Toronto Dominion Bank Cuts Stake in eBay Inc. (NASDAQ:EBAY)

Toronto Dominion Bank cut its holdings in eBay Inc. (NASDAQ:EBAY) by 19.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 216,482 shares of the e-commerce company’s stock after selling 51,417 shares during the quarter. Toronto Dominion Bank’s holdings in eBay were worth $14,095,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in EBAY. Tortoise Investment Management LLC raised its position in shares of eBay by 894.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after acquiring an additional 465 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in eBay in the second quarter valued at about $29,000. Gradient Investments LLC raised its holdings in eBay by 86.3% in 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 in the last quarter. Quarry LP purchased a new stake in shares of eBay during the third quarter valued at about $36,000. Finally, USA Financial Formulas bought a new stake in shares of eBay in the 3rd quarter valued at about $38,000. 87.48% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EBAY has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. UBS Group cut their price target on shares of eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Wells Fargo & Company reduced their target price on eBay from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Benchmark reiterated a “buy” rating and set a $65.00 price target on shares of eBay in a research note on Tuesday, October 29th. Finally, Wedbush initiated coverage on eBay in a report on Monday, December 9th. They set a “neutral” rating and a $70.00 target price for the company. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $62.63.

Insider Transactions at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $63.21, for a total value of $355,556.25. Following the sale, the chief executive officer now directly owns 531,167 shares of the company’s stock, valued at $33,575,066.07. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stephen J. Priest sold 1,167 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total value of $77,757.21. Following the completion of the transaction, the chief financial officer now directly owns 65,079 shares of the company’s stock, valued at approximately $4,336,213.77. This represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,641 shares of company stock valued at $3,370,974 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

eBay Price Performance

eBay stock opened at $63.84 on Friday. The stock has a market capitalization of $30.58 billion, a P/E ratio of 16.04, a P/E/G ratio of 2.20 and a beta of 1.35. The company’s fifty day moving average price is $63.37 and its 200 day moving average price is $59.10. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. eBay Inc. has a 1 year low of $40.16 and a 1 year high of $67.80.

eBay Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.69%. eBay’s dividend payout ratio (DPR) is 27.14%.

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.