Plato Investment Management Ltd Lowers Stock Holdings in eBay Inc. (NASDAQ:EBAY)

Plato Investment Management Ltd lowered its holdings in eBay Inc. (NASDAQ:EBAY) by 51.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,296 shares of the e-commerce company’s stock after selling 23,170 shares during the period. Plato Investment Management Ltd’s holdings in eBay were worth $1,450,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in EBAY. Thurston Springer Miller Herd & Titak Inc. acquired a new position in eBay in the second quarter valued at $26,000. Tortoise Investment Management LLC boosted 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 valued at $28,000 after acquiring an additional 465 shares during the last quarter. LRI Investments LLC acquired a new position in eBay in the first quarter valued at $29,000. Hobbs Group Advisors LLC acquired a new position in eBay in the second quarter valued at $29,000. Finally, Gradient Investments LLC boosted its holdings in eBay by 86.3% in the second quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock valued at $33,000 after acquiring an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Wall Street Analyst Weigh In

EBAY has been the topic of a number of recent research reports. Piper Sandler boosted their price objective on eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Susquehanna boosted their price target on eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Morgan Stanley boosted their price target on eBay from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Sanford C. Bernstein upgraded eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus boosted their price target on eBay from $56.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, eBay has an average rating of “Hold” and an average target price of $62.87.

eBay Trading Up 0.7 %

Shares of EBAY opened at $62.30 on Friday. eBay Inc. has a 12-month low of $38.97 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 firm has a market capitalization of $29.84 billion, a price-to-earnings ratio of 15.65, a P/E/G ratio of 2.02 and a beta of 1.34. The stock’s 50-day moving average price is $63.42 and its 200 day moving average price is $57.37.

eBay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.27 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.73%. eBay’s dividend payout ratio is currently 27.14%.

Insider Activity

In other news, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 70,332 shares in the company, valued at approximately $4,494,918.12. This represents a 26.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 approximately $4,530,000.93. This represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,016 shares of company stock worth $3,015,417. Company insiders own 0.38% of the company’s stock.

eBay 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.