Convergence Investment Partners LLC Decreases Holdings in eBay Inc. (NASDAQ:EBAY)

Convergence Investment Partners LLC decreased its holdings in eBay Inc. (NASDAQ:EBAY - Free Report) by 80.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,845 shares of the e-commerce company's stock after selling 11,410 shares during the quarter. Convergence Investment Partners LLC's holdings in eBay were worth $153,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of eBay in the 2nd quarter worth $26,000. LRI Investments LLC bought a new stake in eBay in the 1st quarter worth about $29,000. Hobbs Group Advisors LLC bought a new stake in eBay in the 2nd quarter worth about $29,000. Washington Trust Advisors Inc. purchased a new stake in eBay in the 1st quarter valued at about $30,000. Finally, Jones Financial Companies Lllp lifted its position in shares of eBay by 73.5% during the 4th quarter. Jones Financial Companies Lllp now owns 732 shares of the e-commerce company's stock worth $32,000 after buying an additional 310 shares in the last quarter. Institutional investors and hedge funds own 87.48% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EBAY. Jefferies Financial Group upped their target price on eBay from $50.00 to $55.00 and gave the company a "hold" rating in a report on Thursday, May 30th. Truist Financial raised their target price on eBay from $50.00 to $58.00 and gave the company a "hold" rating in a research report on Tuesday, August 6th. Wolfe Research started coverage on shares of eBay in a report on Tuesday, July 16th. They issued a "peer perform" rating on the stock. Evercore ISI increased their price target on shares of eBay from $47.00 to $53.00 and gave the company an "in-line" rating in a research report on Thursday, August 1st. Finally, Morgan Stanley lifted their price objective on shares of eBay from $61.00 to $64.00 and gave the stock an "overweight" rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, eBay currently has an average rating of "Hold" and an average target price of $56.65.

eBay Price Performance

eBay stock traded up $0.15 during midday trading on Wednesday, reaching $58.95. 3,775,176 shares of the stock were exchanged, compared to its average volume of 5,541,339. eBay Inc. has a 52 week low of $37.17 and a 52 week high of $59.85. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $29.59 billion, a PE ratio of 11.79, a PEG ratio of 2.30 and a beta of 1.31. The company's fifty day moving average is $55.35 and its 200-day moving average is $52.67.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.08 annualized dividend and a dividend yield of 1.83%. eBay's payout ratio is currently 21.51%.

Insider Buying and Selling

In related news, SVP Edward O. Garcia sold 986 shares of the business's stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $52.85, for a total transaction of $52,110.10. Following the completion of the transaction, 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 document filed with the SEC, which is available through this link. In other news, CAO Rebecca Spencer sold 2,083 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 4,109 shares of the company's stock, valued at approximately $220,324.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Edward O. Garcia sold 986 shares of the firm's stock in a transaction on Tuesday, June 18th. The shares were 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 in the company, valued at approximately $1,962,109.10. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

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.