Glenmede Trust Co. NA Sells 385,788 Shares of eBay Inc. (NASDAQ:EBAY)

Glenmede Trust Co. NA cut its position in shares of eBay Inc. (NASDAQ:EBAY) by 30.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 896,906 shares of the e-commerce company’s stock after selling 385,788 shares during the period. Glenmede Trust Co. NA’s holdings in eBay were worth $58,398,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citigroup increased their target price 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. StockNews.com cut shares of eBay from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. decreased their price target on eBay from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. UBS Group reduced their price objective on eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Evercore ISI increased their target price on eBay from $47.00 to $53.00 and gave the stock an “in-line” rating in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.87.

Insider Activity

In other eBay news, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 70,332 shares in the company, valued at $4,494,918.12. This trade represents a 26.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Cornelius Boone sold 3,974 shares of the business’s 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 sale, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. The trade was a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,016 shares of company stock valued at $3,015,417. 0.38% of the stock is owned by insiders.

eBay Stock Up 0.2 %

Shares of EBAY stock opened at $65.09 on Wednesday. The company has a market capitalization of $31.18 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 1.70 and a beta of 1.34. eBay Inc. has a 12-month low of $40.16 and a 12-month high of $67.80. The firm has a fifty day moving average of $63.57 and a 200-day moving average of $58.18. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend yield of 1.66%. The ex-dividend date is Friday, November 29th. eBay’s dividend payout ratio is currently 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.