OFI Invest Asset Management Buys New Position in eBay Inc. (NASDAQ:EBAY)

OFI Invest Asset Management purchased a new stake in eBay Inc. (NASDAQ:EBAY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,000 shares of the e-commerce company’s stock, valued at approximately $150,000.

A number of other institutional investors and hedge funds have also bought and sold shares of EBAY. Vanguard Group Inc. raised its holdings in shares of eBay by 7.7% in the first quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock valued at $3,321,403,000 after purchasing an additional 4,524,934 shares during the last quarter. M&G Plc purchased a new stake in eBay in the 1st quarter valued at about $97,557,000. Swedbank AB bought a new position in shares of eBay during the 1st quarter worth approximately $73,777,000. Norges Bank purchased a new position in shares of eBay in the 4th quarter worth approximately $53,019,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of eBay by 22.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,248,438 shares of the e-commerce company’s stock valued at $272,551,000 after acquiring an additional 1,141,288 shares in the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on eBay from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays increased their price target on shares of eBay from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Morgan Stanley boosted their target price on shares of eBay from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Jefferies Financial Group raised their price target on shares of eBay from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday, May 30th. Finally, Robert W. Baird lifted their price target on shares of eBay from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $56.65.

Insider Activity at eBay

In other eBay news, SVP Julie A. Loeger sold 7,419 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $54.20, for a total value of $402,109.80. Following the transaction, the senior vice president now directly owns 70,797 shares in the company, valued at approximately $3,837,197.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Julie A. Loeger sold 7,419 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $54.20, for a total value of $402,109.80. Following the transaction, the senior vice president now owns 70,797 shares of the company’s stock, valued at approximately $3,837,197.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Rebecca Spencer sold 2,083 shares of eBay stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $53.62, for a total transaction of $111,690.46. Following the sale, the chief accounting officer now directly owns 4,109 shares of the company’s stock, valued at $220,324.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,488 shares of company stock valued at $565,910. Company insiders own 0.38% of the company’s stock.

eBay Price Performance

NASDAQ EBAY traded down $0.33 on Friday, hitting $55.50. The stock had a trading volume of 4,966,889 shares, compared to its average volume of 5,663,940. The firm has a 50-day moving average of $54.18 and a 200-day moving average of $51.23. The company has a market capitalization of $27.86 billion, a price-to-earnings ratio of 11.06, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.99 and a current ratio of 1.25. eBay Inc. has a 52-week low of $37.17 and a 52-week high of $57.68.

eBay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend is Friday, August 30th. eBay’s dividend payout ratio is 21.51%.

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.