Jessup Wealth Management Inc Invests $8.29 Million in eBay Inc. (NASDAQ:EBAY)

11 Oct 2024, 19:22 by Sarita Garza · The Markets Daily

Jessup Wealth Management Inc acquired a new stake in shares of eBay Inc. (NASDAQ:EBAY – Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 127,318 shares of the e-commerce company’s stock, valued at approximately $8,290,000. eBay comprises about 3.8% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 10th largest position.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in eBay by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock worth $3,321,403,000 after purchasing an additional 4,524,934 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in eBay by 17.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock worth $1,394,797,000 after acquiring an additional 3,880,649 shares during the period. Mirova US LLC boosted its holdings in eBay by 2.1% during the second quarter. Mirova US LLC now owns 9,170,829 shares of the e-commerce company’s stock valued at $492,657,000 after acquiring an additional 189,505 shares during the period. Victory Capital Management Inc. grew its holdings in eBay by 12.5% in the 2nd quarter. Victory Capital Management Inc. now owns 7,536,843 shares of the e-commerce company’s stock valued at $404,879,000 after buying an additional 838,969 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of eBay by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 6,723,503 shares of the e-commerce company’s stock valued at $361,159,000 after acquiring an additional 530,941 shares during the period. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wolfe Research initiated coverage on shares of eBay in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Susquehanna increased their price objective on shares of eBay from $52.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Robert W. Baird boosted their price target on eBay from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday. Morgan Stanley upped their price objective on shares of eBay from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Truist Financial lifted their target price on shares of eBay from $50.00 to $58.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $58.05.

Get Our Latest Research Report on eBay

eBay Trading Up 1.3 %

eBay stock traded up $0.84 during midday trading on Friday, hitting $66.89. 292,251 shares of the stock were exchanged, compared to its average volume of 5,490,961. The company has a fifty day simple moving average of $60.66 and a two-hundred day simple moving average of $55.40. 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 market capitalization of $32.71 billion, a PE ratio of 12.83, a P/E/G ratio of 2.59 and a beta of 1.32. eBay Inc. has a 52 week low of $37.17 and a 52 week high of $67.72.

eBay (NASDAQ:EBAY – Get Free Report) last issued its quarterly earnings data 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 return on equity of 29.69% and a net margin of 26.41%. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.53 billion. Equities research analysts anticipate that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a $0.27 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.61%. eBay’s dividend payout ratio (DPR) is 20.97%.

Insider Transactions at eBay

In related news, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Cornelius Boone sold 3,974 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $66.09, for a total transaction of $371,756.25. Following the transaction, the chief executive officer now owns 559,291 shares in the company, valued at approximately $36,963,542.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,224 shares of company stock valued at $2,600,666 over the last three months. Company insiders own 0.38% of the company’s stock.

eBay Profile

(Free Report)