Renaissance Technologies LLC Invests $49.92 Million in eBay Inc. (NASDAQ:EBAY)

Renaissance Technologies LLC acquired a new stake in eBay Inc. (NASDAQ:EBAY) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 929,340 shares of the e-commerce company’s stock, valued at approximately $49,924,000.

Several other institutional investors have also added to or reduced their stakes in EBAY. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of eBay in the 2nd quarter valued at $26,000. Tortoise Investment Management LLC boosted its stake in eBay by 894.2% in the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after buying an additional 465 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in eBay in the second quarter valued at about $29,000. Washington Trust Advisors Inc. bought a new position in eBay in the first quarter valued at about $30,000. Finally, LRI Investments LLC bought a new position in shares of eBay in the first quarter worth about $29,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

eBay Stock Up 0.8 %

EBAY stock opened at $64.88 on Wednesday. The stock’s 50 day simple moving average is $57.03 and its 200 day simple moving average is $53.82. The company has a market cap of $32.57 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $64.96.

eBay (NASDAQ:EBAY) last released its quarterly earnings data on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share for the quarter, hitting the consensus estimate of $0.88. eBay had a net margin of 26.41% and a return on equity of 29.69%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.53 billion. On average, research analysts expect that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a yield of 1.66%. eBay’s dividend payout ratio (DPR) is currently 21.51%.

Insider Buying and Selling at eBay

In other news, CFO Stephen J. Priest sold 25,000 shares of the firm’s 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 transaction, the chief financial officer now owns 70,332 shares in the company, valued at $4,494,918.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EBAY shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of eBay from $60.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and set a $64.00 target price (up previously from $58.00) on shares of eBay in a research note on Thursday, August 1st. Morgan Stanley increased their price target on eBay from $61.00 to $64.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. initiated coverage on eBay in a report on Tuesday, June 25th. They set a “neutral” rating and a $60.00 price target on the stock. Finally, Daiwa America upgraded eBay to a “hold” rating in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.90.

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.