Putnam Investments LLC Has $31.20 Million Stake in eBay Inc. (NASDAQ:EBAY)

Putnam Investments LLC trimmed its position in shares of eBay Inc. (NASDAQ:EBAY) by 8.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 703,262 shares of the e-commerce company’s stock after selling 66,561 shares during the quarter. Putnam Investments LLC owned 0.13% of eBay worth $31,204,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of EBAY. SkyView Investment Advisors LLC bought a new stake in eBay during the first quarter worth $27,000. Centaurus Financial Inc. grew its holdings in eBay by 21.3% during the first quarter. Centaurus Financial Inc. now owns 12,901 shares of the e-commerce company’s stock worth $572,000 after buying an additional 2,263 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in eBay during the first quarter worth $201,000. Advisory Services Network LLC grew its holdings in eBay by 79.4% during the first quarter. Advisory Services Network LLC now owns 12,941 shares of the e-commerce company’s stock worth $574,000 after buying an additional 5,729 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in eBay by 13.9% during the first quarter. Rockefeller Capital Management L.P. now owns 17,796 shares of the e-commerce company’s stock worth $788,000 after buying an additional 2,170 shares in the last quarter. 85.87% of the stock is owned by institutional investors and hedge funds.

eBay Stock Performance

NASDAQ:EBAY opened at $44.36 on Friday. The business’s 50-day moving average price is $44.81 and its two-hundred day moving average price is $44.38. eBay Inc. has a twelve month low of $35.92 and a twelve month high of $52.23. The stock has a market cap of $23.61 billion, a P/E ratio of 17.96, a PEG ratio of 1.46 and a beta of 1.35. The company has a quick ratio of 2.45, a current ratio of 2.45 and a debt-to-equity ratio of 1.47.

eBay (NASDAQ:EBAY) last released its quarterly earnings results on Wednesday, July 26th. The e-commerce company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. eBay had a return on equity of 34.71% and a net margin of 13.49%. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the firm posted $0.80 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts predict that eBay Inc. will post 3.27 EPS for the current fiscal year.

eBay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.00 annualized dividend and a dividend yield of 2.25%. eBay’s dividend payout ratio (DPR) is presently 40.49%.

Insider Activity

In other news, SVP Edward O. Garcia sold 1,181 shares of the stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $43.31, for a total transaction of $51,149.11. Following the transaction, the senior vice president now directly owns 21,728 shares in the company, valued at approximately $941,039.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Edward O. Garcia sold 5,679 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $43.36, for a total transaction of $246,241.44. Following the transaction, the senior vice president now directly owns 17,988 shares in the company, valued at approximately $779,959.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Edward O. Garcia sold 1,181 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $43.31, for a total value of $51,149.11. Following the transaction, the senior vice president now owns 21,728 shares in the company, valued at $941,039.68. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

EBAY has been the subject of several recent research reports. TheStreet downgraded eBay from a “b-” rating to a “c” rating in a report on Wednesday, July 26th. Bank of America reduced their price objective on eBay from $54.00 to $52.00 in a research note on Thursday, July 27th. StockNews.com assumed coverage on eBay in a research note on Thursday, August 17th. They issued a “buy” rating for the company. Barclays reduced their price objective on eBay from $59.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, July 27th. Finally, Wells Fargo & Company upped their price objective on eBay from $45.00 to $46.00 in a research note on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.29.

About eBay

eBay Inc operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, and sell various products. The company was founded in 1995 and is headquartered in San Jose, California.