Parallel Advisors LLC Trims Stake in eBay Inc. (NASDAQ:EBAY)

Parallel Advisors LLC trimmed its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 5.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,858 shares of the e-commerce company’s stock after selling 428 shares during the period. Parallel Advisors LLC’s holdings in eBay were worth $425,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. bought a new position in shares of eBay in the third quarter worth approximately $256,000. Pathstone Holdings LLC increased its position in shares of eBay by 2.2% in the third quarter. Pathstone Holdings LLC now owns 79,177 shares of the e-commerce company’s stock worth $5,155,000 after purchasing an additional 1,696 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of eBay by 4.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 186,059 shares of the e-commerce company’s stock worth $12,114,000 after buying an additional 7,585 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of eBay by 125.2% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,630 shares of the e-commerce company’s stock worth $6,812,000 after buying an additional 58,165 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of eBay by 22.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 10,969 shares of the e-commerce company’s stock worth $714,000 after buying an additional 1,984 shares during the last quarter. 87.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at eBay

In other eBay news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $62.38, for a total transaction of $350,887.50. Following the sale, the chief executive officer now directly owns 542,248 shares of the company’s stock, valued at approximately $33,825,430.24. The trade was a 1.03 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stephen J. Priest sold 1,033 shares of eBay stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $64.93, for a total value of $67,072.69. Following the sale, the chief financial officer now owns 65,080 shares in the company, valued at $4,225,644.40. This represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,241 shares of company stock valued at $1,061,665. 0.38% of the stock is currently owned by corporate insiders.

eBay Stock Performance

NASDAQ:EBAY opened at $65.78 on Friday. The stock has a market cap of $30.65 billion, a P/E ratio of 16.53, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. The firm’s fifty day simple moving average is $66.99 and its 200 day simple moving average is $64.64. eBay Inc. has a twelve month low of $48.52 and a twelve month high of $71.61. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.29 per share. This is a positive change from eBay’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.76%. eBay’s payout ratio is presently 29.07%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EBAY. Susquehanna increased their target price on eBay from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Benchmark increased their price objective on eBay from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Citigroup increased their price objective on eBay from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 14th. UBS Group increased their price target on shares of eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of eBay in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $65.54.

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.