Oppenheimer & Co. Inc. Makes New Investment in eBay Inc. (NASDAQ:EBAY)

Oppenheimer & Co. Inc. acquired a new stake in shares of eBay Inc. (NASDAQ:EBAY) during the third quarter, HoldingsChannel reports. The firm acquired 3,926 shares of the e-commerce company’s stock, valued at approximately $256,000.

A number of other large investors have also modified their holdings of EBAY. Ameriprise Financial Inc. boosted its stake in eBay by 17.6% during the second quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock worth $1,394,797,000 after buying an additional 3,880,649 shares in the last quarter. Mirova US LLC increased its stake in eBay by 2.1% in the second quarter. Mirova US LLC now owns 9,170,829 shares of the e-commerce company’s stock valued at $492,657,000 after acquiring an additional 189,505 shares during the period. Victory Capital Management Inc. raised its position in eBay by 12.5% in the second quarter. Victory Capital Management Inc. now owns 7,536,843 shares of the e-commerce company’s stock worth $404,879,000 after purchasing an additional 838,969 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in eBay by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,723,503 shares of the e-commerce company’s stock worth $361,159,000 after purchasing an additional 530,941 shares during the period. Finally, LSV Asset Management lifted its stake in eBay by 22.2% during the second quarter. LSV Asset Management now owns 6,705,345 shares of the e-commerce company’s stock worth $360,211,000 after purchasing an additional 1,216,885 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other eBay 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 transaction, the chief financial officer now owns 70,332 shares in the company, valued at approximately $4,494,918.12. This trade represents a 26.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 559,291 shares of the company’s stock, valued at approximately $36,963,542.19. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,016 shares of company stock valued at $3,015,417 over the last ninety days. Insiders own 0.38% of the company’s stock.

Analyst Ratings Changes

EBAY has been the subject of a number of recent research reports. Susquehanna increased their target price on eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Bank of America dropped their price objective on eBay from $67.00 to $64.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Wells Fargo & Company reduced their target price on shares of eBay from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Citigroup upped their target price on shares of eBay from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.87.

eBay Price Performance

eBay stock opened at $63.24 on Friday. The stock has a market cap of $30.29 billion, a price-to-earnings ratio of 15.89, a P/E/G ratio of 1.59 and a beta of 1.34. eBay Inc. has a 12-month low of $40.16 and a 12-month high of $67.80. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The business’s 50-day simple moving average is $63.55 and its 200 day simple moving average is $57.86.

eBay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, November 29th. eBay’s dividend payout ratio is 27.14%.

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.