Thrivent Financial for Lutherans Reduces Stock Position in eBay Inc. (NASDAQ:EBAY)

Thrivent Financial for Lutherans trimmed its position in eBay Inc. (NASDAQ:EBAY) by 6.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,898,719 shares of the e-commerce company’s stock after selling 137,071 shares during the quarter. Thrivent Financial for Lutherans’ holdings in eBay were worth $123,626,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of EBAY. Thurston Springer Miller Herd & Titak Inc. acquired a new position in eBay in the 2nd quarter worth approximately $26,000. Tortoise Investment Management LLC boosted its holdings 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 valued at $28,000 after acquiring an additional 465 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of eBay in the second quarter worth $29,000. LRI Investments LLC purchased a new position in shares of eBay during the first quarter worth $29,000. Finally, USA Financial Formulas acquired a new position in eBay during the third quarter valued at $38,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $59.91, for a total value of $336,993.75. Following the completion of the sale, the chief executive officer now owns 548,042 shares of the company’s stock, valued at approximately $32,833,196.22. This trade represents a 1.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction 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 transaction, the senior vice president now directly owns 70,113 shares in the company, valued at $4,530,000.93. This trade represents a 5.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,016 shares of company stock worth $3,015,417. 0.38% of the stock is owned by insiders.

eBay Stock Down 1.4 %

NASDAQ EBAY opened at $61.43 on Friday. eBay Inc. has a one year low of $38.97 and a one year high of $67.80. 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 business has a fifty day moving average price of $63.53 and a 200 day moving average price of $57.51. The company has a market cap of $29.42 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.60 and a beta of 1.34.

eBay Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EBAY shares. JPMorgan Chase & Co. cut their price target on eBay from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Jefferies Financial Group lifted their price target on eBay from $58.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $62.00 price target on shares of eBay in a report on Monday, October 7th. Sanford C. Bernstein raised shares of eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price objective on the stock in a research note on Tuesday, November 5th. Finally, 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 note on Friday, October 25th. 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. According to data from MarketBeat.com, the stock has a consensus 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.