Oppenheimer Asset Management Inc. Has $2.22 Million Position in eBay Inc. (NASDAQ:EBAY)

Oppenheimer Asset Management Inc. trimmed its stake in shares of eBay Inc. (NASDAQ:EBAY) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,081 shares of the e-commerce company’s stock after selling 635 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in eBay were worth $2,219,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of eBay during the second quarter worth $26,000. Tortoise Investment Management LLC grew its position in 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 during the last quarter. LRI Investments LLC bought a new stake in eBay during the 1st quarter worth $29,000. Hobbs Group Advisors LLC acquired a new position in eBay in the 2nd quarter worth about $29,000. Finally, Gradient Investments LLC raised its position in eBay by 86.3% in the second quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock valued at $33,000 after purchasing an additional 284 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.

eBay Trading Down 1.4 %

NASDAQ:EBAY opened at $61.43 on Friday. The firm has a fifty day simple moving average of $63.53 and a two-hundred day simple moving average of $57.47. eBay Inc. has a 12 month low of $38.97 and a 12 month high of $67.80. The stock has a market capitalization of $29.42 billion, a price-to-earnings ratio of 15.43, a PEG ratio of 2.03 and a beta of 1.34. 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. Investors of record on Friday, November 29th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Friday, November 29th. eBay’s dividend payout ratio (DPR) is currently 27.14%.

Insiders Place Their Bets

In other news, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction dated Tuesday, September 17th. The shares were 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 $4,530,000.93. This trade represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen J. Priest sold 25,000 shares of eBay 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 transaction, the chief financial officer now 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,016 shares of company stock worth $3,015,417. Corporate insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of eBay in a report on Thursday, October 31st. UBS Group reduced their target price on shares of eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Morgan Stanley raised their price target on shares of eBay from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Piper Sandler boosted their price objective on shares of eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, StockNews.com lowered eBay from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $62.87.

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.