Patton Fund Management Inc. Invests $5.34 Million in eBay Inc. (NASDAQ:EBAY)

Patton Fund Management Inc. acquired a new position in shares of eBay Inc. (NASDAQ:EBAY) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 78,877 shares of the e-commerce company’s stock, valued at approximately $5,342,000. eBay comprises 1.3% of Patton Fund Management Inc.’s investment portfolio, making the stock its 18th largest holding.

Several other institutional investors also recently modified their holdings of EBAY. Van ECK Associates Corp increased its stake in shares of eBay by 5,091.9% during the 4th quarter. Van ECK Associates Corp now owns 142,051 shares of the e-commerce company’s stock worth $8,800,000 after purchasing an additional 139,315 shares during the last quarter. Asset Management One Co. Ltd. boosted its holdings in shares of eBay by 1.7% during the 4th quarter. Asset Management One Co. Ltd. now owns 206,425 shares of the e-commerce company’s stock worth $12,966,000 after buying an additional 3,514 shares during the period. Valeo Financial Advisors LLC boosted its holdings in shares of eBay by 8.5% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,267 shares of the e-commerce company’s stock worth $388,000 after buying an additional 493 shares during the period. Principal Securities Inc. boosted its holdings in shares of eBay by 3.0% during the 4th quarter. Principal Securities Inc. now owns 27,920 shares of the e-commerce company’s stock worth $1,730,000 after buying an additional 810 shares during the period. Finally, Allworth Financial LP boosted its holdings in shares of eBay by 45.5% during the 4th quarter. Allworth Financial LP now owns 8,225 shares of the e-commerce company’s stock worth $525,000 after buying an additional 2,573 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Stifel Nicolaus lifted their target price on shares of eBay from $61.00 to $62.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Piper Sandler lifted their target price on shares of eBay from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Benchmark lifted their target price on shares of eBay from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Barclays lifted their target price on shares of eBay from $72.00 to $77.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. lifted their target price on shares of eBay from $60.00 to $66.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $67.73.

Insider Transactions at eBay

In related news, SVP Cornelius Boone sold 2,985 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $78.67, for a total value of $234,829.95. Following the completion of the sale, the senior vice president now directly owns 92,053 shares in the company, valued at $7,241,809.51. This represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen J. Priest sold 28,060 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $67.82, for a total value of $1,903,029.20. Following the completion of the sale, the chief financial officer now owns 65,080 shares of the company’s stock, valued at $4,413,725.60. The trade was a 30.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 292,321 shares of company stock worth $20,606,770. Corporate insiders own 0.64% of the company’s stock.

eBay Stock Up 0.5%

NASDAQ EBAY opened at $77.71 on Tuesday. The business has a fifty day moving average price of $70.58 and a two-hundred day moving average price of $67.40. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. eBay Inc. has a fifty-two week low of $51.72 and a fifty-two week high of $79.84. The stock has a market capitalization of $35.82 billion, a PE ratio of 19.53, a PEG ratio of 2.22 and a beta of 1.27.

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

eBay Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 1.49%. eBay’s dividend payout ratio (DPR) is presently 27.62%.

eBay 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.