United Services Automobile Association Sells 3,211 Shares of eBay Inc. (NASDAQ:EBAY)

United Services Automobile Association cut its stake in eBay Inc. (NASDAQ:EBAY) by 22.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,799 shares of the e-commerce company’s stock after selling 3,211 shares during the quarter. United Services Automobile Association’s holdings in eBay were worth $703,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of EBAY. Tortoise Investment Management LLC raised its holdings in eBay by 894.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after acquiring an additional 465 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of eBay in the second quarter valued at approximately $29,000. Gradient Investments LLC increased its stake in shares of eBay by 86.3% during 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 during the period. Quarry LP bought a new position in shares of eBay during the third quarter worth approximately $36,000. Finally, USA Financial Formulas acquired a new stake in eBay during the 3rd quarter worth approximately $38,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on EBAY. Morgan Stanley increased their price objective on eBay from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Benchmark reaffirmed a “buy” rating and set a $65.00 price target on shares of eBay in a research report on Tuesday, October 29th. Mizuho lifted their price objective on shares of eBay from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. StockNews.com lowered shares of eBay from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, UBS Group lowered their target price on shares of eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $62.87.

Insider Buying and Selling

In other eBay news, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction of $256,760.14. Following the sale, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. The trade was a 5.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stephen J. Priest sold 1,167 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total transaction of $77,757.21. Following the transaction, the chief financial officer now directly owns 65,079 shares of the company’s stock, valued at $4,336,213.77. The trade was a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,641 shares of company stock worth $3,370,974 in the last 90 days. Insiders own 0.38% of the company’s stock.

eBay Stock Performance

Shares of eBay stock opened at $63.62 on Monday. The company’s 50 day moving average price is $63.54 and its two-hundred day moving average price is $58.82. The firm has a market capitalization of $30.47 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.66 and a beta of 1.35. eBay Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $67.80. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25.

eBay Dividend Announcement

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

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.