Geode Capital Management LLC cut its holdings in eBay Inc. (NASDAQ:EBAY - Free Report) by 3.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,563,636 shares of the e-commerce company's stock after selling 487,409 shares during the quarter. Geode Capital Management LLC owned approximately 2.62% of eBay worth $815,775,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of EBAY. Tortoise Investment Management LLC grew its stake in shares of eBay by 894.2% in the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company's stock worth $28,000 after acquiring an additional 465 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in eBay during the 2nd quarter valued at about $29,000. Quarry LP purchased a new position in eBay in the third quarter worth about $36,000. USA Financial Formulas bought a new position in shares of eBay in the third quarter worth approximately $38,000. Finally, Gradient Investments LLC grew its holdings in shares of eBay by 86.3% during the second quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company's stock valued at $33,000 after buying an additional 284 shares during the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages recently weighed in on EBAY. Citigroup boosted their price objective on shares of eBay from $65.00 to $68.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Morgan Stanley upped their price target on eBay from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price objective on shares of eBay in a report on Thursday, October 31st. TD Cowen upped their target price on shares of eBay from $45.00 to $54.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Finally, Truist Financial raised their price target on shares of eBay from $58.00 to $62.00 and gave the company a "hold" rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $62.63.
Read Our Latest Report on eBay
Insider Buying and Selling at eBay
In other news, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $63.21, for a total transaction of $355,556.25. Following the transaction, the chief executive officer now directly owns 531,167 shares of the company's stock, valued at approximately $33,575,066.07. This represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,641 shares of company stock worth $3,370,974 in the last quarter. 0.38% of the stock is owned by corporate insiders.
eBay Price Performance
EBAY traded up $0.73 on Thursday, hitting $63.90. 3,770,705 shares of the company's stock traded hands, compared to its average volume of 5,303,787. The company's 50 day simple moving average is $63.45 and its 200-day simple moving average is $59.00. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. eBay Inc. has a one year low of $40.16 and a one year high of $67.80. The firm has a market cap of $30.61 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 1.67 and a beta of 1.35.
eBay Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.69%. eBay's payout ratio is 27.14%.
eBay Profile
(
Free Report)
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.
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