Zega Financial LLC Invests $302,000 in eBay Inc. (NASDAQ:EBAY)

Zega Financial LLC acquired a new stake in eBay Inc. (NASDAQ:EBAY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,627 shares of the e-commerce company’s stock, valued at approximately $302,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of eBay by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock worth $3,321,403,000 after purchasing an additional 4,524,934 shares in the last quarter. M&G Plc purchased a new position in eBay during the first quarter worth $97,557,000. Swedbank AB acquired a new position in shares of eBay in the first quarter worth $73,777,000. LSV Asset Management lifted its position in shares of eBay by 22.2% in the second quarter. LSV Asset Management now owns 6,705,345 shares of the e-commerce company’s stock valued at $360,211,000 after acquiring an additional 1,216,885 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of eBay during the fourth quarter valued at $53,019,000. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

eBay Stock Performance

Shares of EBAY stock opened at $64.88 on Wednesday. The stock has a 50-day moving average of $57.03 and a 200-day moving average of $53.82. eBay Inc. has a one year low of $37.17 and a one year high of $64.96. The stock has a market cap of $32.57 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.25 and a quick ratio of 1.25.

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

eBay Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.66%. eBay’s payout ratio is presently 21.51%.

Insider Activity at eBay

In related news, CFO Stephen J. Priest sold 25,000 shares of the firm’s 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 completion of the transaction, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

EBAY has been the subject of several analyst reports. Wolfe Research started coverage on shares of eBay in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. Daiwa America raised shares of eBay to a “hold” rating in a research note on Wednesday, August 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $64.00 target price (up from $58.00) on shares of eBay in a research note on Thursday, August 1st. Robert W. Baird increased their price target on eBay from $58.00 to $62.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group upped their target price on eBay from $38.00 to $46.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, eBay currently has an average rating of “Hold” and a consensus price target of $56.90.

eBay 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.