Polar Asset Management Partners Inc. Sells 123,624 Shares of eBay Inc. (NASDAQ:EBAY)

Polar Asset Management Partners Inc. lowered its position in shares of eBay Inc. (NASDAQ:EBAY) by 73.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,700 shares of the e-commerce company’s stock after selling 123,624 shares during the period. Polar Asset Management Partners Inc.’s holdings in eBay were worth $2,910,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Tortoise Investment Management LLC grew its position in shares of eBay by 894.2% during the 2nd 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 shares of eBay in the second quarter valued at approximately $29,000. USA Financial Formulas acquired a new stake in eBay during the third quarter worth approximately $38,000. Gradient Investments LLC increased its stake in eBay by 86.3% during the 2nd quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock worth $33,000 after acquiring an additional 284 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in eBay in the 3rd quarter valued at $50,000. 87.48% of the stock is currently owned by institutional investors.

eBay Trading Up 0.5 %

Shares of EBAY stock opened at $63.62 on Friday. eBay Inc. has a 1-year low of $40.16 and a 1-year 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 stock has a market cap of $30.47 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 1.65 and a beta of 1.35. The stock has a 50-day moving average of $63.55 and a 200-day moving average of $58.65.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.27 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.70%. eBay’s dividend payout ratio (DPR) is currently 27.14%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. UBS Group reduced their target price on eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of eBay from $58.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. TD Cowen boosted their target price on shares of eBay from $45.00 to $54.00 and gave the company a “hold” rating in a research report on Friday, October 25th. The Goldman Sachs Group upped their price target on shares of eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company decreased their price objective on shares of eBay from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, sixteen have given 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 a consensus rating of “Hold” and an average price target of $62.87.

Insider Transactions at eBay

In related news, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the completion of the sale, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. This trade represents a 26.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,641 shares of company stock worth $3,370,974 over the last three months. 0.38% of the stock is owned by company insiders.

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.