Panagora Asset Management Inc. Sells 619,451 Shares of eBay Inc. (NASDAQ:EBAY)

Panagora Asset Management Inc. trimmed its position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 77.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 179,747 shares of the e-commerce company's stock after selling 619,451 shares during the quarter. Panagora Asset Management Inc.'s holdings in eBay were worth $9,656,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of EBAY. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of eBay in the second quarter worth $26,000. Hobbs Group Advisors LLC purchased a new position in eBay in the 2nd quarter valued at about $29,000. Washington Trust Advisors Inc. acquired a new stake in shares of eBay during the 1st quarter worth about $30,000. LRI Investments LLC purchased a new stake in shares of eBay during the first quarter worth about $29,000. Finally, American National Bank grew its holdings in shares of eBay by 200.0% during the first quarter. American National Bank now owns 600 shares of the e-commerce company's stock worth $32,000 after buying an additional 400 shares in the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at eBay

In other eBay news, SVP Edward O. Garcia sold 986 shares of the company's stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $52.85, for a total value of $52,110.10. Following the completion of the sale, the senior vice president now directly owns 37,126 shares in the company, valued at $1,962,109.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Rebecca Spencer sold 2,083 shares of the business's stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $53.62, for a total value of $111,690.46. Following the sale, the chief accounting officer now directly owns 4,109 shares in the company, valued at approximately $220,324.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Edward O. Garcia sold 986 shares of the firm's stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $52.85, for a total transaction of $52,110.10. Following the sale, the senior vice president now owns 37,126 shares of the company's stock, valued at $1,962,109.10. The disclosure for this sale can be found here. Company insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wells Fargo & Company decreased their target price on shares of eBay from $57.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 1st. Susquehanna increased their price target on eBay from $52.00 to $60.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Wolfe Research initiated coverage on eBay in a research report on Tuesday, July 16th. They issued a "peer perform" rating for the company. Piper Sandler reiterated an "overweight" rating and set a $64.00 target price (up from $58.00) on shares of eBay in a research report on Thursday, August 1st. Finally, StockNews.com upgraded eBay from a "buy" rating to a "strong-buy" rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, eBay currently has an average rating of "Hold" and an average price target of $56.65.

eBay Stock Performance

EBAY stock traded up $0.77 during trading on Friday, reaching $59.10. 5,430,169 shares of the company's stock were exchanged, compared to its average volume of 5,559,664. The firm has a market cap of $29.67 billion, a PE ratio of 11.77, a P/E/G ratio of 2.58 and a beta of 1.31. The company's fifty day moving average price is $55.15 and its 200-day moving average price is $52.30. eBay Inc. has a 1-year low of $37.17 and a 1-year high of $59.85. The company has a quick ratio of 1.99, a current ratio of 1.25 and a debt-to-equity ratio of 1.12.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.83%. eBay's dividend payout ratio (DPR) is 21.51%.

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.