Intech Investment Management LLC Sells 10,776 Shares of eBay Inc. (NASDAQ:EBAY)

Intech Investment Management LLC lowered its position in shares of eBay Inc. (NASDAQ:EBAY) by 30.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,146 shares of the e-commerce company’s stock after selling 10,776 shares during the quarter. Intech Investment Management LLC’s holdings in eBay were worth $1,351,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in EBAY. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in eBay during the 2nd quarter worth $26,000. Tortoise Investment Management LLC boosted its position in shares of eBay by 894.2% in the 2nd 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 during the last quarter. LRI Investments LLC acquired a new stake in shares of eBay during the first quarter worth $29,000. Hobbs Group Advisors LLC bought a new stake in eBay in the second quarter valued at about $29,000. Finally, Washington Trust Advisors Inc. acquired a new position in eBay in the first quarter valued at about $30,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

Analyst Ratings Changes

EBAY has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their price target on eBay from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company cut their target price 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. Morgan Stanley boosted their price target on shares of eBay from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Susquehanna upped their price objective on shares of eBay from $52.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Wolfe Research assumed coverage on eBay in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $57.29.

eBay Trading Up 3.1 %

eBay stock opened at $65.44 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a 50-day moving average of $57.98 and a 200-day moving average of $54.29. The company has a market cap of $32.85 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 2.35 and a beta of 1.32. eBay Inc. has a one year low of $37.17 and a one year high of $65.44.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. eBay had a return on equity of 29.69% and a net margin of 26.41%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.53 billion. On average, equities analysts expect that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date was Friday, August 30th. eBay’s dividend payout ratio is currently 21.51%.

Insider Activity

In related news, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the sale, the chief financial officer now directly owns 70,332 shares in the company, valued at approximately $4,494,918.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $256,760.14. Following the transaction, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen J. Priest sold 25,000 shares of eBay stock in a transaction on Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the transaction, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

About eBay

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.