QRG Capital Management Inc. Has $7.33 Million Position in eBay Inc. (NASDAQ:EBAY)

QRG Capital Management Inc. raised its stake in eBay Inc. (NASDAQ:EBAY) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,605 shares of the e-commerce company’s stock after purchasing an additional 5,751 shares during the period. QRG Capital Management Inc.’s holdings in eBay were worth $7,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of EBAY. Thurston Springer Miller Herd & Titak Inc. bought a new stake in eBay during the second quarter worth about $26,000. Tortoise Investment Management LLC raised its stake in shares of eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 465 shares during the period. LRI Investments LLC bought a new stake in shares of eBay during the 1st quarter worth $29,000. Hobbs Group Advisors LLC bought a new stake in shares of eBay during the 2nd quarter worth $29,000. Finally, Washington Trust Advisors Inc. bought a new stake in shares of eBay during the 1st quarter worth $30,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on EBAY shares. Piper Sandler lifted their target price on eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Susquehanna lifted their target price on eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. The Goldman Sachs Group lifted their price objective on eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, October 15th. Daiwa America raised eBay to a “hold” rating in a report on Wednesday, August 14th. Finally, TD Cowen lifted their price objective on eBay from $45.00 to $54.00 and gave the stock a “hold” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.87.

Insider Transactions at eBay

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $66.09, for a total transaction of $371,756.25. Following the transaction, the chief executive officer now directly owns 559,291 shares in the company, valued at $36,963,542.19. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the completion of the sale, the chief financial officer now owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $66.09, for a total value of $371,756.25. Following the sale, the chief executive officer now directly owns 559,291 shares of the company’s stock, valued at approximately $36,963,542.19. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,391 shares of company stock valued at $2,678,424. 0.38% of the stock is owned by corporate insiders.

eBay Stock Up 2.1 %

Shares of NASDAQ EBAY opened at $61.51 on Wednesday. eBay Inc. has a 12 month low of $37.17 and a 12 month high of $67.80. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $29.46 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.90 and a beta of 1.34. The business has a 50-day moving average of $63.05 and a 200-day moving average of $56.97.

eBay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, November 29th. eBay’s payout ratio is 27.14%.

About eBay

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.