Mirae Asset Global Investments Co. Ltd. Purchases 9,900 Shares of eBay Inc. (NASDAQ:EBAY)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of eBay Inc. (NASDAQ:EBAY) by 10.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 103,258 shares of the e-commerce company’s stock after purchasing an additional 9,900 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in eBay were worth $6,935,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. increased its stake in shares of eBay by 12.4% during the fourth quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company’s stock valued at $1,765,148,000 after buying an additional 3,149,934 shares during the period. Independent Franchise Partners LLP boosted its holdings in eBay by 25.6% in the fourth quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company’s stock valued at $692,517,000 after acquiring an additional 2,277,839 shares in the last quarter. Marshall Wace LLP increased its position in eBay by 304.2% during the 4th quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company’s stock valued at $130,421,000 after purchasing an additional 1,584,404 shares during the period. Raymond James Financial Inc. bought a new position in eBay in the 4th quarter worth $96,214,000. Finally, Boston Partners lifted its position in shares of eBay by 35.2% in the 4th quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company’s stock worth $362,823,000 after purchasing an additional 1,524,691 shares during the period. 87.48% of the stock is owned by institutional investors.

Insider Activity

In other eBay news, CEO Jamie Iannone sold 12,644 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $79.06, for a total value of $999,634.64. Following the sale, the chief executive officer owned 325,053 shares in the company, valued at $25,698,690.18. The trade was a 3.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Julie A. Loeger sold 92,895 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $72.06, for a total value of $6,694,013.70. Following the transaction, the senior vice president owned 123,282 shares of the company’s stock, valued at approximately $8,883,700.92. The trade was a 42.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 287,858 shares of company stock valued at $20,529,676. Company insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on EBAY shares. Morgan Stanley raised their price objective on shares of eBay from $70.00 to $74.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Daiwa Capital Markets upgraded eBay from a “neutral” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Monday, May 12th. Stifel Nicolaus upped their price target on eBay from $61.00 to $62.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Daiwa America upgraded eBay from a “hold” rating to a “strong-buy” rating in a report on Monday, May 12th. Finally, Sanford C. Bernstein cut shares of eBay from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $70.00 to $65.00 in a report on Tuesday, April 22nd. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $67.85.

eBay Price Performance

Shares of NASDAQ:EBAY opened at $74.46 on Tuesday. The company has a market capitalization of $34.33 billion, a P/E ratio of 17.73, a P/E/G ratio of 2.06 and a beta of 1.27. eBay Inc. has a 1-year low of $52.03 and a 1-year high of $79.84. The firm’s 50 day simple moving average is $72.81 and its two-hundred day simple moving average is $68.25. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.17.

eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.04. eBay had a net margin of 19.78% and a return on equity of 36.60%. The company had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. eBay’s quarterly revenue was up 1.1% compared to the same quarter last year. Research analysts expect that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, May 30th. eBay’s payout ratio is currently 27.62%.

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.