NewEdge Advisors LLC Reduces Stock Holdings in eBay Inc. (NASDAQ:EBAY)

NewEdge Advisors LLC cut its holdings in eBay Inc. (NASDAQ:EBAY) by 2.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 56,062 shares of the e-commerce company’s stock after selling 1,361 shares during the quarter. NewEdge Advisors LLC’s holdings in eBay were worth $3,473,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Smithfield Trust Co raised its position in eBay by 3.6% during the fourth quarter. Smithfield Trust Co now owns 4,411 shares of the e-commerce company’s stock worth $274,000 after acquiring an additional 153 shares during the last quarter. Cypress Wealth Services LLC raised its position in shares of eBay by 4.7% during the 4th quarter. Cypress Wealth Services LLC now owns 3,488 shares of the e-commerce company’s stock worth $216,000 after purchasing an additional 157 shares during the last quarter. IFP Advisors Inc raised its position in shares of eBay by 7.2% during the 4th quarter. IFP Advisors Inc now owns 2,417 shares of the e-commerce company’s stock worth $150,000 after purchasing an additional 163 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in eBay by 4.1% in the 4th quarter. Capital Investment Advisors LLC now owns 4,226 shares of the e-commerce company’s stock valued at $262,000 after buying an additional 167 shares in the last quarter. Finally, Bailard Inc. grew its holdings in eBay by 0.5% during the 4th quarter. Bailard Inc. now owns 34,651 shares of the e-commerce company’s stock valued at $2,147,000 after buying an additional 169 shares during the last quarter. 87.48% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other eBay news, CFO Stephen J. Priest sold 1,167 shares of the stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $66.21, for a total value of $77,267.07. Following the completion of the sale, the chief financial officer now owns 65,080 shares of the company’s stock, valued at $4,308,946.80. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $67.25, for a total transaction of $378,281.25. Following the transaction, the chief executive officer now directly owns 530,998 shares in the company, valued at approximately $35,709,615.50. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 46,310 shares of company stock worth $3,121,626 over the last quarter. 0.38% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EBAY. Bank of America cut their price target on eBay from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of eBay in a research note on Thursday, February 27th. Citigroup raised their price target on shares of eBay from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Cantor Fitzgerald boosted their price objective on shares of eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Finally, Benchmark upped their price objective on shares of eBay from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, eBay has a consensus rating of “Hold” and an average price target of $65.13.

eBay Price Performance

eBay stock opened at $66.26 on Monday. The firm has a fifty day moving average of $66.30 and a 200-day moving average of $64.96. eBay Inc. has a 52-week low of $48.52 and a 52-week 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. The firm has a market capitalization of $30.88 billion, a P/E ratio of 16.65, a PEG ratio of 2.22 and a beta of 1.43.

eBay Increases Dividend

The business 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. The ex-dividend date was Friday, March 14th. This is a positive change from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 1.75%. eBay’s dividend payout ratio (DPR) is 29.07%.

eBay Company Profile

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.