Spire Wealth Management Boosts Stock Position in eBay Inc. (NASDAQ:EBAY)

Posted by Defense World Staff on Aug 23rd, 2023

Spire Wealth Management lifted its holdings in eBay Inc. (NASDAQ:EBAY – Free Report) by 173.2% in the first quarter, HoldingsChannel reports. The firm owned 2,524 shares of the e-commerce company’s stock after purchasing an additional 1,600 shares during the quarter. Spire Wealth Management’s holdings in eBay were worth $112,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stonebridge Capital Advisors LLC purchased a new position in shares of eBay in the fourth quarter valued at $29,000. Massmutual Trust Co. FSB ADV lifted its position in eBay by 50.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 691 shares of the e-commerce company’s stock worth $31,000 after buying an additional 233 shares during the last quarter. Gyon Technologies Capital Management LP bought a new stake in eBay in the fourth quarter worth $32,000. Almanack Investment Partners LLC. bought a new stake in eBay in the third quarter worth $28,000. Finally, Global Retirement Partners LLC lifted its position in eBay by 82.4% in the first quarter. Global Retirement Partners LLC now owns 1,149 shares of the e-commerce company’s stock worth $51,000 after buying an additional 519 shares during the last quarter. 85.22% of the stock is owned by hedge funds and other institutional investors.

eBay Price Performance

EBAY opened at $43.27 on Wednesday. The business’s 50-day moving average is $45.01 and its two-hundred day moving average is $44.84. eBay Inc. has a 1 year low of $35.92 and a 1 year high of $52.23. The company has a debt-to-equity ratio of 1.47, a current ratio of 2.45 and a quick ratio of 2.45. The firm has a market capitalization of $23.03 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 1.46 and a beta of 1.36.

eBay (NASDAQ:EBAY – Get Free Report) last posted its earnings results on Wednesday, July 26th. The e-commerce company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. eBay had a return on equity of 34.71% and a net margin of 13.49%. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that eBay Inc. will post 3.27 earnings per share for the current fiscal year.

eBay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, August 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.31%. eBay’s payout ratio is 40.49%.

Insider Transactions at eBay

In other news, SVP Edward O. Garcia sold 5,679 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $43.36, for a total transaction of $246,241.44. Following the sale, the senior vice president now owns 17,988 shares in the company, valued at $779,959.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Rebecca Spencer sold 2,193 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $45.85, for a total transaction of $100,549.05. Following the sale, the chief accounting officer now owns 924 shares in the company, valued at $42,365.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Edward O. Garcia sold 5,679 shares of eBay stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $43.36, for a total value of $246,241.44. Following the sale, the senior vice president now directly owns 17,988 shares of the company’s stock, valued at approximately $779,959.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,053 shares of company stock worth $397,940. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on EBAY shares. Mizuho raised their price target on eBay from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, April 27th. Bank of America lowered their price target on eBay from $54.00 to $52.00 in a research report on Thursday, July 27th. Barclays lowered their price target on eBay from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, July 27th. Sanford C. Bernstein lifted their target price on eBay from $45.00 to $50.00 and gave the stock a “market perform” rating in a research report on Thursday, April 27th. Finally, Credit Suisse Group lifted their target price on eBay from $56.00 to $57.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $49.29.

Check Out Our Latest Report on eBay

About eBay

(Free Report)

eBay Inc operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, and sell various products. The company was founded in 1995 and is headquartered in San Jose, California.