Wealthfront Advisers LLC Acquires 29,770 Shares of eBay Inc. (NASDAQ:EBAY)

Wealthfront Advisers LLC grew its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 96.8% in the 1st quarter, HoldingsChannel reports. The firm owned 60,525 shares of the e-commerce company’s stock after acquiring an additional 29,770 shares during the quarter. Wealthfront Advisers LLC’s holdings in eBay were worth $4,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC grew its position in shares of eBay by 0.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 50,904 shares of the e-commerce company’s stock worth $3,154,000 after purchasing an additional 238 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in eBay by 9.5% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 29,937 shares of the e-commerce company’s stock worth $1,855,000 after acquiring an additional 2,589 shares during the period. Cibc World Markets Corp raised its stake in shares of eBay by 18.5% in the fourth quarter. Cibc World Markets Corp now owns 79,503 shares of the e-commerce company’s stock valued at $4,925,000 after acquiring an additional 12,391 shares in the last quarter. Evoke Wealth LLC purchased a new position in shares of eBay during the fourth quarter worth about $262,000. Finally, Xponance Inc. boosted its holdings in eBay by 5.9% in the 4th quarter. Xponance Inc. now owns 86,190 shares of the e-commerce company’s stock valued at $5,339,000 after purchasing an additional 4,813 shares in the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Price Performance

eBay stock opened at $76.79 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. eBay Inc. has a 52-week low of $53.10 and a 52-week high of $79.84. The firm’s fifty day moving average is $74.96 and its 200 day moving average is $69.34. The company has a market cap of $35.40 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 2.15 and a beta of 1.26.

eBay (NASDAQ:EBAY) last released its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.34 by $0.04. eBay had a return on equity of 36.60% and a net margin of 19.78%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. Sell-side analysts forecast that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Friday, May 30th. eBay’s dividend payout ratio (DPR) is currently 27.62%.

Insider Buying and Selling

In related news, SVP Julie A. Loeger sold 127,070 shares of the firm’s stock in a transaction 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 sale, the senior vice president owned 123,282 shares of the company’s stock, valued at $8,559,469.26. This trade represents a 50.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the business’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $77.38, for a total value of $1,825,935.86. Following the completion of the sale, the senior vice president directly owned 44,413 shares of the company’s stock, valued at $3,436,677.94. The trade was a 34.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 347,222 shares of company stock worth $25,143,522 in the last 90 days. 0.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

EBAY has been the subject of a number of research analyst reports. Evercore ISI increased their target price on shares of eBay from $63.00 to $69.00 and gave the stock an “in-line” rating in a research report on Thursday, May 1st. Robert W. Baird raised their price target on shares of eBay from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Thursday, July 10th. Stifel Nicolaus lifted their price objective on shares of eBay from $61.00 to $62.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Piper Sandler upped their price target on eBay from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Finally, Cfra Research raised eBay to a “moderate buy” rating in a research report on Thursday, June 5th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, eBay presently has a consensus rating of “Hold” and an average target price of $68.12.

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.