Harris Associates L P Sells 2,405,770 Shares of eBay Inc. (NASDAQ:EBAY)

Harris Associates L P lessened its holdings in eBay Inc. (NASDAQ:EBAY) by 51.5% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,261,329 shares of the e-commerce company’s stock after selling 2,405,770 shares during the period. Harris Associates L P owned approximately 0.47% of eBay worth $147,235,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Chevy Chase Trust Holdings LLC boosted its stake in eBay by 10.5% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 387,395 shares of the e-commerce company’s stock valued at $25,223,000 after purchasing an additional 36,763 shares during the last quarter. Ascent Group LLC grew its holdings in shares of eBay by 16.7% during the third quarter. Ascent Group LLC now owns 12,426 shares of the e-commerce company’s stock valued at $809,000 after buying an additional 1,779 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in shares of eBay by 4.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 13,324 shares of the e-commerce company’s stock worth $868,000 after acquiring an additional 543 shares in the last quarter. Atom Investors LP lifted its holdings in eBay by 142.9% during the third quarter. Atom Investors LP now owns 13,093 shares of the e-commerce company’s stock worth $852,000 after acquiring an additional 7,702 shares in the last quarter. Finally, Paloma Partners Management Co lifted its holdings in eBay by 330.6% during the 3rd quarter. Paloma Partners Management Co now owns 21,400 shares of the e-commerce company’s stock valued at $1,393,000 after purchasing an additional 30,680 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.

Analyst Ratings Changes

EBAY has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price objective on eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, October 15th. Bank of America dropped their target price on shares of eBay from $67.00 to $64.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Citigroup boosted their price objective on shares of eBay from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus raised their target price on shares of eBay from $56.00 to $64.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. lowered their price target on shares of eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.87.

Insider Transactions at eBay

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $59.91, for a total value of $336,993.75. Following the transaction, the chief executive officer now directly owns 548,042 shares in the company, valued at approximately $32,833,196.22. This trade represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the transaction, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. The trade was a 26.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,016 shares of company stock worth $3,015,417. Company insiders own 0.38% of the company’s stock.

eBay Trading Down 0.2 %

Shares of EBAY opened at $63.17 on Tuesday. The stock’s fifty day simple moving average is $63.62 and its 200-day simple moving average is $58.50. The firm has a market capitalization of $30.26 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 1.66 and a beta of 1.35. eBay Inc. has a 12-month low of $40.16 and a 12-month high of $67.80. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. eBay’s payout ratio is 27.14%.

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.