Kestra Investment Management LLC Takes Position in eBay Inc. (NASDAQ:EBAY)

Kestra Investment Management LLC purchased a new position in shares of eBay Inc. (NASDAQ:EBAY) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 4,101 shares of the e-commerce company’s stock, valued at approximately $267,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of eBay by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,494 shares of the e-commerce company’s stock worth $3,418,000 after buying an additional 153 shares during the last quarter. Optas LLC lifted its position in eBay by 0.5% in the third quarter. Optas LLC now owns 34,082 shares of the e-commerce company’s stock worth $2,219,000 after purchasing an additional 171 shares during the period. Davis Investment Partners LLC boosted its stake in eBay by 0.8% during the third quarter. Davis Investment Partners LLC now owns 23,475 shares of the e-commerce company’s stock worth $1,531,000 after buying an additional 180 shares in the last quarter. Arvest Investments Inc. boosted its stake in eBay by 1.2% during the third quarter. Arvest Investments Inc. now owns 15,205 shares of the e-commerce company’s stock worth $990,000 after buying an additional 183 shares in the last quarter. Finally, Marco Investment Management LLC increased its holdings in eBay by 2.0% in the 3rd quarter. Marco Investment Management LLC now owns 10,335 shares of the e-commerce company’s stock valued at $673,000 after buying an additional 200 shares during the period. 87.48% of the stock is owned by hedge funds and other institutional investors.

eBay Stock Performance

Shares of NASDAQ EBAY opened at $63.17 on Tuesday. eBay Inc. has a one year low of $40.16 and a one 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 market cap of $30.26 billion, a price-to-earnings ratio of 15.87, a P/E/G ratio of 1.66 and a beta of 1.34. The stock’s fifty day moving average price is $63.62 and its two-hundred day moving average price is $58.50.

eBay Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of eBay from $46.00 to $55.00 and gave the company a “sell” rating in a research note on Tuesday, October 15th. Mizuho upped their price target on eBay from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Piper Sandler lifted their target price on shares of eBay from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. StockNews.com lowered shares of eBay from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Citigroup lifted their price target on shares of eBay from $65.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.87.

Insider Activity

In related news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $66.09, for a total transaction of $371,756.25. Following the sale, the chief executive officer now owns 559,291 shares in the company, valued at approximately $36,963,542.19. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction on 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. This represents a 26.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,016 shares of company stock worth $3,015,417. Corporate 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.