Impax Asset Management Group plc Invests $6.89 Million in eBay Inc. (NASDAQ:EBAY)

Impax Asset Management Group plc purchased a new position in shares of eBay Inc. (NASDAQ:EBAY) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 105,876 shares of the e-commerce company’s stock, valued at approximately $6,894,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of eBay by 0.3% during 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 acquiring an additional 153 shares during the period. Optas LLC grew its stake in shares of eBay by 0.5% during the 3rd quarter. Optas LLC now owns 34,082 shares of the e-commerce company’s stock worth $2,219,000 after acquiring an additional 171 shares during the period. Davis Investment Partners LLC grew its stake in shares of eBay by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 23,475 shares of the e-commerce company’s stock worth $1,531,000 after acquiring an additional 180 shares during the period. Arvest Investments Inc. lifted its holdings in eBay by 1.2% during the 3rd quarter. Arvest Investments Inc. now owns 15,205 shares of the e-commerce company’s stock worth $990,000 after purchasing an additional 183 shares in the last quarter. Finally, Quent Capital LLC lifted its holdings in eBay by 6.8% during the 1st quarter. Quent Capital LLC now owns 3,173 shares of the e-commerce company’s stock worth $167,000 after purchasing an additional 202 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on eBay from $63.00 to $62.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. Sanford C. Bernstein raised eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a report on Tuesday, November 5th. Bank of America dropped their price objective on eBay from $67.00 to $64.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Citigroup increased their price objective on eBay from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $62.00 price target on shares of eBay in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, eBay has a consensus rating of “Hold” and a consensus price target of $62.87.

Insider Buying and Selling

In other news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $59.91, for a total value of $336,993.75. Following the sale, the chief executive officer now directly owns 548,042 shares in the company, valued at approximately $32,833,196.22. This trade represents a 1.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen J. Priest sold 25,000 shares of eBay stock in a transaction that occurred on Monday, September 16th. The stock was 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 in the company, valued at approximately $4,494,918.12. This represents a 26.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,016 shares of company stock worth $3,015,417 in the last ninety days. 0.38% of the stock is owned by insiders.

eBay Price Performance

EBAY opened at $61.43 on Friday. The stock’s 50 day simple moving average is $63.49 and its 200 day simple moving average is $57.40. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. eBay Inc. has a 1 year low of $38.97 and a 1 year high of $67.80. The firm has a market cap of $29.42 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 2.03 and a beta of 1.34.

eBay Announces Dividend

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

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.