Massachusetts Financial Services Co. MA Sells 307,920 Shares of eBay Inc. (NASDAQ:EBAY)

Massachusetts Financial Services Co. MA lowered its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 15.5% during the 4th quarter, HoldingsChannel reports. The fund owned 1,683,393 shares of the e-commerce company’s stock after selling 307,920 shares during the period. Massachusetts Financial Services Co. MA’s holdings in eBay were worth $104,286,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EBAY. Smithfield Trust Co raised its position in shares of eBay by 3.6% in the 4th quarter. Smithfield Trust Co now owns 4,411 shares of the e-commerce company’s stock worth $274,000 after purchasing an additional 153 shares during the last quarter. Cypress Wealth Services LLC increased its stake in eBay by 4.7% during the 4th quarter. Cypress Wealth Services LLC now owns 3,488 shares of the e-commerce company’s stock valued at $216,000 after purchasing an additional 157 shares in the last quarter. IFP Advisors Inc raised its holdings in eBay by 7.2% in the fourth quarter. IFP Advisors Inc now owns 2,417 shares of the e-commerce company’s stock worth $150,000 after buying an additional 163 shares during the last quarter. Capital Investment Advisors LLC lifted its stake in shares of eBay by 4.1% in the fourth quarter. Capital Investment Advisors LLC now owns 4,226 shares of the e-commerce company’s stock worth $262,000 after buying an additional 167 shares in the last quarter. Finally, Bailard Inc. grew its holdings in shares of eBay by 0.5% during the fourth quarter. Bailard Inc. now owns 34,651 shares of the e-commerce company’s stock valued at $2,147,000 after buying an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EBAY. 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. Wedbush initiated coverage on eBay in a research note on Monday, December 9th. They issued a “neutral” rating and a $70.00 price target for the company. Stifel Nicolaus dropped their price objective on eBay from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. BMO Capital Markets boosted their target price on eBay from $59.00 to $63.00 and gave the stock a “market perform” rating in a research report on Thursday, February 27th. Finally, UBS Group raised their price target on shares of eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $65.46.

Insider Activity

In related news, CEO Jamie Iannone sold 5,625 shares of the business’s 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 transaction, the chief executive officer now directly owns 530,998 shares of the company’s stock, valued at approximately $35,709,615.50. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen J. Priest sold 1,033 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 65,080 shares of the company’s stock, valued at $4,225,644.40. The trade was a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,676 shares of company stock worth $2,613,807 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

eBay Stock Down 6.0 %

Shares of EBAY stock opened at $62.40 on Friday. 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 one year low of $48.52 and a one year high of $71.61. The company’s fifty day moving average price is $67.26 and its 200-day moving average price is $65.03. The company has a market capitalization of $29.08 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 2.22 and a beta of 1.43.

eBay Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, March 14th. This is a boost from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 1.86%. eBay’s dividend payout ratio (DPR) is currently 29.07%.

About eBay

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.