Penserra Capital Management LLC Trims Stake in eBay Inc. (NASDAQ:EBAY)

Penserra Capital Management LLC lessened its stake in eBay Inc. (NASDAQ:EBAY) by 16.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,273 shares of the e-commerce company’s stock after selling 15,197 shares during the period. Penserra Capital Management LLC’s holdings in eBay were worth $4,899,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in eBay during the second quarter worth $26,000. Tortoise Investment Management LLC boosted its stake in shares of eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after acquiring an additional 465 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of eBay during the 1st quarter valued at about $29,000. Hobbs Group Advisors LLC purchased a new position in shares of eBay in the 2nd quarter valued at about $29,000. Finally, Gradient Investments LLC raised its holdings in eBay by 86.3% in the 2nd quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock worth $33,000 after purchasing an additional 284 shares during the period. Institutional investors and hedge funds own 87.48% of the company’s stock.

eBay Trading Up 3.0 %

Shares of EBAY opened at $63.24 on Monday. eBay Inc. has a 12-month low of $40.16 and a 12-month high of $67.80. The firm has a market capitalization of $30.29 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.60 and a beta of 1.34. The firm has a 50-day moving average price of $63.55 and a 200 day moving average price of $57.97. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have commented on EBAY shares. Evercore ISI raised their price objective on eBay from $47.00 to $53.00 and gave the company an “in-line” rating in a report on Thursday, August 1st. TD Cowen lifted their price target on shares of eBay from $45.00 to $54.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Sanford C. Bernstein upgraded shares of eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research report on Tuesday, November 5th. Morgan Stanley lifted their target price on shares of eBay from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. reduced 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 investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $62.87.

Insider Activity

In other news, SVP Cornelius Boone sold 3,974 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 70,113 shares in the company, valued at approximately $4,530,000.93. This represents a 5.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the sale, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The trade was a 26.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,016 shares of company stock valued at $3,015,417. 0.38% of the stock is currently owned by company 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.