay in the 1st quarter worth $29,000. American National Bank lifted its position in eBay by 200.0% during the 1st quarter. American National Bank now owns 600 shares of the e-commerce company’s stock worth $32,000 after acquiring an additional 400 shares during the period. Finally, Gradient Investments LLC raised its stake in shares of eBay by 86.3% in the second quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock worth $33,000 after purchasing an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Insider Activity at eBay

In other eBay news, SVP Edward O. Garcia sold 986 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $52.85, for a total value of $52,110.10. Following the transaction, the senior vice president now directly owns 37,126 shares of the company’s stock, valued at approximately $1,962,109.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other eBay news, SVP Julie A. Loeger sold 7,419 shares of eBay stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $54.20, for a total transaction of $402,109.80. Following the transaction, the senior vice president now directly owns 70,797 shares of the company’s stock, valued at $3,837,197.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Edward O. Garcia sold 986 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $52.85, for a total transaction of $52,110.10. Following the completion of the transaction, the senior vice president now owns 37,126 shares in the company, valued at $1,962,109.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,488 shares of company stock valued at $565,910. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EBAY. Piper Sandler reiterated an “overweight” rating and issued a $64.00 price target (up previously from $58.00) on shares of eBay in a report on Thursday, August 1st. Wolfe Research initiated coverage on shares of eBay in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft increased their price target on eBay from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Truist Financial boosted their price objective on eBay from $50.00 to $58.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Finally, Mizuho raised their target price on eBay from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, eBay has a consensus rating of “Hold” and an average target price of $56.65.

eBay Price Performance

Shares of eBay stock traded down $0.33 during mid-day trading on Friday, reaching $55.50. 4,966,889 shares of the stock traded hands, compared to its average volume of 5,663,940. The company has a quick ratio of 1.99, a current ratio of 1.25 and a debt-to-equity ratio of 1.12. The business has a 50-day moving average of $54.18 and a 200 day moving average of $51.23. The stock has a market capitalization of $27.86 billion, a PE ratio of 11.06, a PEG ratio of 2.58 and a beta of 1.31. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $57.68.

eBay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a yield of 1.95%. eBay’s payout ratio is presently 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.