Lord Abbett & CO. LLC Acquires Shares of 386,000 eBay Inc. (NASDAQ:EBAY)

Lord Abbett & CO. LLC purchased a new position in eBay Inc. (NASDAQ:EBAY - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 386,000 shares of the e-commerce company's stock, valued at approximately $25,132,000. Lord Abbett & CO. LLC owned approximately 0.08% of eBay at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of EBAY. Tortoise Investment Management LLC increased its stake in shares of eBay by 894.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company's stock worth $28,000 after acquiring an additional 465 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of eBay during the second quarter valued at approximately $29,000. Gradient Investments LLC lifted its holdings in shares of eBay by 86.3% during the second quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company's stock valued at $33,000 after purchasing an additional 284 shares during the last quarter. Quarry LP bought a new stake in shares of eBay in the 3rd quarter worth approximately $36,000. Finally, USA Financial Formulas purchased a new stake in shares of eBay in the 3rd quarter worth approximately $38,000. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Cantor Fitzgerald reissued a "neutral" rating and issued a $62.00 target price on shares of eBay in a report on Monday, October 7th. StockNews.com downgraded shares of eBay from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 target price on shares of eBay in a report on Thursday, October 31st. Robert W. Baird cut their price target on shares of eBay from $70.00 to $68.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. Finally, Jefferies Financial Group lowered shares of eBay from a "hold" rating to an "underperform" rating and decreased their price objective for the stock from $60.00 to $52.00 in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $62.63.

eBay Price Performance

Shares of EBAY traded down $0.20 during mid-day trading on Monday, reaching $63.64. The stock had a trading volume of 4,413,681 shares, compared to its average volume of 5,295,875. The firm has a market cap of $30.48 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 2.20 and a beta of 1.35. eBay Inc. has a 12 month low of $40.16 and a 12 month high of $67.80. The business has a fifty day moving average of $63.37 and a 200 day moving average of $59.19. 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a $0.27 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a yield of 1.70%. eBay's payout ratio is presently 27.14%.

Insiders Place Their Bets

In related news, CEO Jamie Iannone sold 5,625 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $63.21, for a total value of $355,556.25. Following the sale, the chief executive officer now directly owns 531,167 shares in the company, valued at approximately $33,575,066.07. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the sale, the senior vice president now directly owns 70,113 shares in the company, valued at approximately $4,530,000.93. The trade was a 5.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,641 shares of company stock worth $1,773,224. Corporate insiders own 0.38% of the company's stock.

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.