Vestcor Inc Buys 2,440 Shares of eBay Inc. (NASDAQ:EBAY)

Vestcor Inc boosted its stake in shares of eBay Inc. (NASDAQ:EBAY) by 29.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,857 shares of the e-commerce company’s stock after acquiring an additional 2,440 shares during the quarter. Vestcor Inc’s holdings in eBay were worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Orion Capital Management LLC purchased a new stake in shares of eBay during the fourth quarter valued at approximately $27,000. Abound Financial LLC bought a new stake in eBay during the 1st quarter valued at $29,000. Pinney & Scofield Inc. purchased a new stake in eBay during the 4th quarter valued at $31,000. Itau Unibanco Holding S.A. bought a new stake in eBay in the 4th quarter worth $33,000. Finally, Transce3nd LLC bought a new stake in eBay in the 4th quarter worth $36,000. 87.48% of the stock is currently owned by institutional investors.

eBay Price Performance

EBAY opened at $91.74 on Friday. The firm has a market cap of $42.29 billion, a PE ratio of 20.21, a P/E/G ratio of 2.43 and a beta of 1.27. The stock has a 50-day moving average price of $77.42 and a 200-day moving average price of $70.72. eBay Inc. has a 1 year low of $54.55 and a 1 year high of $92.79. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.00 and a quick ratio of 1.17.

eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. eBay had a net margin of 20.86% and a return on equity of 38.97%. The business had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the previous year, the company earned $1.18 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts predict that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.3%. eBay’s dividend payout ratio (DPR) is presently 25.55%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of eBay in a report on Thursday, May 1st. Wells Fargo & Company set a $84.00 price target on eBay and gave the company an “equal weight” rating in a research report on Thursday. Cfra Research upgraded eBay to a “moderate buy” rating in a research report on Thursday, June 5th. Benchmark upped their target price on eBay from $78.00 to $100.00 and gave the company a “buy” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on eBay from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, July 23rd. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $77.69.

Insiders Place Their Bets

In other news, SVP Cornelius Boone sold 2,985 shares of the company’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $78.67, for a total transaction of $234,829.95. Following the transaction, the senior vice president directly owned 92,053 shares of the company’s stock, valued at $7,241,809.51. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Julie A. Loeger sold 92,895 shares of eBay stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $72.06, for a total value of $6,694,013.70. Following the completion of the sale, the senior vice president owned 123,282 shares of the company’s stock, valued at $8,883,700.92. The trade was a 42.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 337,222 shares of company stock worth $24,463,922 in the last 90 days. 0.64% of the stock is currently owned by company insiders.

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.