The Manufacturers Life Insurance Company decreased its position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,533,582 shares of the e-commerce company's stock after selling 287,325 shares during the quarter. The Manufacturers Life Insurance Company owned 0.74% of eBay worth $230,072,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of EBAY. Thurston Springer Miller Herd & Titak Inc. acquired a new position in eBay during the second quarter worth about $26,000. Tortoise Investment Management LLC raised its stake in eBay by 894.2% during 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 in the last quarter. Hobbs Group Advisors LLC acquired a new position in eBay during the second quarter worth about $29,000. LRI Investments LLC acquired a new position in eBay during the first quarter worth about $29,000. Finally, USA Financial Formulas acquired a new position in eBay during the third quarter worth about $38,000. Institutional investors own 87.48% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on EBAY. Susquehanna upped their price objective on eBay from $52.00 to $60.00 and gave the company a "neutral" rating in a research note on Friday, August 2nd. Citigroup upped their price objective on eBay from $65.00 to $68.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Wells Fargo & Company lowered their price objective on eBay from $63.00 to $62.00 and set an "equal weight" rating for the company in a research note on Friday, November 1st. TD Cowen upped their price objective on eBay from $45.00 to $54.00 and gave the company a "hold" rating in a research note on Friday, October 25th. Finally, Bank of America lowered their price objective on eBay from $67.00 to $64.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $62.87.
Check Out Our Latest Report on EBAY
Insiders Place Their Bets
In related news, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction 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 directly owns 70,332 shares in the company, valued at $4,494,918.12. This trade represents a 26.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $59.91, for a total value of $336,993.75. Following the completion of the transaction, the chief executive officer now owns 548,042 shares in the company, valued at approximately $32,833,196.22. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,016 shares of company stock worth $3,015,417. Corporate insiders own 0.38% of the company's stock.
eBay Trading Up 0.2 %
Shares of eBay stock traded up $0.10 on Tuesday, reaching $65.09. 3,192,570 shares of the company's stock were exchanged, compared to its average volume of 5,377,566. The company has a market capitalization of $31.18 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.66 and a beta of 1.34. eBay Inc. has a 52 week low of $40.16 and a 52 week high of $67.80. The firm's 50-day moving average is $63.57 and its two-hundred day moving average is $58.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25.
eBay Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, November 29th. eBay's payout ratio is 27.14%.
eBay Profile
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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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