Resona Asset Management Co. Ltd. Makes New $9.21 Million Investment in eBay Inc. (NASDAQ:EBAY)

Resona Asset Management Co. Ltd. acquired a new position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 148,377 shares of the e-commerce company's stock, valued at approximately $9,210,000.

Several other hedge funds have also modified their holdings of EBAY. Nordea Investment Management AB boosted its position in eBay by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 9,151,026 shares of the e-commerce company's stock valued at $573,220,000 after buying an additional 335,035 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of eBay by 1.4% during the fourth quarter. Victory Capital Management Inc. now owns 5,936,508 shares of the e-commerce company's stock valued at $367,767,000 after acquiring an additional 82,904 shares during the period. Boston Partners boosted its holdings in eBay by 35.2% in the fourth quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company's stock valued at $362,823,000 after acquiring an additional 1,524,691 shares during the last quarter. Amundi raised its holdings in eBay by 16.8% during the 4th quarter. Amundi now owns 4,719,128 shares of the e-commerce company's stock worth $292,350,000 after purchasing an additional 677,389 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in eBay by 23.2% during the 4th quarter. Allianz Asset Management GmbH now owns 2,460,879 shares of the e-commerce company's stock valued at $152,451,000 after purchasing an additional 463,015 shares during the period. 87.48% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Barclays set a $72.00 price target on shares of eBay and gave the stock an "overweight" rating in a research note on Thursday, February 27th. Wells Fargo & Company cut their price target on eBay from $64.00 to $62.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 2nd. Susquehanna lifted their price objective on eBay from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. JPMorgan Chase & Co. dropped their price objective on eBay from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday. Finally, Benchmark boosted their target price on eBay from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, eBay currently has a consensus rating of "Hold" and a consensus target price of $65.21.

eBay Stock Performance

Shares of eBay stock traded up $1.50 on Friday, hitting $63.97. The stock had a trading volume of 1,877,180 shares, compared to its average volume of 4,933,391. The business's 50 day moving average is $66.55 and its two-hundred day moving average is $64.92. The stock has a market cap of $29.81 billion, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43. eBay Inc. has a twelve month low of $48.52 and a twelve month high of $71.61. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, March 14th. This is a boost from eBay's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.81%. eBay's dividend payout ratio (DPR) is currently 29.07%.

Insider Activity

In other news, CEO Jamie Iannone sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $66.35, for a total transaction of $497,625.00. Following the completion of the sale, the chief executive officer now owns 590,108 shares of the company's stock, valued at approximately $39,153,665.80. This represents a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephen J. Priest sold 1,033 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $64.93, for a total transaction of $67,072.69. Following the transaction, the chief financial officer now owns 65,080 shares of the company's stock, valued at approximately $4,225,644.40. This represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,176 shares of company stock worth $3,111,432. Corporate 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.