Texas Permanent School Fund Corp Trims Stake in eBay Inc. (NASDAQ:EBAY)

Texas Permanent School Fund Corp lowered its position in eBay Inc. (NASDAQ:EBAY) by 21.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,847 shares of the e-commerce company’s stock after selling 23,410 shares during the quarter. Texas Permanent School Fund Corp’s holdings in eBay were worth $4,504,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Quent Capital LLC raised its stake in shares of eBay by 6.8% in the first quarter. Quent Capital LLC now owns 3,173 shares of the e-commerce company’s stock valued at $167,000 after acquiring an additional 202 shares during the period. Checchi Capital Advisers LLC grew its holdings in shares of eBay by 3.0% in the second quarter. Checchi Capital Advisers LLC now owns 7,547 shares of the e-commerce company’s stock worth $405,000 after purchasing an additional 219 shares during the last quarter. Banco Santander S.A. grew its holdings in shares of eBay by 2.1% in the first quarter. Banco Santander S.A. now owns 11,530 shares of the e-commerce company’s stock worth $609,000 after purchasing an additional 236 shares during the last quarter. Tempus Wealth Planning LLC grew its holdings in shares of eBay by 3.1% in the first quarter. Tempus Wealth Planning LLC now owns 8,539 shares of the e-commerce company’s stock worth $451,000 after purchasing an additional 254 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of eBay by 41.2% in the second quarter. Massmutual Trust Co. FSB ADV now owns 884 shares of the e-commerce company’s stock worth $47,000 after purchasing an additional 258 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wells Fargo & Company cut their price target on shares of eBay from $57.00 to $55.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Wolfe Research assumed coverage on shares of eBay in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. The Goldman Sachs Group upped their price target on shares of eBay from $38.00 to $46.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. StockNews.com cut shares of eBay from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, Benchmark increased their target price on shares of eBay from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, eBay currently has an average rating of “Hold” and an average target price of $56.90.

eBay Stock Up 0.4 %

NASDAQ:EBAY opened at $63.44 on Friday. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $63.90. The stock has a market capitalization of $31.02 billion, a P/E ratio of 12.64, a P/E/G ratio of 2.35 and a beta of 1.32. 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 company’s 50-day simple moving average is $56.55 and its 200-day simple moving average is $53.48.

eBay Dividend Announcement

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

Insider Activity

In related news, SVP Edward O. Garcia sold 986 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $52.85, for a total value of $52,110.10. Following the completion of the transaction, the senior vice president now directly owns 37,126 shares of the company’s stock, valued at approximately $1,962,109.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.