GAMMA Investing LLC Boosts Stake in eBay Inc. (NASDAQ:EBAY)

GAMMA Investing LLC grew its holdings in eBay Inc. (NASDAQ:EBAY) by 54.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,265 shares of the e-commerce company’s stock after purchasing an additional 3,248 shares during the period. GAMMA Investing LLC’s holdings in eBay were worth $603,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in eBay in the second quarter valued at about $26,000. Tortoise Investment Management LLC raised its stake in shares of eBay by 894.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after acquiring an additional 465 shares during the period. LRI Investments LLC purchased a new position in shares of eBay during the 1st quarter worth approximately $29,000. Hobbs Group Advisors LLC purchased a new position in shares of eBay during the 2nd quarter worth approximately $29,000. Finally, Washington Trust Advisors Inc. acquired a new stake in eBay in the 1st quarter valued at approximately $30,000. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $66.56, for a total value of $374,400.00. Following the completion of the sale, the chief executive officer now owns 553,666 shares in the company, valued at approximately $36,852,008.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Cornelius Boone sold 3,974 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $256,760.14. Following the transaction, the senior vice president now owns 70,113 shares of the company’s stock, valued at $4,530,000.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $66.56, for a total value of $374,400.00. Following the sale, the chief executive officer now directly owns 553,666 shares of the company’s stock, valued at approximately $36,852,008.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,224 shares of company stock worth $2,600,666 in the last quarter. 0.38% of the stock is owned by insiders.

eBay Stock Up 0.6 %

EBAY stock opened at $67.17 on Wednesday. The stock has a market cap of $33.72 billion, a P/E ratio of 13.38, a PEG ratio of 2.45 and a beta of 1.32. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.12. eBay Inc. has a twelve month low of $37.17 and a twelve month high of $67.65. The company’s 50 day moving average is $60.01 and its two-hundred day moving average is $55.14.

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

eBay Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.27 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.61%. eBay’s dividend payout ratio (DPR) is presently 21.51%.

Wall Street Analyst Weigh In

EBAY has been the subject of several research analyst reports. Piper Sandler restated an “overweight” rating and set a $64.00 price target (up from $58.00) on shares of eBay in a research report on Thursday, August 1st. Robert W. Baird lifted their target price on eBay from $58.00 to $62.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 price target on shares of eBay in a research report on Monday. Daiwa America raised shares of eBay to a “hold” rating in a research note on Wednesday, August 14th. Finally, Morgan Stanley upped their target price on shares of eBay from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $57.67.

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.