Twin Tree Management LP Sells 9,008 Shares of eBay Inc. (NASDAQ:EBAY)

Twin Tree Management LP reduced its stake in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 9.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,643 shares of the e-commerce company's stock after selling 9,008 shares during the quarter. Twin Tree Management LP's holdings in eBay were worth $5,615,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Greenwich Wealth Management LLC raised its stake in eBay by 1.4% during the 4th quarter. Greenwich Wealth Management LLC now owns 28,755 shares of the e-commerce company's stock worth $1,781,000 after buying an additional 394 shares during the period. Envestnet Portfolio Solutions Inc. raised its position in shares of eBay by 9.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 29,937 shares of the e-commerce company's stock worth $1,855,000 after purchasing an additional 2,589 shares during the period. Choate Investment Advisors raised its position in shares of eBay by 4.8% during the fourth quarter. Choate Investment Advisors now owns 13,220 shares of the e-commerce company's stock worth $819,000 after purchasing an additional 609 shares during the period. Frank Rimerman Advisors LLC lifted its holdings in shares of eBay by 6.0% during the 4th quarter. Frank Rimerman Advisors LLC now owns 6,148 shares of the e-commerce company's stock valued at $381,000 after purchasing an additional 347 shares in the last quarter. Finally, Atala Financial Inc acquired a new position in shares of eBay in the 4th quarter valued at approximately $110,000. 87.48% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EBAY. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price target on shares of eBay in a research note on Thursday, February 27th. Susquehanna upped their target price on shares of eBay from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, March 3rd. JMP Securities reissued a "market perform" rating on shares of eBay in a research note on Monday, December 16th. UBS Group lifted their price objective on shares of eBay from $66.00 to $72.00 and gave the company a "neutral" rating in a report on Monday, February 24th. Finally, Bank of America reduced their target price on shares of eBay from $72.00 to $71.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $65.54.

eBay Stock Performance

Shares of NASDAQ:EBAY traded down $0.56 on Friday, reaching $65.78. 15,353,306 shares of the company's stock were exchanged, compared to its average volume of 4,766,930. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. eBay Inc. has a twelve month low of $48.52 and a twelve month high of $71.61. The company has a fifty day moving average of $66.99 and a 200-day moving average of $64.59. The company has a market capitalization of $30.65 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.22 and a beta of 1.45.

eBay Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 yield of 1.76%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from eBay's previous quarterly dividend of $0.27. eBay's dividend payout ratio (DPR) is 29.07%.

Insider Activity

In other news, CEO Jamie Iannone sold 5,625 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.38, for a total transaction of $350,887.50. Following the completion of the transaction, the chief executive officer now directly owns 542,248 shares in the company, valued at approximately $33,825,430.24. This represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cornelius Boone sold 3,958 shares of the firm's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total value of $265,423.48. Following the sale, the senior vice president now directly owns 94,392 shares in the company, valued at approximately $6,329,927.52. This trade represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 16,241 shares of company stock worth $1,061,665. 0.38% of the stock is currently owned by company insiders.

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.