IVY Lane Capital Management LLC Purchases Shares of 85,000 eBay Inc. (NASDAQ:EBAY)

IVY Lane Capital Management LLC purchased a new stake in eBay Inc. (NASDAQ:EBAY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 85,000 shares of the e-commerce company’s stock, valued at approximately $3,799,000. eBay comprises 2.8% of IVY Lane Capital Management LLC’s holdings, making the stock its 13th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. increased its stake in eBay by 272.2% in the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 603 shares of the e-commerce company’s stock valued at $27,000 after buying an additional 441 shares during the last quarter. SkyView Investment Advisors LLC bought a new position in shares of eBay in the 1st quarter valued at about $27,000. Almanack Investment Partners LLC. bought a new position in shares of eBay in the 3rd quarter valued at about $28,000. Stonebridge Capital Advisors LLC bought a new position in shares of eBay in the 4th quarter valued at about $29,000. Finally, Gyon Technologies Capital Management LP bought a new position in shares of eBay in the 4th quarter valued at about $32,000. 85.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Cornelius Boone sold 4,891 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $43.63, for a total transaction of $213,394.33. Following the completion of the transaction, the senior vice president now directly owns 49,845 shares in the company, valued at approximately $2,174,737.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other eBay news, SVP Edward O. Garcia sold 1,181 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $43.31, for a total transaction of $51,149.11. Following the sale, the senior vice president now directly owns 21,728 shares of the company’s stock, valued at approximately $941,039.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Cornelius Boone sold 4,891 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $43.63, for a total transaction of $213,394.33. Following the sale, the senior vice president now directly owns 49,845 shares in the company, valued at $2,174,737.35. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

eBay Price Performance

Shares of NASDAQ:EBAY traded up $0.56 during midday trading on Wednesday, hitting $40.90. The stock had a trading volume of 608,146 shares, compared to its average volume of 5,101,208. The company’s 50-day moving average price is $41.94 and its 200-day moving average price is $43.80. The company has a market capitalization of $21.77 billion, a P/E ratio of 7.97, a price-to-earnings-growth ratio of 2.00 and a beta of 1.33. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 1.18. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $52.23.

eBay (NASDAQ:EBAY) last released its quarterly earnings data on Tuesday, November 7th. The e-commerce company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.03. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.51 billion. eBay had a net margin of 26.99% and a return on equity of 32.03%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.82 EPS. As a group, equities research analysts predict that eBay Inc. will post 3.3 EPS for the current fiscal year.

eBay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Thursday, November 30th. eBay’s dividend payout ratio is 19.76%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EBAY. Credit Suisse Group lifted their price objective on shares of eBay from $56.00 to $57.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Wells Fargo & Company decreased their price objective on shares of eBay from $46.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 8th. TheStreet downgraded shares of eBay from a “b-” rating to a “c” rating in a research report on Wednesday, July 26th. Jefferies Financial Group reduced their target price on shares of eBay from $45.00 to $43.00 in a report on Tuesday, October 10th. Finally, Bank of America reduced their target price on shares of eBay from $54.00 to $52.00 in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, eBay currently has a consensus rating of “Hold” and an average target price of $48.25.

eBay Company Profile

eBay Inc operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, and sell various products. The company was founded in 1995 and is headquartered in San Jose, California.