Apollon Wealth Management LLC Decreases Stock Holdings in eBay Inc. (NASDAQ:EBAY)

Apollon Wealth Management LLC reduced its position in shares of eBay Inc. (NASDAQ:EBAY) by 14.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 10,737 shares of the e-commerce company’s stock after selling 1,858 shares during the quarter. Apollon Wealth Management LLC’s holdings in eBay were worth $699,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Private Advisor Group LLC grew its stake in shares of eBay by 90.7% in the 3rd quarter. Private Advisor Group LLC now owns 45,500 shares of the e-commerce company’s stock worth $2,963,000 after buying an additional 21,636 shares in the last quarter. Cetera Investment Advisers raised its holdings in eBay by 325.4% during the 1st quarter. Cetera Investment Advisers now owns 79,151 shares of the e-commerce company’s stock valued at $4,178,000 after buying an additional 60,544 shares during the period. PGGM Investments lifted its position in eBay by 88.0% in the second quarter. PGGM Investments now owns 61,115 shares of the e-commerce company’s stock worth $3,283,000 after buying an additional 28,604 shares during the last quarter. Freestone Capital Holdings LLC boosted its stake in eBay by 435.2% during the first quarter. Freestone Capital Holdings LLC now owns 36,431 shares of the e-commerce company’s stock worth $1,923,000 after buying an additional 29,624 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in eBay by 234.7% during the second quarter. Assenagon Asset Management S.A. now owns 182,534 shares of the e-commerce company’s stock valued at $9,806,000 after acquiring an additional 127,991 shares during the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of eBay from $72.00 to $66.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Citigroup boosted their target price on eBay from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Mizuho upped their target price on eBay from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. TD Cowen boosted their price objective on eBay from $45.00 to $54.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Benchmark reaffirmed a “buy” rating and issued a $65.00 price objective on shares of eBay in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $62.87.

eBay Trading Down 1.4 %

NASDAQ EBAY opened at $61.43 on Friday. eBay Inc. has a 52 week low of $38.97 and a 52 week high of $67.80. The company has a 50 day moving average price of $63.49 and a 200 day moving average price of $57.40. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a market cap of $29.42 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 2.03 and a beta of 1.34.

eBay Announces Dividend

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

Insider Activity

In other eBay news, CFO Stephen J. Priest sold 1,167 shares of the company’s stock in a transaction that occurred 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 owns 65,079 shares in the company, valued at approximately $4,336,213.77. This represents a 1.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $256,760.14. Following the sale, the senior vice president now 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. In the last quarter, insiders sold 47,016 shares of company stock worth $3,015,417. Insiders own 0.38% of the company’s stock.

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.