Yacktman Asset Management LP Trims Stock Position in eBay Inc. (NASDAQ:EBAY)

Yacktman Asset Management LP lessened its position in shares of eBay Inc. (NASDAQ:EBAY) by 7.5% during the third quarter, HoldingsChannel.com reports. The fund owned 2,717,484 shares of the e-commerce company’s stock after selling 218,859 shares during the period. eBay makes up approximately 1.8% of Yacktman Asset Management LP’s holdings, making the stock its 25th largest holding. Yacktman Asset Management LP’s holdings in eBay were worth $176,935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of eBay during the 2nd quarter valued at about $26,000. Tortoise Investment Management LLC raised its stake 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 purchasing an additional 465 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in eBay in the second quarter valued at approximately $29,000. Washington Trust Advisors Inc. bought a new stake in eBay during the first quarter valued at approximately $30,000. Finally, LRI Investments LLC purchased a new position in eBay in the 1st quarter worth approximately $29,000. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at eBay

In other news, SVP Cornelius Boone sold 3,974 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the sale, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CFO Stephen J. Priest sold 25,000 shares of the business’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 completion of the sale, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction dated 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 directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,391 shares of company stock valued at $2,678,424 in the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

EBAY has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of eBay from $63.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft reduced their price objective on eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday. Bank of America reduced their price target on shares of eBay from $67.00 to $64.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. UBS Group lowered their price objective on shares of eBay from $72.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, Jefferies Financial Group increased their target price on shares of eBay from $58.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, eBay has an average rating of “Hold” and an average target price of $62.22.

eBay Trading Up 3.6 %

Shares of NASDAQ EBAY opened at $60.23 on Tuesday. eBay Inc. has a 1 year low of $37.17 and a 1 year high of $67.80. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a 50-day moving average of $63.01 and a 200 day moving average of $56.89. The stock has a market cap of $28.85 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 1.90 and a beta of 1.34.

eBay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors 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 dividend yield of 1.79%. eBay’s payout ratio is currently 27.14%.

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.