Kestra Investment Management LLC Buys New Position in eBay Inc. (NASDAQ:EBAY)

Kestra Investment Management LLC purchased a new position in eBay Inc. (NASDAQ:EBAY) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,101 shares of the e-commerce company’s stock, valued at approximately $267,000.

Several other large investors also recently bought and sold shares of EBAY. Thurston Springer Miller Herd & Titak Inc. purchased a new position in eBay in the 2nd quarter valued at about $26,000. Tortoise Investment Management LLC raised its stake in eBay by 894.2% during the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after buying an additional 465 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of eBay during the 2nd quarter valued at approximately $29,000. Gradient Investments LLC lifted its stake in eBay by 86.3% during the second quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock worth $33,000 after purchasing an additional 284 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in eBay during the third quarter valued at $38,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Morgan Stanley raised their target price on shares of eBay from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Truist Financial boosted their price objective on eBay from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Wells Fargo & Company reduced their price target on shares of eBay from $63.00 to $62.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Mizuho lifted their price objective on shares of eBay from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Barclays decreased their target price on shares of eBay from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $62.87.

eBay Stock Performance

Shares of EBAY opened at $63.17 on Tuesday. 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’s 50 day moving average is $63.62 and its 200-day moving average is $58.50. eBay Inc. has a 12-month low of $40.16 and a 12-month high of $67.80. The stock has a market capitalization of $30.26 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.66 and a beta of 1.34.

eBay Dividend Announcement

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

Insider Buying and Selling at eBay

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 548,042 shares of the company’s stock, valued at approximately $32,833,196.22. This represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 70,113 shares in the company, valued at approximately $4,530,000.93. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,016 shares of company stock valued at $3,015,417. Corporate insiders own 0.38% of the company’s stock.

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.