Foundry Partners LLC Purchases New Position in eBay Inc. (NASDAQ:EBAY)

Foundry Partners LLC bought a new position in eBay Inc. (NASDAQ:EBAY - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 418,282 shares of the e-commerce company's stock, valued at approximately $22,470,000. eBay comprises approximately 1.2% of Foundry Partners LLC's holdings, making the stock its 17th largest holding. Foundry Partners LLC owned approximately 0.08% of eBay as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EBAY. Thurston Springer Miller Herd & Titak Inc. bought a new stake in eBay in the second quarter worth $26,000. Tortoise Investment Management LLC boosted its stake in eBay by 894.2% in the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company's stock valued at $28,000 after acquiring an additional 465 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of eBay during the second quarter valued at about $29,000. Washington Trust Advisors Inc. purchased a new stake in shares of eBay during the first quarter valued at $30,000. Finally, LRI Investments LLC purchased a new stake in shares of eBay in the 1st quarter valued at $29,000. Hedge funds and other institutional investors own 87.48% of the company's stock.

Insider Activity

In other news, CAO Rebecca Spencer sold 2,083 shares of the business's stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $53.62, for a total value of $111,690.46. Following the completion of the transaction, the chief accounting officer now directly owns 4,109 shares of the company's stock, valued at approximately $220,324.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Edward O. Garcia sold 986 shares of the firm's stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $52.85, for a total value of $52,110.10. Following the transaction, the senior vice president now directly owns 37,126 shares of the company's stock, valued at approximately $1,962,109.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Rebecca Spencer sold 2,083 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $53.62, for a total value of $111,690.46. Following the completion of the transaction, 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. Insiders own 0.38% of the company's stock.

Wall Street Analysts Forecast Growth

EBAY has been the topic of a number of research reports. Wells Fargo & Company decreased their price target on shares of eBay from $57.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Thursday, August 1st. Daiwa America raised shares of eBay to a "hold" rating in a research report on Wednesday, August 14th. Jefferies Financial Group increased their target price on eBay from $50.00 to $55.00 and gave the company a "hold" rating in a report on Thursday, May 30th. Benchmark upped their price target on shares of eBay from $58.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group boosted their price objective on shares of eBay from $38.00 to $46.00 and gave the company a "sell" rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $56.90.

eBay Stock Performance

Shares of NASDAQ EBAY traded up $0.08 during trading on Friday, hitting $59.20. The company had a trading volume of 5,032,128 shares, compared to its average volume of 5,530,579. The stock has a 50 day simple moving average of $55.69 and a 200 day simple moving average of $52.87. The firm has a market capitalization of $29.72 billion, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 2.30 and a beta of 1.31. eBay Inc. has a 12 month low of $37.17 and a 12 month high of $59.85. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date is Friday, August 30th. eBay's payout ratio is presently 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.