Axxcess Wealth Management LLC Buys New Shares in eBay Inc. (NASDAQ:EBAY)

Axxcess Wealth Management LLC bought a new position in shares of eBay Inc. (NASDAQ:EBAY) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,985 shares of the e-commerce company’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its holdings in eBay by 39.8% during the 3rd 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 during the last quarter. Pacer Advisors Inc. raised its position in shares of eBay by 34.3% in the fourth quarter. Pacer Advisors Inc. now owns 5,839,329 shares of the e-commerce company’s stock valued at $254,712,000 after purchasing an additional 1,491,485 shares during the period. Invesco Ltd. lifted its stake in shares of eBay by 16.0% during the 3rd quarter. Invesco Ltd. now owns 8,182,095 shares of the e-commerce company’s stock worth $360,749,000 after buying an additional 1,130,089 shares during the last quarter. Boston Partners boosted its holdings in shares of eBay by 17.7% during the 3rd quarter. Boston Partners now owns 3,980,512 shares of the e-commerce company’s stock worth $175,451,000 after buying an additional 599,607 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in eBay by 604.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 630,956 shares of the e-commerce company’s stock valued at $27,522,000 after buying an additional 541,384 shares during the last quarter. 87.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EBAY has been the subject of a number of research analyst reports. Susquehanna boosted their price objective on eBay from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft upped their price objective on eBay from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Benchmark reissued a “buy” rating and set a $58.00 target price on shares of eBay in a report on Thursday, May 2nd. Truist Financial upped their price target on shares of eBay from $48.00 to $50.00 and gave the company a “hold” rating in a research note on Monday. Finally, Wells Fargo & Company lifted their price objective on shares of eBay from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.45.

eBay Stock Performance

Shares of eBay stock opened at $50.34 on Friday. The company has a market cap of $25.47 billion, a P/E ratio of 10.03, a PEG ratio of 1.93 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.98. The business has a 50-day moving average price of $51.13 and a two-hundred day moving average price of $45.05. eBay Inc. has a 1-year low of $37.17 and a 1-year high of $52.93.

eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.05. The business had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.53 billion. eBay had a return on equity of 29.11% and a net margin of 25.97%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.87 earnings per share. As a group, analysts anticipate that eBay Inc. will post 3.75 EPS for the current year.

eBay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.15%. The ex-dividend date is Thursday, May 30th. eBay’s dividend payout ratio is presently 21.51%.

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

Insiders Place Their Bets

In other news, SVP Marie Oh Huber sold 49,070 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $49.63, for a total transaction of $2,435,344.10. Following the transaction, the senior vice president now owns 177,391 shares in the company, valued at $8,803,915.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Marie Oh Huber sold 49,070 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $49.63, for a total transaction of $2,435,344.10. Following the transaction, the senior vice president now directly owns 177,391 shares of the company’s stock, valued at $8,803,915.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Edward O. Garcia sold 1,165 shares of eBay 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 sale, the senior vice president now directly 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. Corporate insiders own 0.21% of the company’s stock.

eBay Company 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.