Cornerstone Advisors LLC Buys 7,300 Shares of eBay Inc. (NASDAQ:EBAY)

Cornerstone Advisors LLC grew its stake in eBay Inc. (NASDAQ:EBAY) by 29.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 32,000 shares of the e-commerce company’s stock after purchasing an additional 7,300 shares during the period. Cornerstone Advisors LLC’s holdings in eBay were worth $2,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in eBay during the second quarter worth $26,000. Tortoise Investment Management LLC raised its position in shares of eBay by 894.2% in 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 purchased a new stake in shares of eBay during the 1st quarter worth $29,000. Hobbs Group Advisors LLC purchased a new stake in shares of eBay during the 2nd quarter worth $29,000. Finally, Gradient Investments LLC boosted its position in eBay by 86.3% during 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 in the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Trading Up 1.1 %

EBAY opened at $61.51 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The company’s 50 day simple moving average is $63.56 and its two-hundred day simple moving average is $57.77. The firm has a market capitalization of $29.46 billion, a price-to-earnings ratio of 15.45, a price-to-earnings-growth ratio of 1.59 and a beta of 1.34. eBay Inc. has a 1-year low of $40.16 and a 1-year high of $67.80.

eBay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Friday, November 29th. eBay’s dividend payout ratio (DPR) is presently 27.14%.

Wall Street Analyst Weigh In

Several analysts have commented on EBAY shares. TD Cowen increased their price target on shares of eBay from $45.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Wells Fargo & Company reduced their target price on eBay from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. StockNews.com downgraded shares of eBay from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price on shares of eBay in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, eBay currently has an average rating of “Hold” and a consensus target price of $62.87.

Insider Transactions at eBay

In other news, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. This represents a 26.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction on Monday, November 4th. The shares were sold at an average price of $59.91, for a total transaction of $336,993.75. Following the completion of the transaction, the chief executive officer now directly owns 548,042 shares in the company, valued at $32,833,196.22. The trade was a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,016 shares of company stock worth $3,015,417 in the last quarter. Company insiders own 0.38% of the company’s stock.

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.