eBay Inc. (NASDAQ:EBAY) Position Reduced by Glenmede Trust Co. NA

Glenmede Trust Co. NA lowered its stake in eBay Inc. (NASDAQ:EBAY) by 30.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 896,906 shares of the e-commerce company’s stock after selling 385,788 shares during the period. Glenmede Trust Co. NA owned 0.19% of eBay worth $58,398,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in eBay during the second quarter valued at approximately $26,000. Tortoise Investment Management LLC increased its holdings in shares of eBay by 894.2% in the 2nd 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. Hobbs Group Advisors LLC acquired a new stake in shares of eBay during the 2nd quarter valued at approximately $29,000. LRI Investments LLC bought a new position in eBay during the first quarter worth $29,000. Finally, USA Financial Formulas acquired a new position in eBay in the third quarter worth $38,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on EBAY shares. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of eBay in a research report on Thursday, October 31st. Evercore ISI lifted their target price on eBay from $47.00 to $53.00 and gave the company an “in-line” rating in a research note on Thursday, August 1st. Benchmark reiterated a “buy” rating and set a $65.00 price target on shares of eBay in a research report on Tuesday, October 29th. Robert W. Baird cut their price target on eBay from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Mizuho increased their target price on eBay from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $62.87.

eBay Stock Performance

Shares of NASDAQ EBAY opened at $65.09 on Wednesday. The business’s 50-day simple moving average is $63.57 and its 200-day simple moving average is $58.18. eBay Inc. has a 52 week low of $40.16 and a 52 week high of $67.80. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $31.18 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.70 and a beta of 1.34.

eBay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, November 29th. eBay’s dividend payout ratio is currently 27.14%.

Insider Buying and Selling

In other news, SVP Cornelius Boone sold 3,974 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 70,113 shares in the company, valued at approximately $4,530,000.93. This trade represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were 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 of the company’s stock, valued at approximately $4,494,918.12. The trade was a 26.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,016 shares of company stock valued at $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.