eBay Inc. (NASDAQ:EBAY) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in eBay Inc. (NASDAQ:EBAY) by 5.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 reporting period.

A number of other institutional investors have also modified their holdings of EBAY. Ameriprise Financial Inc. increased its holdings in shares of eBay by 17.6% in the second quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock valued at $1,394,797,000 after purchasing an additional 3,880,649 shares during the period. Swedbank AB acquired a new position in shares of eBay in the first quarter valued at approximately $73,777,000. Altshuler Shaham Ltd acquired a new position in shares of eBay in the second quarter valued at approximately $71,593,000. LSV Asset Management increased its holdings in shares of 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, Renaissance Technologies LLC acquired a new position in eBay during the second quarter worth $49,924,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

eBay Stock Performance

NASDAQ EBAY opened at $61.43 on Monday. The company has a market capitalization of $29.42 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 1.60 and a beta of 1.34. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The business’s 50-day moving average price is $63.53 and its 200 day moving average price is $57.55. eBay Inc. has a twelve month low of $38.97 and a twelve month high of $67.80.

eBay Dividend Announcement

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

Insiders Place Their Bets

In other eBay news, SVP Cornelius Boone sold 3,974 shares of the company’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 completion of the sale, the senior vice president now directly owns 70,113 shares in the company, valued at $4,530,000.93. This represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $59.91, for a total value of $336,993.75. Following the completion of the sale, the chief executive officer now owns 548,042 shares of the company’s stock, valued at approximately $32,833,196.22. This trade represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,016 shares of company stock worth $3,015,417 over the last three months. 0.38% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EBAY. 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. Benchmark reaffirmed a “buy” rating and set a $65.00 price objective on shares of eBay in a report on Tuesday, October 29th. Susquehanna upped their price objective on eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of eBay in a report on Monday, October 7th. Finally, UBS Group dropped their price objective on eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.87.

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.