Pzena Investment Management LLC Invests $261,000 in eBay Inc. (NASDAQ:EBAY)

Pzena Investment Management LLC acquired a new stake in eBay Inc. (NASDAQ:EBAY) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 3,860 shares of the e-commerce company’s stock, valued at approximately $261,000.

A number of other large investors have also made changes to their positions in the company. Orion Capital Management LLC acquired a new stake in eBay in the 4th quarter worth about $27,000. Abound Financial LLC acquired a new stake in eBay in the first quarter valued at approximately $29,000. Pinney & Scofield Inc. bought a new stake in eBay during the 4th quarter worth $31,000. Itau Unibanco Holding S.A. bought a new position in eBay in the 4th quarter valued at approximately $33,000. Finally, Transce3nd LLC acquired a new position in shares of eBay during the fourth quarter worth $36,000. Institutional investors own 87.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EBAY shares. Susquehanna lifted their target price on eBay from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Monday, May 5th. Citizens Jmp upgraded shares of eBay to a “hold” rating in a report on Thursday, July 10th. Evercore ISI lifted their target price on shares of eBay from $63.00 to $69.00 and gave the stock an “in-line” rating in a research report on Thursday, May 1st. Wedbush restated a “neutral” rating and set a $72.00 price target on shares of eBay in a research note on Wednesday, June 11th. Finally, Piper Sandler upped their price target on eBay from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $68.12.

Insiders Place Their Bets

In other eBay news, CEO Jamie Iannone sold 12,644 shares of the firm’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $79.06, for a total value of $999,634.64. Following the completion of the sale, the chief executive officer owned 325,053 shares of the company’s stock, valued at $25,698,690.18. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $77.38, for a total value of $1,825,935.86. Following the completion of the sale, the senior vice president owned 44,413 shares in the company, valued at approximately $3,436,677.94. The trade was a 34.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 347,222 shares of company stock valued at $25,143,522 over the last three months. 0.64% of the stock is owned by company insiders.

eBay Stock Down 0.2%

EBAY opened at $76.79 on Friday. eBay Inc. has a 52 week low of $53.10 and a 52 week high of $79.84. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. The firm has a 50-day simple moving average of $74.96 and a two-hundred day simple moving average of $69.34. The company has a market capitalization of $35.40 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 2.15 and a beta of 1.26.

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

eBay Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a $0.29 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 1.51%. eBay’s dividend payout ratio is presently 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.