Envestnet Asset Management Inc. Has $78.45 Million Holdings in eBay Inc. (NASDAQ:EBAY)

Envestnet Asset Management Inc. increased its stake in shares of eBay Inc. (NASDAQ:EBAY) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,266,355 shares of the e-commerce company’s stock after purchasing an additional 91,185 shares during the period. Envestnet Asset Management Inc.’s holdings in eBay were worth $78,451,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in EBAY. Wellington Management Group LLP acquired a new stake in shares of eBay in the third quarter worth $105,506,000. Raymond James Financial Inc. acquired a new position in eBay during the 4th quarter worth $96,214,000. Boston Partners boosted its holdings in eBay by 35.2% during the fourth quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company’s stock valued at $362,823,000 after acquiring an additional 1,524,691 shares during the period. Amundi grew its position in shares of eBay by 16.8% in the fourth quarter. Amundi now owns 4,719,128 shares of the e-commerce company’s stock valued at $292,350,000 after purchasing an additional 677,389 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of eBay in the fourth quarter valued at about $40,805,000. 87.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. 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. UBS Group raised their price objective on shares of eBay from $66.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Benchmark boosted their target price on shares of eBay from $65.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Jefferies Financial Group downgraded shares of eBay from a “hold” rating to an “underperform” rating and reduced their price target for the company from $60.00 to $52.00 in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of eBay from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, eBay has an average rating of “Hold” and a consensus price target of $65.21.

Insiders Place Their Bets

In other eBay news, SVP Cornelius Boone sold 3,958 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total value of $265,423.48. Following the completion of the transaction, the senior vice president now directly owns 94,392 shares of the company’s stock, valued at approximately $6,329,927.52. The trade was a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephen J. Priest sold 28,060 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $67.82, for a total transaction of $1,903,029.20. Following the sale, the chief financial officer now directly owns 65,080 shares in the company, valued at $4,413,725.60. This trade represents a 30.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,176 shares of company stock valued at $3,111,432. 0.38% of the stock is currently owned by corporate insiders.

eBay Price Performance

NASDAQ:EBAY opened at $59.52 on Wednesday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a market cap of $27.74 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43. eBay Inc. has a 12 month low of $48.52 and a 12 month high of $71.61. The company’s 50-day moving average price is $66.86 and its two-hundred day moving average price is $64.97.

eBay Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.29 dividend. This is an increase from eBay’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, March 14th. This represents a $1.16 annualized dividend and a yield of 1.95%. eBay’s payout ratio is presently 29.07%.

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.