Empower Advisory Group LLC Sells 42,081 Shares of eBay Inc. (NASDAQ:EBAY)

Empower Advisory Group LLC lessened its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 88.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,751 shares of the e-commerce company’s stock after selling 42,081 shares during the period. Empower Advisory Group LLC’s holdings in eBay were worth $374,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in eBay in the second quarter worth about $26,000. Tortoise Investment Management LLC grew its stake 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 buying an additional 465 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of eBay in the 2nd quarter worth approximately $29,000. LRI Investments LLC bought a new position in eBay during the 1st quarter valued at approximately $29,000. Finally, USA Financial Formulas bought a new stake in eBay in the third quarter worth $38,000. 87.48% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction of $256,760.14. Following the transaction, 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 position. The sale 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 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 owns 65,079 shares of the company’s stock, valued at approximately $4,336,213.77. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,016 shares of company stock valued at $3,015,417 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

eBay Stock Performance

NASDAQ EBAY opened at $62.30 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s 50 day simple moving average is $63.42 and its 200-day simple moving average is $57.37. The company has a market cap of $29.84 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 2.02 and a beta of 1.34. eBay Inc. has a 1-year low of $38.97 and a 1-year high of $67.80.

eBay Announces Dividend

The firm also recently declared 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 of this dividend is Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a yield of 1.73%. eBay’s payout ratio is presently 27.14%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EBAY. Robert W. Baird reduced their price target on eBay from $70.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on shares of eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, October 15th. Mizuho increased their price target on shares of eBay from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Morgan Stanley boosted their price objective on shares of eBay from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Jefferies Financial Group increased their target price on eBay from $58.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average 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.