Sterling Capital Management LLC Sells 56,336 Shares of eBay Inc. (NASDAQ:EBAY)

Sterling Capital Management LLC decreased its position in eBay Inc. (NASDAQ:EBAY - Free Report) by 34.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 108,276 shares of the e-commerce company's stock after selling 56,336 shares during the period. Sterling Capital Management LLC's holdings in eBay were worth $6,708,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in shares of eBay by 1.2% in the third quarter. M&T Bank Corp now owns 44,174 shares of the e-commerce company's stock worth $2,876,000 after buying an additional 540 shares in the last quarter. TD Private Client Wealth LLC raised its stake in shares of eBay by 10.9% during the third quarter. TD Private Client Wealth LLC now owns 5,462 shares of the e-commerce company's stock valued at $356,000 after acquiring an additional 538 shares in the last quarter. TCW Group Inc. boosted its stake in shares of eBay by 43.1% during the third quarter. TCW Group Inc. now owns 36,981 shares of the e-commerce company's stock valued at $2,408,000 after purchasing an additional 11,134 shares in the last quarter. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of eBay during the third quarter valued at about $203,000. Finally, Sanctuary Advisors LLC increased its position in eBay by 72.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 52,310 shares of the e-commerce company's stock valued at $3,308,000 after buying an additional 21,940 shares in the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities analysts have weighed in on EBAY shares. Benchmark lifted their price objective on eBay from $65.00 to $75.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Susquehanna increased their price target on eBay from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, March 3rd. Morgan Stanley boosted their price objective on eBay from $70.00 to $72.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. Bank of America decreased their target price on eBay from $72.00 to $71.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. dropped their target price on eBay from $60.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Two investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $65.21.

Insider Buying and Selling at eBay

In other news, 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 transaction 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 $4,225,644.40. This trade represents a 1.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $67.25, for a total value of $378,281.25. Following the completion of the transaction, the chief executive officer now owns 530,998 shares in the company, valued at $35,709,615.50. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,176 shares of company stock valued at $3,111,432 in the last three months. Corporate insiders own 0.38% of the company's stock.

eBay Stock Up 2.5 %

NASDAQ EBAY traded up $1.62 during trading hours on Wednesday, hitting $67.12. The company had a trading volume of 2,774,769 shares, compared to its average volume of 4,947,473. The company has a market capitalization of $31.28 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 2.22 and a beta of 1.43. 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 fifty-two week low of $48.52 and a fifty-two week high of $71.61. The firm's 50 day moving average is $66.43 and its 200 day moving average is $64.95.

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 paid a $0.29 dividend. This is a boost from eBay's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.73%. eBay's payout ratio is 29.07%.

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.