Allspring Global Investments Holdings LLC lessened its holdings in shares of eBay Inc. (NASDAQ:EBAY – Free Report) by 58.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,682 shares of the e-commerce company’s stock after selling 54,284 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in eBay were worth $3,368,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Financial Consulate Inc. purchased a new position in shares of eBay during the 3rd quarter worth $27,000. Steigerwald Gordon & Koch Inc. acquired a new stake in eBay in the 3rd quarter worth about $28,000. JPL Wealth Management LLC acquired a new stake in eBay in the 3rd quarter worth about $28,000. JFS Wealth Advisors LLC boosted its stake in eBay by 57.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 318 shares of the e-commerce company’s stock worth $28,000 after buying an additional 116 shares during the last quarter. Finally, Beacon Financial Strategies CORP acquired a new stake in eBay in the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.
eBay Stock Performance
eBay stock opened at $96.01 on Wednesday. The company has a market cap of $43.01 billion, a price-to-earnings ratio of 22.07, a price-to-earnings-growth ratio of 1.97 and a beta of 1.34. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.10 and a quick ratio of 1.10. eBay Inc. has a 12 month low of $58.71 and a 12 month high of $101.15. The stock’s 50-day moving average is $89.30 and its 200-day moving average is $88.50.
eBay Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Friday, March 6th were given a dividend of $0.31 per share. This is a positive change from eBay’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, March 6th. This represents a $1.24 dividend on an annualized basis and a yield of 1.3%. eBay’s dividend payout ratio is currently 28.51%.
Insider Buying and Selling
In related news, SVP Mazen Rawashdeh sold 23,167 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $93.59, for a total transaction of $2,168,199.53. Following the completion of the sale, the senior vice president directly owned 28,915 shares of the company’s stock, valued at approximately $2,706,154.85. This represents a 44.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jordan Douglas Bradle Sweetnam sold 12,978 shares of the company’s stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $92.44, for a total transaction of $1,199,686.32. Following the sale, the senior vice president directly owned 42,948 shares of the company’s stock, valued at approximately $3,970,113.12. This trade represents a 23.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 87,280 shares of company stock valued at $8,067,074. Company insiders own 0.64% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. The Goldman Sachs Group raised eBay from a “sell” rating to a “neutral” rating and set a $88.00 price target on the stock in a research note on Thursday, February 19th. Wall Street Zen upgraded shares of eBay from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Sanford C. Bernstein restated an “outperform” rating on shares of eBay in a report on Thursday, February 19th. Stifel Nicolaus boosted their target price on shares of eBay from $88.00 to $94.00 and gave the company a “hold” rating in a report on Thursday, February 19th. Finally, Wells Fargo & Company lowered their target price on shares of eBay from $101.00 to $100.00 and set an “equal weight” rating for the company in a report on Monday. Fourteen research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $98.19.
Check Out Our Latest Analysis on EBAY
About eBay
eBay Inc is a global e-commerce company that operates an online marketplace connecting individual consumers and businesses for the sale and purchase of new, used and collectible goods. Founded in 1995 by Pierre Omidyar and headquartered in San Jose, California, eBay grew from its early auction-style site into a diversified platform offering both auction-format listings and fixed-price “Buy It Now” transactions. The company completed an initial public offering in the late 1990s and has since evolved its platform and services to support a broad range of product categories and buyer preferences.
The company’s core business centers on its marketplace platform, which provides listing, search and transaction capabilities for millions of items across consumer goods, electronics, fashion, collectibles and more.
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