Spire Wealth Management Sells 437 Shares of eBay Inc. (NASDAQ:EBAY)

Spire Wealth Management cut its stake in shares of eBay Inc. (NASDAQ:EBAY) by 17.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,087 shares of the e-commerce company’s stock after selling 437 shares during the quarter. Spire Wealth Management’s holdings in eBay were worth $93,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in EBAY. China Universal Asset Management Co. Ltd. increased its stake in eBay by 272.2% during the 2nd quarter. China Universal Asset Management Co. Ltd. now owns 603 shares of the e-commerce company’s stock valued at $27,000 after purchasing an additional 441 shares in the last quarter. SkyView Investment Advisors LLC bought a new stake in eBay during the 1st quarter valued at $27,000. Stonebridge Capital Advisors LLC bought a new stake in shares of eBay in the 4th quarter worth $29,000. Gyon Technologies Capital Management LP bought a new stake in shares of eBay in the 4th quarter worth $32,000. Finally, Almanack Investment Partners LLC. bought a new stake in shares of eBay in the 3rd quarter worth $28,000. 85.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at eBay

In other news, SVP Cornelius Boone sold 4,891 shares of eBay stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $43.63, for a total value of $213,394.33. Following the sale, the senior vice president now directly owns 49,845 shares of the company’s stock, valued at $2,174,737.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on EBAY shares. Benchmark reduced their target price on shares of eBay from $60.00 to $56.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. Barclays dropped their price objective on shares of eBay from $59.00 to $55.00 and set an “overweight” rating on the stock in a report on Thursday, July 27th. Truist Financial decreased their price objective on shares of eBay from $54.00 to $47.00 and set a “hold” rating on the stock in a research report on Wednesday, November 8th. Piper Sandler increased their price target on shares of eBay from $53.00 to $55.00 in a research report on Thursday, July 27th. Finally, Bank of America dropped their price target on eBay from $54.00 to $52.00 in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $48.47.

eBay Trading Down 1.7 %

eBay stock opened at $39.45 on Tuesday. eBay Inc. has a one year low of $37.17 and a one year high of $52.23. The stock has a market cap of $20.99 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 2.10 and a beta of 1.33. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.16 and a current ratio of 2.16. The stock has a 50-day moving average of $41.67 and a two-hundred day moving average of $43.66.

eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Tuesday, November 7th. The e-commerce company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.03. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.51 billion. eBay had a return on equity of 32.03% and a net margin of 26.99%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.82 earnings per share. On average, research analysts anticipate that eBay Inc. will post 3.3 EPS for the current fiscal year.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, November 30th. eBay’s dividend payout ratio is presently 19.76%.

eBay Company Profile

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.