Primecap Management Co. CA Has $123.18 Million Holdings in eBay Inc. (NASDAQ:EBAY)

Primecap Management Co. CA cut its stake in eBay Inc. (NASDAQ:EBAY) by 1.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,293,010 shares of the e-commerce company’s stock after selling 26,980 shares during the period. Primecap Management Co. CA owned 0.46% of eBay worth $123,180,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of eBay in the second quarter valued at approximately $26,000. Tortoise Investment Management LLC boosted its position in 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 buying an additional 465 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of eBay in the 2nd quarter valued at $29,000. Washington Trust Advisors Inc. bought a new stake in shares of eBay during the first quarter worth $30,000. Finally, LRI Investments LLC acquired a new position in shares of eBay during the first quarter valued at $29,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on EBAY shares. Jefferies Financial Group lifted their price objective on eBay from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Citigroup boosted their price target on shares of eBay from $64.00 to $65.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. initiated coverage on shares of eBay in a research note on Tuesday, June 25th. They issued a “neutral” rating and a $60.00 price objective on the stock. Morgan Stanley lifted their target price on shares of eBay from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Finally, Benchmark increased their price target on eBay from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $56.90.

eBay Stock Performance

NASDAQ EBAY opened at $64.88 on Wednesday. The firm’s fifty day moving average price is $57.03 and its two-hundred day moving average price is $53.82. eBay Inc. has a 1 year low of $37.17 and a 1 year high of $64.96. The firm has a market capitalization of $32.57 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.12.

eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.88. eBay had a net margin of 26.41% and a return on equity of 29.69%. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.53 billion. As a group, research analysts anticipate that eBay Inc. will post 3.86 EPS for the current year.

eBay Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, August 30th. eBay’s payout ratio is 21.51%.

Insider Buying and Selling at eBay

In related news, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the sale, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.38% of the company’s stock.

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.