Intech Investment Management LLC Sells 10,776 Shares of eBay Inc. (NASDAQ:EBAY)

Intech Investment Management LLC cut its position in eBay Inc. (NASDAQ:EBAY) by 30.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 25,146 shares of the e-commerce company’s stock after selling 10,776 shares during the period. Intech Investment Management LLC’s holdings in eBay were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of eBay in the second quarter valued at about $26,000. Tortoise Investment Management LLC grew its position in shares of eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 465 shares in the last quarter. LRI Investments LLC bought a new position in shares of eBay during the first quarter worth approximately $29,000. Hobbs Group Advisors LLC acquired a new stake in shares of eBay in the second quarter valued at approximately $29,000. Finally, Washington Trust Advisors Inc. bought a new stake in shares of eBay in the first quarter valued at approximately $30,000. 87.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at eBay

In other eBay news, CFO Stephen J. Priest sold 25,000 shares of eBay stock in a transaction dated 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 transaction, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 70,332 shares in the company, valued at $4,494,918.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cornelius Boone sold 3,974 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 70,113 shares in the company, valued at $4,530,000.93. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on EBAY shares. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of eBay in a research note on Monday. Wells Fargo & Company dropped their price target on eBay from $57.00 to $55.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Susquehanna increased their price objective on shares of eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Citigroup raised their target price on shares of eBay from $64.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Benchmark upped their price target on shares of eBay from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $57.29.

eBay Stock Performance

Shares of EBAY stock opened at $65.44 on Wednesday. The firm has a market capitalization of $32.85 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 2.35 and a beta of 1.32. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.12. The business’s 50-day moving average price is $57.98 and its 200-day moving average price is $54.29. eBay Inc. has a 12 month low of $37.17 and a 12 month high of $65.44.

eBay (NASDAQ:EBAY) last posted its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 EPS for the quarter, hitting the consensus estimate of $0.88. eBay had a net margin of 26.41% and a return on equity of 29.69%. The business had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.53 billion. Equities research analysts forecast that eBay Inc. will post 3.86 EPS for the current year.

eBay Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.08 annualized dividend and a dividend yield of 1.65%. eBay’s dividend payout ratio is 21.51%.

eBay Company Profile

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.