Cornercap Investment Counsel Inc. Has $1.97 Million Stake in eBay Inc. (NASDAQ:EBAY)

Cornercap Investment Counsel Inc. trimmed its holdings in eBay Inc. (NASDAQ:EBAY) by 40.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,301 shares of the e-commerce company’s stock after selling 20,382 shares during the period. eBay comprises about 0.6% of Cornercap Investment Counsel Inc.’s investment portfolio, making the stock its 14th largest holding. Cornercap Investment Counsel Inc.’s holdings in eBay were worth $1,973,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. CIBC Asset Management Inc boosted its position in shares of eBay by 5.6% during the third quarter. CIBC Asset Management Inc now owns 72,357 shares of the e-commerce company’s stock worth $4,711,000 after buying an additional 3,841 shares during the period. Impax Asset Management Group plc bought a new stake in eBay during the third quarter worth about $6,894,000. Lifeworks Advisors LLC raised its holdings in eBay by 2.1% during the third quarter. Lifeworks Advisors LLC now owns 35,946 shares of the e-commerce company’s stock worth $2,340,000 after acquiring an additional 726 shares in the last quarter. Metis Global Partners LLC raised its holdings in eBay by 1.5% during the third quarter. Metis Global Partners LLC now owns 32,775 shares of the e-commerce company’s stock worth $2,134,000 after acquiring an additional 479 shares in the last quarter. Finally, KBC Group NV raised its holdings in eBay by 8.2% during the third quarter. KBC Group NV now owns 354,361 shares of the e-commerce company’s stock worth $23,073,000 after acquiring an additional 26,948 shares in the last quarter. 87.48% of the stock is owned by institutional investors and hedge funds.

eBay Trading Up 0.7 %

Shares of NASDAQ:EBAY opened at $62.30 on Friday. The business’s 50 day simple moving average is $63.42 and its 200 day simple moving average is $57.37. The company has a market capitalization of $29.84 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.03 and a beta of 1.34. eBay Inc. has a 1 year low of $38.97 and a 1 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.

eBay Announces Dividend

The firm also recently announced 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 dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, November 29th. eBay’s dividend payout ratio is presently 27.14%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EBAY. Jefferies Financial Group upped their target price on eBay from $58.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Truist Financial upped their target price on eBay from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Stifel Nicolaus upped their target price on eBay from $56.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price objective on shares of eBay in a research note on Monday, October 7th. Finally, Bank of America dropped their price objective on eBay from $67.00 to $64.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.87.

Insider Buying and Selling at eBay

In related news, CFO Stephen J. Priest sold 25,000 shares of the firm’s 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 completion of the transaction, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at $4,494,918.12. This trade represents a 26.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $66.09, for a total value of $371,756.25. Following the completion of the transaction, the chief executive officer now directly owns 559,291 shares of the company’s stock, valued at approximately $36,963,542.19. This trade represents a 1.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,016 shares of company stock valued at $3,015,417. 0.38% of the stock is currently owned by corporate insiders.

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.