Lighthouse Investment Partners LLC Purchases New Stake in eBay Inc. (NASDAQ:EBAY)

Lighthouse Investment Partners LLC acquired a new position in shares of eBay Inc. (NASDAQ:EBAY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,598 shares of the e-commerce company’s stock, valued at approximately $301,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of eBay in the 2nd quarter valued at approximately $26,000. Tortoise Investment Management LLC grew its position in eBay by 894.2% in the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after acquiring an additional 465 shares during the period. LRI Investments LLC acquired a new stake in eBay during the first quarter worth $29,000. Hobbs Group Advisors LLC purchased a new stake in eBay in the second quarter valued at $29,000. Finally, Washington Trust Advisors Inc. acquired a new position in shares of eBay in the 1st quarter valued at $30,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EBAY shares. Truist Financial boosted their price objective on shares of eBay from $50.00 to $58.00 and gave the company a “hold” rating in a report on Tuesday, August 6th. Robert W. Baird upped their price objective on shares of eBay from $58.00 to $62.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Susquehanna lifted their target price on shares of eBay from $52.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Piper Sandler restated an “overweight” rating and set a $64.00 price target (up from $58.00) on shares of eBay in a research note on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on eBay from $60.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $57.29.

eBay Price Performance

eBay stock opened at $64.00 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.12. The company has a fifty day simple moving average of $58.57 and a 200-day simple moving average of $54.55. The stock has a market cap of $32.13 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 2.45 and a beta of 1.32. eBay Inc. has a 12-month low of $37.17 and a 12-month high of $65.44.

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

eBay Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Friday, August 30th. eBay’s dividend payout ratio (DPR) is 21.51%.

Insider Buying and Selling at eBay

In other news, CFO Stephen J. Priest sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 70,332 shares in the company, valued at approximately $4,494,918.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction 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 directly owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction of $256,760.14. Following the completion of the sale, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

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.