California Public Employees Retirement System Decreases Stake in eBay Inc. (NASDAQ:EBAY)

California Public Employees Retirement System reduced its position in eBay Inc. (NASDAQ:EBAY - Free Report) by 10.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 866,173 shares of the e-commerce company's stock after selling 100,516 shares during the quarter. California Public Employees Retirement System owned about 0.18% of eBay worth $53,659,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of EBAY. Public Sector Pension Investment Board lifted its position in eBay by 9.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 19,555 shares of the e-commerce company's stock worth $1,273,000 after acquiring an additional 1,700 shares during the period. Erste Asset Management GmbH acquired a new stake in shares of eBay during the third quarter worth $1,720,000. Kestra Investment Management LLC acquired a new stake in shares of eBay during the third quarter worth $267,000. Paloma Partners Management Co grew its position in eBay by 330.6% in the 3rd quarter. Paloma Partners Management Co now owns 21,400 shares of the e-commerce company's stock valued at $1,393,000 after buying an additional 30,680 shares during the last quarter. Finally, Atom Investors LP increased its stake in eBay by 142.9% in the 3rd quarter. Atom Investors LP now owns 13,093 shares of the e-commerce company's stock valued at $852,000 after buying an additional 7,702 shares during the period. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EBAY has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on shares of eBay from $59.00 to $63.00 and gave the stock a "market perform" rating in a research note on Thursday, February 27th. JMP Securities reaffirmed a "market perform" rating on shares of eBay in a report on Monday, December 16th. Jefferies Financial Group cut eBay from a "hold" rating to an "underperform" rating and dropped their target price for the stock from $60.00 to $52.00 in a research report on Tuesday, December 10th. Cantor Fitzgerald raised their price target on eBay from $65.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company dropped their price objective on eBay from $64.00 to $62.00 and set an "equal weight" rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $65.46.

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eBay Trading Down 6.0 %

Shares of eBay stock traded down $3.96 during trading hours on Friday, reaching $62.40. The stock had a trading volume of 8,338,448 shares, compared to its average volume of 4,879,330. The firm has a market capitalization of $29.08 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 2.22 and a beta of 1.43. eBay Inc. has a 1 year low of $48.52 and a 1 year high of $71.61. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a 50 day simple moving average of $67.26 and a two-hundred day simple moving average of $65.04.

eBay Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.29 dividend. This is a positive change 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 1.86%. eBay's dividend payout ratio (DPR) is presently 29.07%.

Insider Buying and Selling at eBay

In related news, CFO Stephen J. Priest sold 1,033 shares of eBay stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $64.93, for a total transaction of $67,072.69. Following the transaction, the chief financial officer now owns 65,080 shares in the company, valued at approximately $4,225,644.40. The trade was a 1.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Cornelius Boone sold 3,958 shares of the stock in a transaction on 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 sale, the senior vice president now owns 94,392 shares of the company's stock, valued at approximately $6,329,927.52. This represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,676 shares of company stock valued at $2,613,807 over the last ninety days. Corporate insiders own 0.38% of the company's stock.

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.