Panagora Asset Management Inc. Has $9.66 Million Position in eBay Inc. (NASDAQ:EBAY)

Panagora Asset Management Inc. lessened its position in eBay Inc. (NASDAQ:EBAY) by 77.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,747 shares of the e-commerce company’s stock after selling 619,451 shares during the period. Panagora Asset Management Inc.’s holdings in eBay were worth $9,656,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC acquired a new stake in shares of eBay in the fourth quarter valued at about $4,660,000. Atria Wealth Solutions Inc. boosted its position in shares of eBay by 59.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 9,960 shares of the e-commerce company’s stock valued at $434,000 after purchasing an additional 3,718 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of eBay by 19.4% during the 4th quarter. Van ECK Associates Corp now owns 68,545 shares of the e-commerce company’s stock valued at $2,990,000 after purchasing an additional 11,121 shares in the last quarter. Kestra Private Wealth Services LLC bought a new stake in shares of eBay during the 4th quarter valued at about $259,000. Finally, Brighton Jones LLC boosted its position in shares of eBay by 18.2% during the 4th quarter. Brighton Jones LLC now owns 12,093 shares of the e-commerce company’s stock valued at $527,000 after purchasing an additional 1,858 shares in the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.

eBay Stock Performance

Shares of EBAY opened at $59.10 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.99 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $29.67 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 2.58 and a beta of 1.31. The stock has a 50 day moving average of $55.15 and a 200 day moving average of $52.30. eBay Inc. has a 12 month low of $37.17 and a 12 month high of $59.85.

eBay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Friday, August 30th. eBay’s payout ratio is 21.51%.

Insider Activity at eBay

In related news, SVP Edward O. Garcia sold 986 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $52.85, for a total transaction of $52,110.10. Following the completion of the sale, the senior vice president now directly owns 37,126 shares of the company’s stock, valued at $1,962,109.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other eBay news, CAO Rebecca Spencer sold 2,083 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $53.62, for a total value of $111,690.46. Following the completion of the sale, the chief accounting officer now directly owns 4,109 shares of the company’s stock, valued at $220,324.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Edward O. Garcia sold 986 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $52.85, for a total value of $52,110.10. Following the completion of the sale, the senior vice president now directly owns 37,126 shares of the company’s stock, valued at $1,962,109.10. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on EBAY. Wolfe Research began coverage on eBay in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Benchmark upped their target price on eBay from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Evercore ISI increased their price target on eBay from $47.00 to $53.00 and gave the stock an “in-line” rating in a report on Thursday, August 1st. Jefferies Financial Group increased their price target on eBay from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Finally, Susquehanna increased their price target on eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, eBay currently has a consensus rating of “Hold” and a consensus target price of $56.65.

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.