eBay Inc. (NASDAQ:EBAY) Position Lifted by Empowered Funds LLC

Empowered Funds LLC raised its stake in eBay Inc. (NASDAQ:EBAY) by 57.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 106,358 shares of the e-commerce company’s stock after acquiring an additional 38,782 shares during the period. Empowered Funds LLC’s holdings in eBay were worth $6,925,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in eBay by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,494 shares of the e-commerce company’s stock worth $3,418,000 after purchasing an additional 153 shares in the last quarter. Optas LLC grew its position in shares of eBay by 0.5% in the 3rd quarter. Optas LLC now owns 34,082 shares of the e-commerce company’s stock worth $2,219,000 after acquiring an additional 171 shares in the last quarter. Davis Investment Partners LLC increased its holdings in shares of eBay by 0.8% in the 3rd quarter. Davis Investment Partners LLC now owns 23,475 shares of the e-commerce company’s stock valued at $1,531,000 after acquiring an additional 180 shares during the last quarter. Arvest Investments Inc. raised its position in shares of eBay by 1.2% during the 3rd quarter. Arvest Investments Inc. now owns 15,205 shares of the e-commerce company’s stock valued at $990,000 after acquiring an additional 183 shares in the last quarter. Finally, Quent Capital LLC lifted its stake in eBay by 6.8% during the first quarter. Quent Capital LLC now owns 3,173 shares of the e-commerce company’s stock worth $167,000 after purchasing an additional 202 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.

Insider Activity

In related news, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total value of $77,757.21. Following the transaction, the chief financial officer now owns 65,079 shares of the company’s stock, valued at approximately $4,336,213.77. This trade represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Cornelius Boone sold 3,974 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction of $256,760.14. Following the sale, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,016 shares of company stock worth $3,015,417. Corporate insiders own 0.38% of the company’s stock.

eBay Trading Down 1.4 %

Shares of eBay stock opened at $61.43 on Friday. The business has a fifty day simple moving average of $63.53 and a 200-day simple moving average of $57.51. eBay Inc. has a fifty-two week low of $38.97 and a fifty-two week high of $67.80. The firm has a market cap of $29.42 billion, a price-to-earnings ratio of 15.43, a price-to-earnings-growth ratio of 2.03 and a beta of 1.34. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.76%. eBay’s dividend payout ratio (DPR) is 27.14%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on EBAY. Benchmark reiterated a “buy” rating and set a $65.00 target price on shares of eBay in a research note on Tuesday, October 29th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of eBay in a research report on Monday, October 7th. Piper Sandler raised their target price on shares of eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Evercore ISI upped their target price on eBay from $47.00 to $53.00 and gave the company an “in-line” rating in a report on Thursday, August 1st. Finally, Susquehanna raised their price target on eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.87.

eBay Company Profile

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.