Norges Bank bought a new position in eBay Inc. (NASDAQ:EBAY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,773,837 shares of the e-commerce company’s stock, valued at approximately $189,635,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of EBAY. Oder Investment Management LLC bought a new position in eBay in the 4th quarter worth about $25,000. Hanson & Doremus Investment Management boosted its stake in eBay by 56.3% in the 4th quarter. Hanson & Doremus Investment Management now owns 558 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 201 shares during the period. Hoover Financial Advisors Inc. bought a new position in eBay in the 4th quarter worth about $33,000. Newfound Research LLC bought a new stake in shares of eBay during the 4th quarter valued at about $34,000. Finally, Iron Horse Wealth Management LLC bought a new stake in shares of eBay during the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 90.13% of the company’s stock.
A number of brokerages have recently issued reports on EBAY. KeyCorp lifted their price target on eBay from $65.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, February 4th. Wolfe Research began coverage on eBay in a research report on Wednesday, March 31st. They set an “outperform” rating and a $77.00 price target for the company. Evercore ISI reissued an “in-line” rating and set a $65.00 price objective on shares of eBay in a report on Tuesday. DA Davidson raised their price objective on eBay from $67.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, February 4th. Finally, Credit Suisse Group raised their price objective on eBay from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday, February 4th. Fourteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $67.48.
eBay (NASDAQ:EBAY) last released its earnings results on Tuesday, February 2nd. The e-commerce company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.03. eBay had a return on equity of 82.73% and a net margin of 50.42%. The business had revenue of $2.87 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same period in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 28.3% compared to the same quarter last year. On average, research analysts anticipate that eBay Inc. will post 2.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 19th. Shareholders of record on Monday, March 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.17%. This is an increase from eBay’s previous quarterly dividend of $0.16. The ex-dividend date was Friday, February 26th. eBay’s payout ratio is 31.03%.
eBay declared that its board has authorized a stock buyback program on Wednesday, February 3rd that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the e-commerce company to buy up to 10% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, CFO Andrew John Cring sold 9,512 shares of the business’s stock in a transaction on Tuesday, January 19th. The stock was sold at an average price of $57.00, for a total value of $542,184.00. Following the completion of the transaction, the chief financial officer now owns 122,664 shares in the company, valued at $6,991,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Pete Thompson sold 23,625 shares of the business’s stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $57.22, for a total value of $1,351,822.50. Following the completion of the transaction, the senior vice president now owns 41,142 shares of the company’s stock, valued at approximately $2,354,145.24. The disclosure for this sale can be found here. Insiders sold 35,855 shares of company stock worth $2,063,882 over the last three months. Corporate insiders own 5.02% of the company’s stock.
eBay Company Profile
eBay Inc operates marketplace platforms that connect buyers and sellers worldwide. 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, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, classifieds, directories, search engines, commerce participants, shopping channels, and networks.
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