Primecap Management Co. CA Sells 77,420 Shares of eBay Inc. (NASDAQ:EBAY)

Primecap Management Co. CA cut its holdings in eBay Inc. (NASDAQ:EBAY - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,178,870 shares of the e-commerce company's stock after selling 77,420 shares during the quarter. Primecap Management Co. CA owned approximately 0.45% of eBay worth $134,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Nordea Investment Management AB increased its stake in shares of eBay by 3.8% in the fourth quarter. Nordea Investment Management AB now owns 9,151,026 shares of the e-commerce company's stock valued at $573,220,000 after buying an additional 335,035 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of eBay by 1.4% in the fourth quarter. Victory Capital Management Inc. now owns 5,936,508 shares of the e-commerce company's stock valued at $367,767,000 after buying an additional 82,904 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in eBay by 4.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,447,627 shares of the e-commerce company's stock worth $354,695,000 after purchasing an additional 216,162 shares during the period. Amundi increased its position in eBay by 16.8% in the fourth quarter. Amundi now owns 4,719,128 shares of the e-commerce company's stock worth $292,350,000 after purchasing an additional 677,389 shares during the period. Finally, Smead Capital Management Inc. increased its position in eBay by 3.5% in the third quarter. Smead Capital Management Inc. now owns 3,725,760 shares of the e-commerce company's stock worth $242,584,000 after purchasing an additional 125,708 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In other news, CFO Stephen J. Priest sold 1,033 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was 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. This trade represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jamie Iannone sold 5,625 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.38, for a total value of $350,887.50. Following the completion of the sale, the chief executive officer now owns 542,248 shares of the company's stock, valued at $33,825,430.24. This trade represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,241 shares of company stock valued at $1,061,665. Company insiders own 0.38% of the company's stock.

eBay Stock Performance

EBAY traded down $0.56 during trading hours on Friday, reaching $65.78. The company's stock had a trading volume of 15,353,333 shares, compared to its average volume of 4,755,448. The company's 50-day moving average is $66.99 and its 200-day moving average is $64.64. eBay Inc. has a 52 week low of $48.52 and a 52 week high of $71.61. The firm has a market cap of $30.65 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25.

eBay Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from eBay's previous quarterly dividend of $0.27. eBay's dividend payout ratio (DPR) is currently 29.07%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Benchmark lifted their price objective on eBay from $65.00 to $75.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Wedbush assumed coverage on eBay in a report on Monday, December 9th. They set a "neutral" rating and a $70.00 target price on the stock. JMP Securities restated a "market perform" rating on shares of eBay in a report on Monday, December 16th. Citigroup raised their target price on eBay from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Finally, Barclays set a $72.00 target price on eBay and gave the stock an "overweight" rating in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $65.54.

eBay 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.