Legal & General Group Plc Has $311.48 Million Stake in eBay Inc. (NASDAQ:EBAY)

Legal & General Group Plc reduced its position in eBay Inc. (NASDAQ:EBAY - Free Report) by 14.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 5,027,885 shares of the e-commerce company's stock after selling 859,346 shares during the period. Legal & General Group Plc owned about 1.05% of eBay worth $311,477,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in shares of eBay by 2.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 53,580 shares of the e-commerce company's stock worth $3,489,000 after acquiring an additional 1,063 shares during the last quarter. Kestra Investment Management LLC boosted its holdings in shares of eBay by 172.5% in the 4th quarter. Kestra Investment Management LLC now owns 11,175 shares of the e-commerce company's stock valued at $692,000 after purchasing an additional 7,074 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of eBay by 5,091.9% during the 4th quarter. Van ECK Associates Corp now owns 142,051 shares of the e-commerce company's stock valued at $8,800,000 after buying an additional 139,315 shares during the period. Jones Financial Companies Lllp grew its stake in shares of eBay by 35.1% during the 4th quarter. Jones Financial Companies Lllp now owns 8,121 shares of the e-commerce company's stock valued at $503,000 after buying an additional 2,110 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in shares of eBay during the 4th quarter worth $8,644,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at eBay

In other news, SVP Cornelius Boone sold 3,958 shares of the stock in a transaction on Tuesday, March 18th. The stock was 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 in the company, valued at $6,329,927.52. This represents a 4.02 % 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, CFO Stephen J. Priest sold 1,033 shares of the firm's stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $64.93, for a total value of $67,072.69. Following the completion of the sale, the chief financial officer now directly owns 65,080 shares of the company's stock, valued at approximately $4,225,644.40. This trade represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,176 shares of company stock worth $3,111,432. 0.38% of the stock is owned by corporate insiders.

eBay Trading Up 3.4 %

NASDAQ EBAY traded up $2.11 on Friday, hitting $64.58. 5,545,795 shares of the company were exchanged, compared to its average volume of 4,955,365. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. eBay Inc. has a twelve month low of $48.52 and a twelve month high of $71.61. The firm has a market capitalization of $30.09 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43. The company's 50 day moving average price is $66.50 and its 200-day moving average price is $64.93.

eBay Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.80%. This is a positive change from eBay's previous quarterly dividend of $0.27. eBay's payout ratio is currently 29.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on EBAY shares. StockNews.com raised eBay from a "hold" rating to a "buy" rating in a research report on Wednesday. Barclays set a $72.00 price objective on eBay and gave the company an "overweight" rating in a research report on Thursday, February 27th. JMP Securities reaffirmed a "market perform" rating on shares of eBay in a research report on Monday, December 16th. Morgan Stanley increased their target price on shares of eBay from $70.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Finally, Citigroup upped their target price on shares of eBay from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, eBay currently has a consensus rating of "Hold" and a consensus price target of $65.21.

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.