eBay Inc. $EBAY Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 9.0% during the third quarter, Holdings Channel.com reports. The fund owned 60,259 shares of the e-commerce company’s stock after selling 5,967 shares during the period. New York Life Investment Management LLC’s holdings in eBay were worth $6,390,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. purchased a new position in eBay during the second quarter worth approximately $4,406,897,000. Dimensional Fund Advisors LP grew its holdings in eBay by 1.7% in the first quarter. Dimensional Fund Advisors LP now owns 4,901,415 shares of the e-commerce company’s stock valued at $446,042,000 after purchasing an additional 80,450 shares during the period. Legal & General Group Plc purchased a new stake in shares of eBay in the second quarter valued at approximately $506,653,000. Amundi increased its position in shares of eBay by 26.4% in the second quarter. Amundi now owns 4,014,323 shares of the e-commerce company’s stock valued at $448,601,000 after buying an additional 838,057 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of eBay by 0.8% in the first quarter. Bank of America Corp DE now owns 3,722,253 shares of the e-commerce company’s stock valued at $338,799,000 after buying an additional 30,761 shares in the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Insider Activity at eBay

In other eBay news, SVP Julie A. Loeger sold 41,649 shares of the stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $123.02, for a total value of $5,123,659.98. Following the completion of the sale, the senior vice president owned 112,850 shares in the company, valued at approximately $13,882,807. This represents a 26.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jordan Sweetnam sold 1,014 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $101.39, for a total value of $102,809.46. Following the completion of the sale, the senior vice president directly owned 35,546 shares of the company’s stock, valued at approximately $3,604,008.94. This represents a 2.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 75,993 shares of company stock valued at $8,919,545. 0.67% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on EBAY shares. Sanford C. Bernstein upped their target price on eBay from $115.00 to $125.00 and gave the stock a “market perform” rating in a research note on Thursday, October 29th. BTIG Research began coverage on shares of eBay in a research note on Thursday, October 29th. They issued a “buy” rating on the stock. Oppenheimer set a $150.00 price target on shares of eBay in a report on Thursday, October 29th. Evercore set a $120.00 price objective on shares of eBay in a research report on Thursday, October 29th. Finally, Rosenblatt Securities increased their price objective on shares of eBay from $132.00 to $137.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Seventeen investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $123.52.

Latest eBay News

Investors following EBAY have been watching these news items:

• Positive Sentiment: Archival fashion listings and prices are reportedly climbing, suggesting stronger interest in at least one category on eBay’s marketplace. Article: eBay sees archival fashion listings, prices climb
• Neutral Sentiment: A new SEMA car collection launch prompted a discussion of whether eBay shares are undervalued, but the available article headline does not provide the valuation analysis or its conclusion. Article: Is eBay Undervalued After Its SEMA Car Collection Launch?
• Negative Sentiment: SVP Julie Loeger sold 41,649 shares for about $5.12 million, reducing her position by 26.96%. She still owned 112,850 shares after the sale; insider selling can unsettle investors, though it does not by itself establish a change in the company’s outlook. SEC Form 4 filing

eBay Price Performance

NASDAQ:EBAY opened at $120.14 on Friday. The stock has a 50 day moving average of $113.88 and a two-hundred day moving average of $105.13. eBay Inc. has a 12 month low of $78.03 and a 12 month high of $127.74. The firm has a market cap of $52.74 billion, a P/E ratio of 26.23, a price-to-earnings-growth ratio of 2.91 and a beta of 1.30. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.16.

eBay (NASDAQ:EBAY) last released its earnings results on Wednesday, October 28th. The e-commerce company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.10. The business had revenue of $3.21 billion for the quarter, compared to the consensus estimate of $3.12 billion. eBay had a return on equity of 49.20% and a net margin of 16.84%. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.36 earnings per share. On average, analysts expect that eBay Inc. will post 4.79 earnings per share for the current fiscal year.

eBay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, December 4th. eBay’s dividend payout ratio is currently 27.07%.

About eBay

eBay Inc. operates a global online marketplace that connects buyers and sellers. Its platform supports both auction-style listings and fixed-price sales across a broad range of categories, including electronics, fashion, collectibles, home goods and auto parts. Founded by Pierre Omidyar in 1995 as AuctionWeb, the company adopted the eBay name in 1997. It also provides services and tools for sellers, including advertising, payments and shipping features that support transactions on its marketplace. eBay serves customers and businesses in markets around the world.