Taika Capital LP purchased a new position in eBay Inc. (NASDAQ:EBAY - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 71,935 shares of the e-commerce company's stock, valued at approximately $4,684,000. eBay accounts for about 3.5% of Taika Capital LP's investment portfolio, making the stock its 13th biggest holding.
Other hedge funds also recently bought and sold shares of the company. Tortoise Investment Management LLC increased its stake in shares of eBay by 894.2% during the second 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 acquired a new position in shares of eBay during the second quarter valued at approximately $29,000. Gradient Investments LLC increased its position 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 in the last quarter. Quarry LP acquired a new stake in eBay during the 3rd quarter worth $36,000. Finally, USA Financial Formulas acquired a new stake in shares of eBay in the third quarter valued at about $38,000. Hedge funds and other institutional investors own 87.48% of the company's stock.
EBAY has been the subject of a number of recent research reports. The Goldman Sachs Group increased their price objective on shares of eBay from $46.00 to $55.00 and gave the company a "sell" rating in a report on Tuesday, October 15th. Truist Financial lifted their price objective on eBay from $58.00 to $62.00 and gave the stock a "hold" rating in a research report on Tuesday, November 5th. Needham & Company LLC restated a "buy" rating and issued a $72.00 target price on shares of eBay in a report on Thursday, October 31st. Bank of America reduced their price target on eBay from $67.00 to $64.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Finally, Sanford C. Bernstein raised shares of eBay from a "market perform" rating to an "outperform" rating and set a $70.00 price target on the stock in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $62.87.
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In related news, CEO Jamie Iannone sold 5,625 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $59.91, for a total value of $336,993.75. Following the transaction, the chief executive officer now owns 548,042 shares in the company, valued at $32,833,196.22. The trade was a 1.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Cornelius Boone sold 3,974 shares of the 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 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 ownership of the stock. 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 ninety days. 0.38% of the stock is owned by corporate insiders.
NASDAQ:EBAY 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 stock has a market cap of $30.47 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.65 and a beta of 1.35. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a 50-day simple moving average of $63.55 and a 200-day simple moving average of $58.65.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, November 29th. eBay's dividend payout ratio (DPR) is 27.14%.
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.
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