Jessup Wealth Management Inc Invests $8.29 Million in eBay Inc. (NASDAQ:EBAY)

Jessup Wealth Management Inc acquired a new stake in shares of eBay Inc. (NASDAQ:EBAY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 127,318 shares of the e-commerce company’s stock, valued at approximately $8,290,000. eBay comprises about 3.8% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 10th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in eBay by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock worth $3,321,403,000 after purchasing an additional 4,524,934 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in eBay by 17.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock worth $1,394,797,000 after acquiring an additional 3,880,649 shares during the period. Mirova US LLC boosted its holdings in eBay by 2.1% during the second quarter. Mirova US LLC now owns 9,170,829 shares of the e-commerce company’s stock valued at $492,657,000 after acquiring an additional 189,505 shares during the period. Victory Capital Management Inc. grew its holdings in eBay by 12.5% in the 2nd quarter. Victory Capital Management Inc. now owns 7,536,843 shares of the e-commerce company’s stock valued at $404,879,000 after buying an additional 838,969 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of eBay by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,723,503 shares of the e-commerce company’s stock valued at $361,159,000 after acquiring an additional 530,941 shares during the period. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wolfe Research initiated coverage on shares of eBay in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Susquehanna increased their price objective on shares of eBay from $52.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Robert W. Baird boosted their price target on eBay from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley upped their price objective on shares of eBay from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Truist Financial lifted their target price on shares of eBay from $50.00 to $58.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.05.

eBay Trading Up 1.3 %

eBay stock traded up $0.84 during midday trading on Friday, hitting $66.89. 292,251 shares of the stock were exchanged, compared to its average volume of 5,490,961. The company has a fifty day simple moving average of $60.66 and a two-hundred day simple moving average of $55.40. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $32.71 billion, a PE ratio of 12.83, a P/E/G ratio of 2.59 and a beta of 1.32. eBay Inc. has a 52 week low of $37.17 and a 52 week high of $67.72.

eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.88. eBay had a return on equity of 29.69% and a net margin of 26.41%. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.53 billion. Equities research analysts anticipate that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.27 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.61%. eBay’s dividend payout ratio (DPR) is 20.97%.

Insider Transactions at eBay

In related news, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Cornelius Boone sold 3,974 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $66.09, for a total transaction of $371,756.25. Following the transaction, the chief executive officer now owns 559,291 shares in the company, valued at approximately $36,963,542.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,224 shares of company stock valued at $2,600,666 over the last three months. Company insiders own 0.38% of the company’s stock.

eBay 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.