Jacobs Levy Equity Management Inc. Sells 53,569 Shares of eBay Inc. (NASDAQ:EBAY)

by · The Markets Daily

Jacobs Levy Equity Management Inc. trimmed its holdings in eBay Inc. (NASDAQ:EBAY – Free Report) by 6.1% in the third quarter, Holdings Channel reports. The institutional investor owned 818,341 shares of the e-commerce company’s stock after selling 53,569 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in eBay were worth $53,282,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of EBAY. Private Advisor Group LLC boosted its position in shares of eBay by 90.7% in the third quarter. Private Advisor Group LLC now owns 45,500 shares of the e-commerce company’s stock valued at $2,963,000 after acquiring an additional 21,636 shares during the period. Cetera Investment Advisers increased its holdings in shares of eBay by 325.4% in the first quarter. Cetera Investment Advisers now owns 79,151 shares of the e-commerce company’s stock worth $4,178,000 after purchasing an additional 60,544 shares during the period. PGGM Investments raised its position in shares of eBay by 88.0% in the second quarter. PGGM Investments now owns 61,115 shares of the e-commerce company’s stock worth $3,283,000 after buying an additional 28,604 shares in the last quarter. Prospera Financial Services Inc grew its position in eBay by 794.2% during the third quarter. Prospera Financial Services Inc now owns 70,616 shares of the e-commerce company’s stock worth $4,598,000 after buying an additional 62,719 shares in the last quarter. Finally, Trustmark National Bank Trust Department purchased a new position in eBay during the third quarter worth about $1,307,000. Institutional investors own 87.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on EBAY. UBS Group decreased their price objective on shares of eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Piper Sandler increased their price target on shares of eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Sanford C. Bernstein raised shares of eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a report on Tuesday, November 5th. Stifel Nicolaus increased their target price on eBay from $56.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Finally, Truist Financial lifted their price target on eBay from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.87.

Check Out Our Latest Report on eBay

Insider Buying and Selling

In related news, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. This represents a 26.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $256,760.14. Following the completion of the transaction, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,016 shares of company stock worth $3,015,417 in the last 90 days. Insiders own 0.38% of the company’s stock.

eBay Stock Performance

Shares of eBay stock opened at $62.94 on Wednesday. eBay Inc. has a 12 month low of $40.16 and a 12 month high of $67.80. The firm has a market capitalization of $30.15 billion, a P/E ratio of 15.81, a P/E/G ratio of 1.66 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The business has a fifty day simple moving average of $63.57 and a two-hundred day simple moving average of $58.58.

eBay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.72%. The ex-dividend date is Friday, November 29th. eBay’s payout ratio is currently 27.14%.

About eBay

(Free Report)

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.

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