Massachusetts Financial Services Co. MA Has $129.65 Million Holdings in eBay Inc. (NASDAQ:EBAY)

Massachusetts Financial Services Co. MA trimmed its position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 20.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,991,313 shares of the e-commerce company's stock after selling 501,670 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.42% of eBay worth $129,654,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of EBAY. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in eBay during the second quarter valued at about $26,000. Tortoise Investment Management LLC boosted its position in shares of eBay by 894.2% in the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company's stock worth $28,000 after buying an additional 465 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of eBay in the second quarter worth about $29,000. LRI Investments LLC purchased a new stake in shares of eBay in the first quarter worth about $29,000. Finally, USA Financial Formulas purchased a new stake in shares of eBay in the third quarter worth about $38,000. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

eBay Price Performance

Shares of EBAY traded up $1.83 during trading hours on Friday, hitting $63.24. 3,104,477 shares of the company were exchanged, compared to its average volume of 4,834,939. The company has a market capitalization of $30.29 billion, a PE ratio of 15.89, a PEG ratio of 1.60 and a beta of 1.34. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a fifty day simple moving average of $63.55 and a 200-day simple moving average of $57.92. eBay Inc. has a one year low of $40.16 and a one year high of $67.80.

eBay Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.27 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.71%. eBay's payout ratio is currently 27.14%.

Insider Activity

In other news, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the sale, the chief financial officer now owns 70,332 shares in the company, valued at $4,494,918.12. This represents a 26.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $59.91, for a total value of $336,993.75. Following the sale, the chief executive officer now owns 548,042 shares of the company's stock, valued at approximately $32,833,196.22. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,016 shares of company stock worth $3,015,417 over the last quarter. Corporate insiders own 0.38% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EBAY. Barclays decreased their target price on eBay from $65.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price target on shares of eBay in a report on Thursday, October 31st. Daiwa America raised eBay to a "hold" rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. reduced their price target on eBay from $60.00 to $58.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Finally, Evercore ISI increased their price target on eBay from $47.00 to $53.00 and gave the company an "in-line" rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $62.87.

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.