Sterling Capital Management LLC Trims Position in eBay Inc. (NASDAQ:EBAY)

Sterling Capital Management LLC decreased its stake in shares of eBay Inc. (NASDAQ:EBAY) by 34.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,276 shares of the e-commerce company’s stock after selling 56,336 shares during the quarter. Sterling Capital Management LLC’s holdings in eBay were worth $6,708,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in shares of eBay during the fourth quarter valued at $96,214,000. Boston Partners grew its holdings in eBay by 35.2% during the 4th quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company’s stock worth $362,823,000 after acquiring an additional 1,524,691 shares in the last quarter. Amundi increased its position in eBay by 16.8% during the 4th 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 period. Norges Bank bought a new stake in shares of eBay in the 4th quarter valued at about $40,805,000. Finally, Bank of Montreal Can lifted its position in shares of eBay by 87.3% in the 4th quarter. Bank of Montreal Can now owns 1,302,141 shares of the e-commerce company’s stock worth $80,668,000 after purchasing an additional 606,845 shares during the period. 87.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EBAY has been the topic of several research reports. Stifel Nicolaus cut their price objective on shares of eBay from $64.00 to $63.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Citigroup lifted their price target on eBay from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, February 14th. JMP Securities restated a “market perform” rating on shares of eBay in a research note on Monday, December 16th. Bank of America cut their target price on eBay from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC reissued 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 given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $65.21.

Insider Activity at eBay

In related news, CFO Stephen J. Priest sold 28,060 shares of eBay stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $67.82, for a total transaction of $1,903,029.20. Following the completion of the transaction, the chief financial officer now directly owns 65,080 shares in the company, valued at approximately $4,413,725.60. This trade represents a 30.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jamie Iannone sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was sold at an average price of $66.35, for a total value of $497,625.00. Following the completion of the sale, the chief executive officer now owns 590,108 shares in the company, valued at approximately $39,153,665.80. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,176 shares of company stock worth $3,111,432 over the last three months. Company insiders own 0.38% of the company’s stock.

eBay Price Performance

Shares of NASDAQ:EBAY opened at $64.58 on Friday. 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 Inc. has a twelve month low of $48.52 and a twelve month high of $71.61. The company’s 50 day moving average is $66.50 and its 200 day moving average is $64.92. The company has a market cap of $30.09 billion, a PE ratio of 16.23, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43.

eBay Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.80%. The ex-dividend date was Friday, March 14th. This is a boost from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio (DPR) is 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.