Penserra Capital Management LLC Reduces Position in eBay Inc. (NASDAQ:EBAY)

Penserra Capital Management LLC decreased its holdings in eBay Inc. (NASDAQ:EBAY) by 16.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,273 shares of the e-commerce company’s stock after selling 15,197 shares during the quarter. 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 have also bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of eBay in the second quarter worth approximately $26,000. Tortoise Investment Management LLC grew its position 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 valued at $28,000 after acquiring an additional 465 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of eBay in the 2nd quarter worth $29,000. LRI Investments LLC bought a new position in eBay in the 1st quarter worth $29,000. Finally, USA Financial Formulas purchased a new position in eBay during the third quarter valued at $38,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Stock Up 3.0 %

Shares of NASDAQ:EBAY opened at $63.24 on Monday. eBay Inc. has a 1 year low of $40.16 and a 1 year high of $67.80. 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 firm has a market capitalization of $30.29 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.60 and a beta of 1.34. The business has a 50 day simple moving average of $63.55 and a two-hundred day simple moving average of $57.97.

eBay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, November 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. eBay’s dividend payout ratio (DPR) is 27.14%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on EBAY. Robert W. Baird reduced their target price on shares of eBay from $70.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. lowered their target price on shares of eBay from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Jefferies Financial Group lifted their price target on shares of eBay from $58.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Daiwa America upgraded eBay to a “hold” rating in a research report on Wednesday, August 14th. Finally, Barclays decreased their target price on eBay from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. One 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 company presently has an average rating of “Hold” and a consensus price target of $62.87.

Insider Activity at eBay

In other eBay 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 sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. This trade represents a 5.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total value of $77,757.21. Following the completion of the transaction, the chief financial officer now owns 65,079 shares in the company, valued at $4,336,213.77. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,016 shares of company stock worth $3,015,417 in the last 90 days. 0.38% of the stock is owned by corporate 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.