Comerica Bank Has $5.01 Million Stake in eBay Inc. (NASDAQ:EBAY)

Comerica Bank raised its position in shares of eBay Inc. (NASDAQ:EBAYFree Report) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,578 shares of the e-commerce company’s stock after acquiring an additional 1,315 shares during the period. Comerica Bank’s holdings in eBay were worth $5,008,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ameriprise Financial Inc. raised its position in eBay by 39.8% during the third quarter. Ameriprise Financial Inc. now owns 12,418,131 shares of the e-commerce company’s stock valued at $547,516,000 after purchasing an additional 3,534,030 shares in the last quarter. BlackRock Inc. grew its stake in shares of eBay by 5.4% in the 1st quarter. BlackRock Inc. now owns 48,038,931 shares of the e-commerce company’s stock valued at $2,131,487,000 after buying an additional 2,464,766 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of eBay by 82.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 3,118,490 shares of the e-commerce company’s stock valued at $138,367,000 after buying an additional 1,410,871 shares during the period. Norges Bank bought a new position in eBay in the 4th quarter valued at about $50,018,000. Finally, Invesco Ltd. lifted its position in eBay by 16.0% in the 3rd quarter. Invesco Ltd. now owns 8,182,095 shares of the e-commerce company’s stock valued at $360,749,000 after acquiring an additional 1,130,089 shares in the last quarter. 85.87% of the stock is currently owned by institutional investors and hedge funds.

eBay Stock Performance

EBAY opened at $52.20 on Monday. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $52.82. The stock has a market capitalization of $27.04 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 2.14 and a beta of 1.31. The company has a fifty day moving average of $44.35 and a 200 day moving average of $42.91. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.44 and a current ratio of 2.44.

eBay (NASDAQ:EBAYGet Free Report) last announced its quarterly earnings data on Tuesday, February 27th. The e-commerce company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.51 billion. eBay had a net margin of 27.36% and a return on equity of 29.16%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. As a group, sell-side analysts forecast that eBay Inc. will post 3.64 earnings per share for the current fiscal year.

eBay announced that its board has initiated a share repurchase plan on Tuesday, February 27th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the e-commerce company to repurchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

eBay Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Monday, March 11th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.07%. This is a boost from eBay’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Friday, March 8th. eBay’s payout ratio is presently 20.69%.

Insider Activity at eBay

In other eBay news, SVP Edward O. Garcia sold 1,165 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total transaction of $50,129.95. Following the completion of the transaction, the senior vice president now directly owns 31,888 shares in the company, valued at $1,372,140.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Cornelius Boone sold 4,930 shares of eBay stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $42.66, for a total transaction of $210,313.80. Following the sale, the senior vice president now directly owns 49,897 shares in the company, valued at approximately $2,128,606.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Edward O. Garcia sold 1,165 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total transaction of $50,129.95. Following the completion of the sale, the senior vice president now owns 31,888 shares of the company’s stock, valued at approximately $1,372,140.64. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on EBAY. The Goldman Sachs Group began coverage on shares of eBay in a research report on Wednesday, January 10th. They set a “sell” rating and a $38.00 target price on the stock. Barclays lifted their price objective on shares of eBay from $55.00 to $61.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Mizuho lifted their price objective on shares of eBay from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Piper Sandler upped their price objective on shares of eBay from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. Finally, BMO Capital Markets boosted their price target on shares of eBay from $49.00 to $53.00 and gave the company a “market perform” rating in a research report on Wednesday, February 28th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $48.84.

Check Out Our Latest Stock Report on eBay

eBay Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for eBay (NASDAQ:EBAY)

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