BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Cuts Holdings in eBay Inc. (NASDAQ:EBAY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in eBay Inc. (NASDAQ:EBAY) by 15.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 83,771 shares of the e-commerce company’s stock after selling 15,437 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in eBay were worth $5,454,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EBAY. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in eBay by 0.3% in 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 acquiring an additional 153 shares during the last quarter. Optas LLC grew its holdings in shares of eBay by 0.5% in the third quarter. Optas LLC now owns 34,082 shares of the e-commerce company’s stock valued at $2,219,000 after purchasing an additional 171 shares in the last quarter. Davis Investment Partners LLC grew its holdings in shares of 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 purchasing an additional 180 shares in the last quarter. Arvest Investments Inc. increased its position in eBay by 1.2% in the third quarter. Arvest Investments Inc. now owns 15,205 shares of the e-commerce company’s stock worth $990,000 after purchasing an additional 183 shares during the last quarter. Finally, Marco Investment Management LLC raised its stake in 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 purchasing an additional 200 shares in the last quarter. 87.48% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Stephen J. Priest sold 25,000 shares of the business’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 value of $1,597,750.00. Following the completion of the transaction, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The trade was a 26.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Cornelius Boone sold 3,974 shares of the company’s stock in a transaction 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 sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. This represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,016 shares of company stock valued at $3,015,417 over the last three months. 0.38% of the stock is owned by company insiders.

eBay Trading Down 0.2 %

EBAY opened at $63.17 on Tuesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The stock’s fifty day moving average is $63.62 and its two-hundred day moving average is $58.50. The company has a market capitalization of $30.26 billion, a P/E ratio of 15.87, a PEG ratio of 1.66 and a beta of 1.34. eBay Inc. has a 52 week low of $40.16 and a 52 week high of $67.80.

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.27 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. eBay’s payout ratio is currently 27.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Robert W. Baird dropped their price target on eBay from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. UBS Group decreased their price objective on eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Daiwa America raised eBay to a “hold” rating in a research note on Wednesday, August 14th. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of eBay in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, eBay presently has an average 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.