Norges Bank acquires new shares in eBay Inc. (NASDAQ:EBAY)

Norges Bank has purchased a new position in eBay Inc., according to its latest Form 13F filing with the Securities and Exchange Commission (SEC). (NASDAQ:EBAY – Free Report) in the fourth quarter. The company bought 1,215,464 shares of the e-commerce company’s stock valued at approximately $53,019,000. According to its most recent filing with the Securities and Exchange Commission (SEC), Norges Bank owned approximately 0.23% of eBay.

Several other institutional investors and hedge funds also bought and sold EBAY shares. Ameriprise Financial Inc. strengthened its position on eBay by 39.8% in the third quarter. Ameriprise Financial Inc. now owns 12,418,131 shares of the e-commerce company’s stock valued at $547,516,000 after purchasing an additional 3,534,030 shares in the last quarter. In the fourth quarter, Pacer Advisors Inc. increased its stake in eBay shares by 34.3%. Pacer Advisors Inc. now owns 5,839,329 shares of the e-commerce company’s stock valued at $254,712,000 after purchasing an additional 1,491,485 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of eBay by 22.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,248,438 shares of the e-commerce company’s stock valued at $272,551,000 after purchasing an additional 1,141,288 shares during the period. Invesco Ltd. increased its holdings in shares of eBay by 16.0% during the third quarter. Invesco Ltd. now owns 8,182,095 shares of the e-commerce company’s stock valued at $360,749,000 after purchasing an additional 1,130,089 shares during the period. Finally, Boston Partners increased its holdings in shares of eBay by 17.7% in the third quarter. Boston Partners now owns 3,980,512 shares of the e-commerce company’s stock valued at $175,451,000 after purchasing an additional 599,607 shares during the period. 87.48% of the shares are held by hedge funds and other institutional investors.

Insider Activity on eBay

In related news, Vice President Marie Oh Huber sold 49,070 shares of the company’s stock in a transaction on Friday, May 3. The shares were sold at an average price of $49.63, for a total transaction amount of $2,435,344.10. Following the completion of the transaction, the senior vice president now owns 177,391 shares of the company’s stock, valued at approximately $8,803,915.33. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.38% of the shares are owned by company insiders.

eBay Pricing Performance

On Wednesday, eBay shares closed at $52.90. The market value of the company’s stock is $26.77 billion, its price-to-earnings ratio is 10.54, its price-to-earnings growth ratio is 2.51, and its beta is 1.31. The company has a debt to equity ratio of 0.98, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a 50-day moving average price of $51.56 and a 200-day moving average price of $46.31. eBay Inc. it has a 1-year low of $37.17 and a 1-year high of $55.15.

eBay (NASDAQ:EBAY – Get Free Report) last announced its earnings on Wednesday, May 1st. The e-commerce company reported $1.25 per share for the quarter, missing the analyst consensus estimate of $1.20 by $0.05. The company had revenue of $2.56 billion for the quarter, compared to analyst expectations of $2.53 billion. eBay achieved a return on equity of 29.11% and a net margin of 25.97%. The company’s quarterly revenues increased by 1.8% year-on-year. During the same quarter last year, the company earned $0.87 EPS. Stock analysts expect that eBay Inc. will see 3.72 EPS for the current year.

eBay said its board of directors initiated a stock repurchase plan on Tuesday, February 27, which allows the company to repurchase $2.00 billion in stock. This repurchase authority allows the e-commerce company to purchase up to 8.1% of its shares through open market purchases. Share repurchase plans typically indicate that a company’s management believes its shares are undervalued.

eBay announces dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14. Investors of record will receive a dividend of $0.27 per share on Friday, May 31. This represents a dividend of $1.08 on an annualized basis and a yield of 2.04%. The ex-dividend date for this dividend is Friday, May 31st. eBay’s payout rate is currently 21.51%.

Changes in analyst ratings

Several research analysts have recently commented on EBAY stock. Susquehanna increased their price target on eBay from $43.00 to $52.00 and gave the stock a “neutral” rating in a research note on Thursday, February 29th. On Friday, May 3, StockNews.com downgraded eBay from “buy” to “hold.” Wells Fargo & Company increased their price target on eBay from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4. Robert W. Baird raised their price target on eBay from $50.00 to $57.00 and gave the company an “outperform” rating in a research note on Thursday, May 2. Finally, UBS Group increased their price target on eBay from $46.00 to $47.00 and gave the company a “Neutral” rating in a research note on Wednesday, February 28th. One of the equity market research analysts gave the company’s shares a sell recommendation, eleven gave a hold recommendation, and seven gave a buy recommendation. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $51.45.

Check out our latest report on EBAY

About eBay

(free report)

eBay Inc., together with its subsidiaries, operates marketplaces that connect buyers and sellers in the United States, United Kingdom, China, Germany and around the world. The company’s marketplace includes an online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile applications.

Insider Activity on eBay

eBay Pricing Performance

eBay announces dividend

Changes in analyst ratings

About eBay

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