New York State Teachers Retirement System Reduces Holdings in eBay Inc. (NASDAQ:EBAY)

New York State Teachers Retirement System lowered its position in shares of eBay Inc. (NASDAQ:EBAY) by 5.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 442,201 shares of the e-commerce company’s stock after selling 24,453 shares during the period. New York State Teachers Retirement System’s holdings in eBay were worth $28,792,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in EBAY. Vanguard Group Inc. raised its stake in shares of eBay by 7.7% during the first quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock valued at $3,321,403,000 after purchasing an additional 4,524,934 shares during the period. Ameriprise Financial Inc. raised its stake in shares of eBay by 17.6% during the second quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock valued at $1,394,797,000 after purchasing an additional 3,880,649 shares during the period. M&G Plc purchased a new stake in shares of eBay during the first quarter valued at approximately $97,557,000. Swedbank AB purchased a new stake in shares of eBay during the first quarter valued at approximately $73,777,000. Finally, Altshuler Shaham Ltd acquired a new stake in shares of eBay during the second quarter worth approximately $71,593,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Price Performance

Shares of NASDAQ EBAY opened at $57.51 on Friday. eBay Inc. has a fifty-two week low of $37.17 and a fifty-two week high of $67.80. The firm’s 50-day simple moving average is $63.00 and its 200 day simple moving average is $56.67. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.12. The stock has a market cap of $28.87 billion, a P/E ratio of 11.46, a P/E/G ratio of 2.45 and a beta of 1.32.

eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. eBay had a net margin of 26.41% and a return on equity of 29.69%. The business had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.53 billion. Equities analysts expect that eBay Inc. will post 3.86 EPS for the current year.

eBay Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Friday, November 29th. eBay’s dividend payout ratio is currently 21.51%.

Insider Activity at eBay

In other eBay news, CFO Stephen J. Priest sold 1,167 shares of the business’s 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 sale, the chief financial officer now directly owns 65,079 shares in the company, valued at approximately $4,336,213.77. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other eBay news, CFO Stephen J. Priest sold 25,000 shares of the business’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 sale, the chief financial officer now directly owns 70,332 shares in the company, valued at approximately $4,494,918.12. The trade was a 0.00 % decrease in their ownership of the stock. 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 the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total transaction of $77,757.21. Following the completion of the sale, the chief financial officer now owns 65,079 shares in the company, valued at approximately $4,336,213.77. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,391 shares of company stock worth $2,678,424 over the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on EBAY. TD Cowen raised their price target on shares of eBay from $45.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Barclays decreased their price target on shares of eBay from $65.00 to $64.00 and set an “overweight” rating for the company in a research report on Thursday. Evercore ISI raised their price target on shares of eBay from $47.00 to $53.00 and gave the stock an “in-line” rating in a research report on Thursday, August 1st. Bank of America decreased their price target on shares of eBay from $67.00 to $64.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, UBS Group decreased their price objective on shares of eBay from $72.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $62.05.

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.