Parsons Capital Management Inc. RI Boosts Stock Holdings in eBay Inc. (NASDAQ:EBAY)

Parsons Capital Management Inc. RI lifted its holdings in shares of eBay Inc. (NASDAQ:EBAYFree Report) by 72.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,334 shares of the e-commerce company’s stock after purchasing an additional 7,700 shares during the period. Parsons Capital Management Inc. RI’s holdings in eBay were worth $800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in shares of eBay by 39.8% during the third quarter. Ameriprise Financial Inc. now owns 12,418,131 shares of the e-commerce company’s stock worth $547,516,000 after purchasing an additional 3,534,030 shares in the last quarter. BlackRock Inc. lifted its stake in eBay by 5.4% in the first quarter. BlackRock Inc. now owns 48,038,931 shares of the e-commerce company’s stock worth $2,131,487,000 after acquiring an additional 2,464,766 shares during the period. Pacer Advisors Inc. lifted its stake in eBay by 34.3% in the fourth quarter. Pacer Advisors Inc. now owns 5,839,329 shares of the e-commerce company’s stock worth $254,712,000 after acquiring an additional 1,491,485 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in eBay by 82.6% during the first 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. Finally, Norges Bank purchased a new position in eBay during the fourth quarter valued at $50,018,000. 87.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EBAY has been the subject of several recent analyst reports. BMO Capital Markets lifted their price target on eBay from $49.00 to $53.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Barclays boosted their price target on 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 eBay from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Susquehanna lifted their price objective on eBay from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. Finally, StockNews.com cut eBay from a “buy” rating to a “hold” rating in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $48.84.

View Our Latest Report on EBAY

eBay Stock Performance

EBAY opened at $51.86 on Wednesday. The stock has a market cap of $26.86 billion, a P/E ratio of 9.93, a P/E/G ratio of 2.16 and a beta of 1.32. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.44 and a quick ratio of 2.44. The stock’s 50 day simple moving average is $46.64 and its 200 day simple moving average is $43.51. eBay Inc. has a 1-year low of $37.17 and a 1-year high of $52.93.

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

eBay Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.08%. This is a positive change from eBay’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 8th. eBay’s payout ratio is presently 20.69%.

eBay announced that its board has authorized a share repurchase program on Tuesday, February 27th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the e-commerce company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at eBay

In other eBay news, SVP Edward O. Garcia sold 1,165 shares of eBay stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $43.03, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

About eBay

(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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