Rafferty Asset Management LLC Boosts Stock Position in eBay Inc. (NASDAQ:EBAY)

Rafferty Asset Management LLC lifted its position in eBay Inc. (NASDAQ:EBAY) by 9.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 77,736 shares of the e-commerce company’s stock after buying an additional 7,032 shares during the quarter. Rafferty Asset Management LLC’s holdings in eBay were worth $4,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in eBay during the 4th quarter worth about $27,000. Itau Unibanco Holding S.A. purchased a new stake in eBay during the 4th quarter worth about $33,000. Transce3nd LLC purchased a new stake in eBay during the 4th quarter worth about $36,000. New Wave Wealth Advisors LLC purchased a new stake in eBay during the 4th quarter worth about $36,000. Finally, Lee Danner & Bass Inc. purchased a new stake in eBay during the 4th quarter worth about $40,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EBAY shares. Morgan Stanley upped their price target on eBay from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Needham & Company LLC upped their price target on eBay from $72.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, May 1st. Stifel Nicolaus upped their price target on eBay from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Daiwa Capital Markets upgraded eBay from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. increased their price objective on eBay from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.42.

Insiders Place Their Bets

In other eBay news, SVP Julie A. Loeger sold 127,070 shares of the stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $69.43, for a total transaction of $8,822,470.10. Following the completion of the sale, the senior vice president now directly owns 123,282 shares of the company’s stock, valued at approximately $8,559,469.26. This trade represents a 50.76% decrease in their position. 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 3,958 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total value of $265,423.48. Following the sale, the senior vice president now directly owns 94,392 shares of the company’s stock, valued at $6,329,927.52. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 187,755 shares of company stock valued at $12,943,715. 0.64% of the stock is owned by company insiders.

eBay Stock Up 1.8%

Shares of NASDAQ EBAY opened at $71.84 on Monday. The stock has a market cap of $33.12 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 2.22 and a beta of 1.30. 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 Inc. has a 52-week low of $51.02 and a 52-week high of $71.90. The business has a 50-day moving average price of $66.49 and a 200 day moving average price of $65.50.

eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. eBay had a return on equity of 30.97% and a net margin of 19.68%. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same period last year, the firm earned $1.25 EPS. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts forecast that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 1.61%. eBay’s payout ratio is 27.62%.

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.