eBay Inc. (NASDAQ:EBAY) Holdings Cut by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in shares of eBay Inc. (NASDAQ:EBAY) by 20.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,991,313 shares of the e-commerce company’s stock after selling 501,670 shares during the period. Massachusetts Financial Services Co. MA owned 0.42% of eBay worth $129,654,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Trustmark National Bank Trust Department acquired a new stake in eBay during the third quarter valued at $1,307,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of eBay by 27.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 450,119 shares of the e-commerce company’s stock worth $29,307,000 after purchasing an additional 97,170 shares in the last quarter. Cornerstone Advisors LLC lifted its holdings in shares of eBay by 29.6% during the 3rd quarter. Cornerstone Advisors LLC now owns 32,000 shares of the e-commerce company’s stock valued at $2,084,000 after buying an additional 7,300 shares during the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of eBay by 1.3% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 117,428 shares of the e-commerce company’s stock valued at $7,646,000 after buying an additional 1,562 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in eBay by 6.3% in the third quarter. First Horizon Advisors Inc. now owns 7,967 shares of the e-commerce company’s stock worth $519,000 after buying an additional 474 shares during the last quarter. 87.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 completion of the transaction, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. This represents a 5.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Stephen J. Priest sold 25,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the sale, the chief financial officer now directly owns 70,332 shares in the company, valued at approximately $4,494,918.12. This represents a 26.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,016 shares of company stock worth $3,015,417. Corporate insiders own 0.38% of the company’s stock.

eBay Stock Performance

Shares of NASDAQ EBAY opened at $63.24 on Friday. The firm has a market capitalization of $30.29 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.60 and a beta of 1.34. eBay Inc. has a one year low of $40.16 and a one year high of $67.80. The business has a fifty day simple moving average of $63.55 and a 200 day simple moving average of $57.92. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14.

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. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Friday, November 29th. eBay’s payout ratio is 27.14%.

Wall Street Analysts Forecast Growth

EBAY has been the subject of a number of analyst reports. Citigroup lifted their target price on shares of eBay from $65.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Susquehanna upped their price objective on shares of eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their target price on eBay from $56.00 to $64.00 and gave the company a “hold” rating in a report on Monday, October 28th. 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 research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered their price objective on eBay from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average 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.