Independent Franchise Partners LLP Sells 457,530 Shares of eBay Inc. (NASDAQ:EBAY)

Independent Franchise Partners LLP trimmed its stake in eBay Inc. (NASDAQ:EBAY) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,282,584 shares of the e-commerce company’s stock after selling 457,530 shares during the quarter. eBay accounts for 4.6% of Independent Franchise Partners LLP’s portfolio, making the stock its 13th biggest holding. Independent Franchise Partners LLP owned about 1.85% of eBay worth $498,660,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of EBAY. Thurston Springer Miller Herd & Titak Inc. bought a new position in eBay in the 2nd quarter worth about $26,000. Tortoise Investment Management LLC raised its holdings in 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 bought a new position in shares of eBay in the second quarter worth approximately $29,000. Washington Trust Advisors Inc. purchased a new stake in shares of eBay during the first quarter valued at approximately $30,000. Finally, LRI Investments LLC bought a new stake in shares of eBay during the first quarter valued at approximately $29,000. 87.48% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at eBay

In other 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 value of $256,760.14. Following the transaction, the senior vice president now owns 70,113 shares of the company’s stock, valued at $4,530,000.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value 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. 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 the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 70,332 shares in the company, valued at $4,494,918.12. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

eBay Stock Down 0.8 %

EBAY opened at $62.72 on Friday. The stock has a market cap of $31.49 billion, a price-to-earnings ratio of 12.49, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. 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’s fifty day moving average is $57.58 and its 200 day moving average is $54.07. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $64.96.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 EPS for the quarter, meeting analysts’ consensus estimates of $0.88. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.53 billion. eBay had a return on equity of 29.69% and a net margin of 26.41%. On average, sell-side analysts forecast that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.27 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.08 annualized dividend and a yield of 1.72%. eBay’s payout ratio is 21.51%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EBAY. JPMorgan Chase & Co. assumed coverage on eBay in a report on Tuesday, June 25th. They set a “neutral” rating and a $60.00 price target on the stock. Cantor Fitzgerald started coverage on shares of eBay in a research note on Thursday, September 5th. They issued a “neutral” rating and a $62.00 price target for the company. StockNews.com downgraded shares of eBay from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Truist Financial lifted their target price on shares of eBay from $50.00 to $58.00 and gave the stock a “hold” rating in a research report on Tuesday, August 6th. Finally, Wells Fargo & Company decreased their target price on shares of eBay from $57.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.90.

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.