Retirement Systems of Alabama Acquires 209,433 Shares of eBay Inc. (NASDAQ:EBAY)

Retirement Systems of Alabama lifted its stake in eBay Inc. (NASDAQ:EBAY) by 27.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 986,165 shares of the e-commerce company’s stock after acquiring an additional 209,433 shares during the period. Retirement Systems of Alabama owned 0.21% of eBay worth $64,209,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in EBAY. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in eBay by 0.3% during the 3rd 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 grew its stake in shares of eBay by 0.5% during the third quarter. Optas LLC now owns 34,082 shares of the e-commerce company’s stock worth $2,219,000 after acquiring an additional 171 shares during the last quarter. Davis Investment Partners LLC increased its holdings in shares of eBay by 0.8% during 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 in the last quarter. Arvest Investments Inc. raised its position in shares of eBay by 1.2% in the 3rd quarter. Arvest Investments Inc. now owns 15,205 shares of the e-commerce company’s stock valued at $990,000 after purchasing an additional 183 shares during the last quarter. Finally, Marco Investment Management LLC boosted its stake 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 worth $673,000 after purchasing an additional 200 shares in the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at eBay

In other news, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the transaction, the senior vice president now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stephen J. Priest sold 25,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 70,332 shares in the company, valued at $4,494,918.12. This represents a 26.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,641 shares of company stock worth $3,370,974 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EBAY. Barclays lowered their price objective on shares of eBay from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Bank of America cut their price objective on eBay from $67.00 to $64.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Robert W. Baird decreased their target price on eBay from $70.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of eBay in a report on Thursday, October 31st. Finally, Mizuho upped their price objective on shares of eBay from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $62.63.

eBay Stock Down 0.5 %

Shares of NASDAQ:EBAY traded down $0.31 during trading on Friday, hitting $63.59. The company’s stock had a trading volume of 106,835 shares, compared to its average volume of 5,281,821. The company has a market capitalization of $30.46 billion, a PE ratio of 16.06, a P/E/G ratio of 2.20 and a beta of 1.35. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. eBay Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $67.80. The business has a 50 day moving average price of $63.42 and a two-hundred day moving average price of $59.03.

eBay Dividend Announcement

The company also recently announced 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. 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 1.70%. eBay’s 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.