Pitcairn Co. lowered its stake in eBay Inc. (NASDAQ:EBAY – Free Report) by 23.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,897 shares of the e-commerce company’s stock after selling 13,048 shares during the period. Pitcairn Co.’s holdings in eBay were worth $3,811,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Miracle Mile Advisors LLC lifted its stake in shares of eBay by 0.4% in the 3rd quarter. Miracle Mile Advisors LLC now owns 29,151 shares of the e-commerce company’s stock valued at $2,651,000 after acquiring an additional 118 shares during the last quarter. Garrett Wealth Advisory Group LLC increased its holdings in eBay by 3.8% in the 2nd quarter. Garrett Wealth Advisory Group LLC now owns 3,278 shares of the e-commerce company’s stock worth $244,000 after purchasing an additional 119 shares in the last quarter. Groupe la Francaise raised its position in eBay by 8.2% in the second quarter. Groupe la Francaise now owns 1,621 shares of the e-commerce company’s stock valued at $121,000 after purchasing an additional 123 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of eBay by 9.0% during the second quarter. Parkside Financial Bank & Trust now owns 1,666 shares of the e-commerce company’s stock valued at $124,000 after purchasing an additional 137 shares in the last quarter. Finally, Empower Advisory Group LLC grew its holdings in shares of eBay by 3.5% during the second quarter. Empower Advisory Group LLC now owns 4,566 shares of the e-commerce company’s stock worth $340,000 after purchasing an additional 153 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.
eBay Price Performance
Shares of NASDAQ EBAY opened at $93.04 on Friday. The company has a market capitalization of $41.68 billion, a PE ratio of 21.39, a P/E/G ratio of 1.90 and a beta of 1.38. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.30. eBay Inc. has a twelve month low of $58.71 and a twelve month high of $101.15. The firm has a fifty day simple moving average of $89.18 and a 200 day simple moving average of $88.84.
eBay Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.3%. This is a boost from eBay’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, March 6th. eBay’s payout ratio is presently 26.67%.
Wall Street Analysts Forecast Growth
EBAY has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on shares of eBay from $98.00 to $101.00 and gave the company an “equal weight” rating in a report on Thursday, February 19th. BMO Capital Markets reaffirmed an “outperform” rating and set a $120.00 price target on shares of eBay in a research note on Thursday, February 19th. Truist Financial set a $94.00 price target on shares of eBay and gave the stock a “hold” rating in a report on Thursday, February 19th. Weiss Ratings reissued a “buy (b)” rating on shares of eBay in a research note on Monday, December 29th. Finally, UBS Group set a $96.00 target price on eBay in a research report on Thursday, February 19th. Fourteen research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, eBay has a consensus rating of “Hold” and a consensus target price of $97.75.
Check Out Our Latest Stock Analysis on eBay
Insiders Place Their Bets
In other eBay news, SVP Jordan Douglas Bradle Sweetnam sold 33,441 shares of the stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $91.99, for a total transaction of $3,076,237.59. Following the transaction, the senior vice president directly owned 4,733 shares in the company, valued at approximately $435,388.67. This represents a 87.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cornelius Boone sold 4,462 shares of eBay stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $83.94, for a total transaction of $374,540.28. Following the completion of the sale, the senior vice president owned 91,921 shares of the company’s stock, valued at $7,715,848.74. This represents a 4.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 44,593 shares of company stock valued at $3,998,870 in the last ninety days. 0.64% of the stock is owned by corporate insiders.
eBay Company Profile
eBay Inc is a global e-commerce company that operates an online marketplace connecting individual consumers and businesses for the sale and purchase of new, used and collectible goods. Founded in 1995 by Pierre Omidyar and headquartered in San Jose, California, eBay grew from its early auction-style site into a diversified platform offering both auction-format listings and fixed-price “Buy It Now” transactions. The company completed an initial public offering in the late 1990s and has since evolved its platform and services to support a broad range of product categories and buyer preferences.
The company’s core business centers on its marketplace platform, which provides listing, search and transaction capabilities for millions of items across consumer goods, electronics, fashion, collectibles and more.
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