Kentucky Retirement Systems Sells 4,064 Shares of eBay Inc. (NASDAQ:EBAY)

Kentucky Retirement Systems cut its stake in eBay Inc. (NASDAQ:EBAY) by 10.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,066 shares of the e-commerce company’s stock after selling 4,064 shares during the quarter. Kentucky Retirement Systems’ holdings in eBay were worth $2,218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in eBay by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,494 shares of the e-commerce company’s stock worth $3,418,000 after buying an additional 153 shares during the period. Optas LLC lifted its stake in shares of eBay by 0.5% in the 3rd quarter. Optas LLC now owns 34,082 shares of the e-commerce company’s stock valued at $2,219,000 after purchasing an additional 171 shares during the period. Davis Investment Partners LLC boosted its position in shares of eBay by 0.8% during the third quarter. Davis Investment Partners LLC now owns 23,475 shares of the e-commerce company’s stock valued at $1,531,000 after purchasing an additional 180 shares in the last quarter. Arvest Investments Inc. grew its stake in eBay by 1.2% in the third quarter. Arvest Investments Inc. now owns 15,205 shares of the e-commerce company’s stock worth $990,000 after purchasing an additional 183 shares during the period. Finally, Quent Capital LLC raised its holdings in eBay by 6.8% in the first quarter. Quent Capital LLC now owns 3,173 shares of the e-commerce company’s stock worth $167,000 after purchasing an additional 202 shares in the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

eBay Stock Down 1.4 %

EBAY opened at $61.43 on Monday. eBay Inc. has a 1-year low of $38.97 and a 1-year high of $67.80. The firm’s 50 day simple moving average is $63.53 and its two-hundred day simple moving average is $57.55. 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 company has a market capitalization of $29.42 billion, a PE ratio of 15.43, a PEG ratio of 1.60 and a beta of 1.34.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.76%. The ex-dividend date is Friday, November 29th. eBay’s dividend payout ratio is presently 27.14%.

Insiders Place Their Bets

In other eBay news, CFO Stephen J. Priest sold 1,167 shares of the firm’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 sale, the chief financial officer now directly owns 65,079 shares of the company’s stock, valued at $4,336,213.77. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cornelius Boone sold 3,974 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. This trade represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,016 shares of company stock worth $3,015,417 over the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EBAY has been the topic of a number of recent research reports. StockNews.com downgraded shares of eBay from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Evercore ISI raised their target price on shares of eBay from $47.00 to $53.00 and gave the company an “in-line” rating in a research note on Thursday, August 1st. Barclays dropped their price target on eBay from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Piper Sandler lifted their price objective on eBay from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Daiwa America upgraded eBay to a “hold” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $62.87.

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.