eBay Inc. (NASDAQ:EBAY) Shares Acquired by Cornerstone Advisors LLC

Cornerstone Advisors LLC grew its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 29.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,000 shares of the e-commerce company’s stock after purchasing an additional 7,300 shares during the quarter. Cornerstone Advisors LLC’s holdings in eBay were worth $2,084,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in EBAY. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of eBay in the 2nd quarter valued at about $26,000. Tortoise Investment Management LLC lifted 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 period. Hobbs Group Advisors LLC acquired a new stake in shares of eBay during the 2nd quarter valued at approximately $29,000. LRI Investments LLC acquired a new position in shares of eBay during the 1st quarter worth $29,000. Finally, USA Financial Formulas purchased a new stake in shares of eBay in the third quarter valued at about $38,000. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

EBAY has been the subject of several recent analyst reports. StockNews.com cut shares of eBay from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Bank of America lowered their price target on eBay from $67.00 to $64.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group boosted their price objective on eBay from $58.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lowered their target price on eBay from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Finally, The Goldman Sachs Group boosted their price target on eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, eBay presently has a consensus rating of “Hold” and a consensus target price of $62.87.

eBay Price Performance

Shares of EBAY opened at $61.51 on Friday. The business’s fifty day moving average is $63.56 and its 200 day moving average is $57.77. eBay Inc. has a 12-month low of $40.16 and a 12-month high of $67.80. The stock has a market cap of $29.46 billion, a P/E ratio of 15.45, a P/E/G ratio of 1.59 and a beta of 1.34. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 yield of 1.76%. eBay’s dividend payout ratio is currently 27.14%.

Insider Buying and Selling

In other news, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total transaction of $77,757.21. Following the sale, the chief financial officer now owns 65,079 shares of the company’s stock, valued at approximately $4,336,213.77. The trade was a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $66.09, for a total transaction of $371,756.25. Following the completion of the transaction, the chief executive officer now owns 559,291 shares of the company’s stock, valued at approximately $36,963,542.19. The trade was a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,016 shares of company stock worth $3,015,417. Corporate insiders own 0.38% of the company’s stock.

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.