Federated Hermes Inc. increases its position in eBay Inc. (NASDAQ:EBAY)

VaselineSeptember 15, 2024

0 3 minutes read

Federated Hermes Inc. increased its stake in eBay Inc. (NASDAQ:EBAY – Free Report) by 42.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 547,517 shares of the e-commerce company’s stock after purchasing an additional 164,282 shares during the period. Holdings of Federated Hermes Inc. were worth $29,413,000 in eBay at the end of the most recent quarter.

Other large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in eBay by 7.7% in the first quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock valued at $3,321,403,000 after acquiring an additional 4,524,934 shares during the period. M&G Plc acquired a new stake in eBay in the first quarter valued at approximately $97,557,000. Swedbank AB purchased a new stake in eBay in the first quarter valued at approximately $73,777,000. LSV Asset Management boosted its position in 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 purchasing an additional 1,216,885 shares during the period. Finally, Norges Bank acquired a new position in eBay during the fourth quarter valued at $53,019,000. Institutional investors and hedge funds own 87.48% of the company’s shares.

Indoor activity

In related news, SVP Edward O. Garcia sold 986 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $52.85, for a total transaction of $52,110.10. Following the transaction, the senior vice president now owns 37,126 shares in the company, valued at approximately $1,962,109.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.38% of the company’s shares.

eBay inventory performance

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Shares of EBAY stock opened at $63.44 on Friday. The company has a market cap of $31.02 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. eBay Inc. it has a 52 week low of $37.17 and a 52 week high of $63.90. The company has a quick ratio of 1.25, a current ratio of 1.25, and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average price of $56.55 and a 200-day moving average price of $53.54.

eBay (NASDAQ:EBAY – Get Your Free Report ) last posted its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.88. eBay had a net margin of 26.41% and a return on equity of 29.69%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Research analysts predict that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay announces dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.27 per share. This represents a dividend of $1.08 on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Friday, August 30. eBay’s dividend payout ratio (DPR) is currently 21.51%.

Analysts set new price targets

A number of brokerage houses have recently intervened on EBAY. JPMorgan Chase & Co. initiated coverage on eBay in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $60.00 price objective for the company. Goldman Sachs Group boosted their price target on shares of eBay from $38.00 to $46.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Citigroup boosted their price target on shares of eBay from $64.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Morgan Stanley raised their price objective on shares of eBay from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Finally, Benchmark boosted their price target on shares of eBay from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $56.90.

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eBay profile

(Free Report)

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