New York State Common Retirement Fund decreased its holdings in eBay Inc. (NASDAQ:EBAY - Free Report) by 17.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 356,331 shares of the e-commerce company's stock after selling 77,400 shares during the quarter. New York State Common Retirement Fund owned 0.07% of eBay worth $23,201,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of eBay in the second quarter worth approximately $26,000. Tortoise Investment Management LLC boosted its holdings 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 buying an additional 465 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of eBay in the second quarter worth approximately $29,000. Washington Trust Advisors Inc. purchased a new position in shares of eBay in the first quarter worth approximately $30,000. Finally, LRI Investments LLC purchased a new position in eBay during the first quarter valued at approximately $29,000. Hedge funds and other institutional investors own 87.48% of the company's stock.
Several brokerages have weighed in on EBAY. Robert W. Baird lowered their price target on shares of eBay from $70.00 to $68.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Wolfe Research began coverage on shares of eBay in a report on Tuesday, July 16th. They set a "peer perform" rating on the stock. Susquehanna lifted their price target on shares of eBay from $52.00 to $60.00 and gave the company a "neutral" rating in a report on Friday, August 2nd. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $62.00 price target on shares of eBay in a report on Monday, October 7th. Finally, Morgan Stanley lifted their price target on shares of eBay from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $61.86.
View Our Latest Analysis on eBay
In other eBay news, SVP Cornelius Boone sold 3,974 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction of $256,760.14. Following the transaction, the senior vice president now owns 70,113 shares in the company, valued at $4,530,000.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Stephen J. Priest sold 25,000 shares of the business's stock in a transaction on Monday, September 16th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cornelius Boone sold 3,974 shares of the business's stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction of $256,760.14. Following the sale, the senior vice president now directly owns 70,113 shares of the company's stock, valued at $4,530,000.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,391 shares of company stock worth $2,678,424 over the last quarter. Insiders own 0.38% of the company's stock.
Shares of EBAY opened at $60.23 on Tuesday. The company's fifty day moving average is $63.01 and its 200 day moving average is $56.89. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $67.80. The stock has a market capitalization of $29.45 billion, a PE ratio of 15.13, a P/E/G ratio of 1.79 and a beta of 1.34. 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 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. This represents a $1.08 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Friday, November 29th. eBay's dividend payout ratio (DPR) is 27.14%.
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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