Harris Associates L P Lowers Holdings in eBay Inc. (NASDAQ:EBAY)

Harris Associates L P decreased its position in eBay Inc. (NASDAQ:EBAY) by 51.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,261,329 shares of the e-commerce company’s stock after selling 2,405,770 shares during the quarter. Harris Associates L P’s holdings in eBay were worth $147,235,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in EBAY. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of eBay by 0.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,494 shares of the e-commerce company’s stock valued at $3,418,000 after buying an additional 153 shares during the last quarter. Optas LLC raised its position in eBay by 0.5% in the third quarter. Optas LLC now owns 34,082 shares of the e-commerce company’s stock worth $2,219,000 after purchasing an additional 171 shares in the last quarter. Davis Investment Partners LLC raised its holdings in shares of eBay by 0.8% in the third quarter. Davis Investment Partners LLC now owns 23,475 shares of the e-commerce company’s stock valued at $1,531,000 after buying an additional 180 shares during the last quarter. Arvest Investments Inc. lifted its stake in shares of eBay by 1.2% in the 3rd quarter. Arvest Investments Inc. now owns 15,205 shares of the e-commerce company’s stock valued at $990,000 after purchasing an additional 183 shares during the period. Finally, Marco Investment Management LLC increased its position in shares of eBay by 2.0% during the third quarter. Marco Investment Management LLC now owns 10,335 shares of the e-commerce company’s stock worth $673,000 after acquiring an additional 200 shares in the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at eBay

In other news, SVP Cornelius Boone sold 3,974 shares of the 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 completion of the sale, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. This represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen J. Priest sold 1,167 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total value of $77,757.21. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 47,016 shares of company stock valued at $3,015,417 in the last quarter. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have issued reports on EBAY. Jefferies Financial Group increased their price objective on shares of eBay from $58.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of eBay in a report on Monday, October 7th. Bank of America decreased their price target on shares of eBay from $67.00 to $64.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. UBS Group lowered their price objective on eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Wells Fargo & Company dropped their target price on eBay from $63.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. 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 company’s stock. According to MarketBeat, eBay presently has a consensus rating of “Hold” and a consensus price target of $62.87.

eBay Price Performance

NASDAQ EBAY opened at $63.17 on Tuesday. eBay Inc. has a 52-week low of $40.16 and a 52-week high of $67.80. The stock has a market cap of $30.26 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.66 and a beta of 1.35. 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 business has a 50 day simple moving average of $63.62 and a 200 day simple moving average of $58.50.

eBay Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 yield of 1.71%. The ex-dividend date of this dividend is Friday, November 29th. eBay’s dividend payout ratio is currently 27.14%.

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.