The Manufacturers Life Insurance Company Reduces Stock Position in eBay Inc. (NASDAQ:EBAY)

The Manufacturers Life Insurance Company lowered its stake in shares of eBay Inc. (NASDAQ:EBAY) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,533,582 shares of the e-commerce company’s stock after selling 287,325 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.74% of eBay worth $230,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in eBay during the 2nd quarter worth $26,000. Tortoise Investment Management LLC grew its stake in eBay by 894.2% in the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 465 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in eBay in the second quarter valued at about $29,000. LRI Investments LLC acquired a new stake in eBay during the first quarter valued at approximately $29,000. Finally, USA Financial Formulas bought a new position in eBay during the 3rd quarter worth approximately $38,000. Institutional investors own 87.48% of the company’s stock.

eBay Price Performance

Shares of NASDAQ EBAY opened at $64.99 on Tuesday. eBay Inc. has a twelve month low of $40.16 and a twelve month high of $67.80. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average of $63.57 and a two-hundred day moving average of $58.08. The company has a market capitalization of $31.13 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.66 and a beta of 1.34.

eBay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, November 29th. eBay’s payout ratio is 27.14%.

Insiders Place Their Bets

In other eBay news, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction dated 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 directly owns 70,332 shares in the company, valued at $4,494,918.12. This trade represents a 26.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 548,042 shares of the company’s stock, valued at approximately $32,833,196.22. This trade represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,016 shares of company stock worth $3,015,417. 0.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Daiwa America raised eBay to a “hold” rating in a research report on Wednesday, August 14th. Morgan Stanley raised their price target on shares of eBay from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Mizuho increased their price objective on shares of eBay from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. Robert W. Baird cut their target price on shares of eBay from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, UBS Group lowered their target price on eBay from $72.00 to $66.00 and set a “neutral” rating for the company in a report 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.87.

eBay Company 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.