Gateway Investment Advisers LLC Trims Stake in eBay Inc. (NASDAQ:EBAY)

Gateway Investment Advisers LLC lowered its stake in shares of eBay Inc. (NASDAQ:EBAY) by 45.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,157 shares of the e-commerce company’s stock after selling 3,516 shares during the quarter. Gateway Investment Advisers LLC’s holdings in eBay were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of EBAY. Allspring Global Investments Holdings LLC boosted its stake in eBay by 604.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 630,956 shares of the e-commerce company’s stock worth $27,522,000 after acquiring an additional 541,384 shares in the last quarter. Savant Capital LLC lifted its stake in shares of eBay by 2.3% in the fourth quarter. Savant Capital LLC now owns 11,411 shares of the e-commerce company’s stock worth $498,000 after buying an additional 262 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of eBay by 25.0% in the first quarter. Van ECK Associates Corp now owns 85,688 shares of the e-commerce company’s stock worth $4,523,000 after buying an additional 17,143 shares in the last quarter. SteelPeak Wealth LLC lifted its stake in shares of eBay by 42.3% in the first quarter. SteelPeak Wealth LLC now owns 57,642 shares of the e-commerce company’s stock worth $3,042,000 after buying an additional 17,140 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in shares of eBay by 6.9% in the first quarter. Raymond James & Associates now owns 873,900 shares of the e-commerce company’s stock worth $46,124,000 after buying an additional 56,148 shares in the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Price Performance

NASDAQ:EBAY traded up $0.58 on Friday, reaching $56.52. 2,952,171 shares of the company’s stock traded hands, compared to its average volume of 5,705,357. The firm has a market cap of $28.37 billion, a PE ratio of 11.26, a P/E/G ratio of 2.58 and a beta of 1.31. The stock has a 50-day simple moving average of $53.95 and a 200-day simple moving average of $50.75. The company has a quick ratio of 1.99, a current ratio of 1.25 and a debt-to-equity ratio of 1.12. eBay Inc. has a 12 month low of $37.17 and a 12 month high of $57.68.

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.91%. eBay’s payout ratio is 21.51%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EBAY shares. Susquehanna increased their price objective on shares of eBay from $52.00 to $60.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group increased their price objective on shares of eBay from $38.00 to $46.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. StockNews.com upgraded shares of eBay from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Benchmark increased their price objective on shares of eBay from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Truist Financial boosted their price objective on shares of eBay from $50.00 to $58.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.65.

Insider Activity

In other news, CAO Rebecca Spencer sold 2,083 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $53.62, for a total transaction of $111,690.46. Following the completion of the transaction, the chief accounting officer now owns 4,109 shares in the company, valued at $220,324.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CAO Rebecca Spencer sold 2,083 shares of eBay stock in a transaction dated 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 transaction, the chief accounting officer now owns 4,109 shares in the company, valued at $220,324.58. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Julie A. Loeger sold 7,419 shares of eBay stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $54.20, for a total value of $402,109.80. Following the completion of the transaction, the senior vice president now owns 70,797 shares of the company’s stock, valued at approximately $3,837,197.40. The disclosure for this sale can be found here. Insiders sold a total of 10,488 shares of company stock worth $565,910 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

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.