Everence Capital Management Inc. Grows Stake in eBay Inc. (NASDAQ:EBAY)

Everence Capital Management Inc. grew its stake in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 66.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,450 shares of the e-commerce company's stock after buying an additional 8,540 shares during the quarter. Everence Capital Management Inc.'s holdings in eBay were worth $1,397,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in eBay by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company's stock valued at $3,321,403,000 after buying an additional 4,524,934 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of eBay by 17.6% during the second quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company's stock valued at $1,394,797,000 after acquiring an additional 3,880,649 shares during the last quarter. M&G Plc purchased a new stake in shares of eBay during the first quarter worth about $97,557,000. Swedbank AB bought a new stake in shares of eBay in the first quarter worth about $73,777,000. Finally, Altshuler Shaham Ltd purchased a new position in eBay during the 2nd quarter valued at about $71,593,000. 87.48% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Stephen J. Priest sold 25,000 shares of the firm's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the completion of the transaction, the chief financial officer now directly owns 70,332 shares of the company's stock, valued at approximately $4,494,918.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Cornelius Boone sold 3,974 shares of the company's stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $256,760.14. Following the sale, the senior vice president now directly owns 70,113 shares of the company's stock, valued at $4,530,000.93. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $63.91, for a total value of $1,597,750.00. Following the transaction, the chief financial officer now owns 70,332 shares of the company's stock, valued at $4,494,918.12. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,391 shares of company stock worth $2,678,424 over the last quarter. Insiders own 0.38% of the company's stock.

eBay Stock Down 1.2 %

Shares of EBAY traded down $0.79 on Monday, hitting $64.16. 3,332,892 shares of the stock traded hands, compared to its average volume of 5,459,973. eBay Inc. has a one year low of $37.17 and a one year high of $67.80. The company has a market capitalization of $32.21 billion, a PE ratio of 12.78, a P/E/G ratio of 2.59 and a beta of 1.32. The business has a 50 day simple moving average of $61.93 and a 200 day simple moving average of $56.06. 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 (NASDAQ:EBAY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.88. eBay had a return on equity of 29.69% and a net margin of 26.41%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.53 billion. As a group, equities analysts forecast that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Friday, August 30th. eBay's dividend payout ratio (DPR) is currently 21.51%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on EBAY shares. Morgan Stanley increased their price objective on eBay from $61.00 to $64.00 and gave the stock an "overweight" rating in a report on Friday, July 19th. Piper Sandler reaffirmed an "overweight" rating and issued a $64.00 price target (up previously from $58.00) on shares of eBay in a research note on Thursday, August 1st. Robert W. Baird boosted their price objective on shares of eBay from $62.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, October 11th. Susquehanna upped their price objective on shares of eBay from $52.00 to $60.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their target price on shares of eBay from $55.00 to $63.00 and gave the company an "equal weight" rating in a research note on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $59.10.

eBay Company 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.