Choreo LLC Takes $868,000 Position in eBay Inc. (NASDAQ:EBAY)

Choreo LLC acquired a new stake in shares of eBay Inc. (NASDAQ:EBAY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 16,420 shares of the e-commerce company’s stock, valued at approximately $868,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in eBay during the second quarter valued at about $26,000. Tortoise Investment Management LLC grew its position in shares of eBay by 894.2% during the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 465 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in eBay during the 2nd quarter valued at approximately $29,000. Washington Trust Advisors Inc. purchased a new position in eBay in the 1st quarter worth approximately $30,000. Finally, LRI Investments LLC bought a new position in eBay in the 1st quarter worth approximately $29,000. 87.48% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at eBay

In other news, SVP Edward O. Garcia sold 986 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $52.85, for a total value of $52,110.10. Following the transaction, the senior vice president now directly owns 37,126 shares in the company, valued at $1,962,109.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Evercore ISI boosted their target price on shares of eBay from $47.00 to $53.00 and gave the stock an “in-line” rating in a report on Thursday, August 1st. Wells Fargo & Company decreased their price target on shares of eBay from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 1st. Jefferies Financial Group raised their price objective on eBay from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Cantor Fitzgerald assumed coverage on eBay in a research report on Thursday, September 5th. They issued a “neutral” rating and a $62.00 target price on the stock. Finally, StockNews.com cut eBay from a “buy” rating to a “hold” rating in a report on Monday, September 9th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, eBay currently has an average rating of “Hold” and a consensus target price of $56.90.

eBay Trading Up 0.4 %

EBAY opened at $63.44 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25. The stock’s 50 day moving average price is $56.55 and its 200-day moving average price is $53.48. eBay Inc. has a one year low of $37.17 and a one year high of $63.90. The stock has a market cap of $31.02 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 2.35 and a beta of 1.32.

eBay Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a yield of 1.70%. eBay’s payout ratio is 21.51%.

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.