Victory Capital Management Inc. Sells 1,683,239 Shares of eBay Inc. (NASDAQ:EBAY)

Victory Capital Management Inc. cut its holdings in eBay Inc. (NASDAQ:EBAY - Free Report) by 22.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,853,604 shares of the e-commerce company's stock after selling 1,683,239 shares during the period. Victory Capital Management Inc. owned approximately 1.22% of eBay worth $381,128,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of eBay in the 2nd quarter worth about $26,000. Tortoise Investment Management LLC increased its position in eBay by 894.2% in the 2nd 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 stake in eBay in the 2nd quarter valued at about $29,000. LRI Investments LLC bought a new stake in eBay in the 1st quarter valued at about $29,000. Finally, USA Financial Formulas bought a new stake in eBay in the 3rd quarter valued at about $38,000. 87.48% of the stock is owned by institutional investors.

eBay Trading Down 1.5 %

Shares of NASDAQ EBAY traded down $0.93 during trading hours on Tuesday, hitting $61.50. The company's stock had a trading volume of 4,006,802 shares, compared to its average volume of 5,434,164. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $29.46 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 2.03 and a beta of 1.34. eBay Inc. has a 12 month low of $38.60 and a 12 month high of $67.80. The business has a 50-day simple moving average of $63.31 and a 200-day simple moving average of $57.27.

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 annualized dividend and a yield of 1.76%. eBay's payout ratio is 27.14%.

Insider Buying and Selling at eBay

In other eBay news, CFO Stephen J. Priest sold 25,000 shares of eBay stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the sale, the chief financial officer now directly owns 70,332 shares of the company's stock, valued at approximately $4,494,918.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Jamie Iannone sold 5,625 shares of the business's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $66.09, for a total value of $371,756.25. Following the completion of the transaction, the chief executive officer now directly owns 559,291 shares in the company, valued at $36,963,542.19. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen J. Priest sold 25,000 shares of eBay stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the completion of the sale, the chief financial officer now directly owns 70,332 shares of the company's stock, valued at approximately $4,494,918.12. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,016 shares of company stock valued at $3,015,417. 0.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EBAY shares. Citigroup boosted their target price on eBay from $65.00 to $68.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Mizuho boosted their target price on eBay from $55.00 to $60.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. UBS Group cut their target price on eBay from $72.00 to $66.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Sanford C. Bernstein upgraded eBay from a "market perform" rating to an "outperform" rating and set a $70.00 target price on the stock in a research note on Tuesday, November 5th. Finally, Morgan Stanley boosted their target price on eBay from $65.00 to $71.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, eBay has an average rating of "Hold" and an average price target of $62.87.

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.