CIBC Asset Management Inc Raises Stock Position in eBay Inc. (NASDAQ:EBAY)

CIBC Asset Management Inc raised its stake in shares of eBay Inc. (NASDAQ:EBAY) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,357 shares of the e-commerce company’s stock after purchasing an additional 3,841 shares during the period. CIBC Asset Management Inc’s holdings in eBay were worth $4,711,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of EBAY. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in eBay by 0.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,494 shares of the e-commerce company’s stock worth $3,418,000 after buying an additional 153 shares during the last quarter. Optas LLC raised its holdings in shares of eBay by 0.5% during the third quarter. Optas LLC now owns 34,082 shares of the e-commerce company’s stock valued at $2,219,000 after acquiring an additional 171 shares during the last quarter. Davis Investment Partners LLC raised its holdings in shares of eBay by 0.8% during the third quarter. Davis Investment Partners LLC now owns 23,475 shares of the e-commerce company’s stock valued at $1,531,000 after acquiring an additional 180 shares during the last quarter. Arvest Investments Inc. raised its holdings in shares of eBay by 1.2% during the third quarter. Arvest Investments Inc. now owns 15,205 shares of the e-commerce company’s stock valued at $990,000 after acquiring an additional 183 shares during the last quarter. Finally, Quent Capital LLC raised its holdings in shares of eBay by 6.8% during the first quarter. Quent Capital LLC now owns 3,173 shares of the e-commerce company’s stock valued at $167,000 after acquiring an additional 202 shares during the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.

eBay Stock Down 1.4 %

eBay stock opened at $61.43 on Monday. The stock has a market cap of $29.42 billion, a PE ratio of 15.43, a P/E/G ratio of 1.60 and a beta of 1.34. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s fifty day moving average is $63.53 and its two-hundred day moving average is $57.55. eBay Inc. has a 1-year low of $38.97 and a 1-year high of $67.80.

eBay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.76%. The ex-dividend date is Friday, November 29th. eBay’s payout ratio is 27.14%.

Insider Activity at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $59.91, for a total transaction of $336,993.75. Following the sale, the chief executive officer now owns 548,042 shares in the company, valued at approximately $32,833,196.22. The trade was a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen J. Priest sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. This represents a 26.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,016 shares of company stock valued at $3,015,417 over the last three months. 0.38% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on EBAY. Sanford C. Bernstein raised eBay from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a report on Tuesday, November 5th. Truist Financial increased their price target on eBay from $58.00 to $62.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. UBS Group cut their price target on eBay from $72.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus increased their price target on eBay from $56.00 to $64.00 and gave the company a “hold” rating in a report on Monday, October 28th. Finally, StockNews.com cut eBay from a “buy” rating to a “hold” rating in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, eBay presently has an average rating of “Hold” and a consensus target price of $62.87.

About eBay

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.