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

Massachusetts Financial Services Co. MA reduced its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 15.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,683,393 shares of the e-commerce company’s stock after selling 307,920 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.35% of eBay worth $104,286,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of eBay during the fourth quarter valued at about $27,000. Quarry LP purchased a new stake in eBay in the 3rd quarter worth approximately $36,000. New Wave Wealth Advisors LLC bought a new position in eBay in the 4th quarter valued at $36,000. Lee Danner & Bass Inc. purchased a new position in shares of eBay during the 4th quarter valued at $40,000. Finally, Versant Capital Management Inc increased its holdings in shares of eBay by 115.5% in the fourth quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock worth $52,000 after purchasing an additional 448 shares during the period. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on EBAY shares. Wedbush began coverage on eBay in a research report on Monday, December 9th. They set a “neutral” rating and a $70.00 target price for the company. Morgan Stanley boosted their price objective on eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Cantor Fitzgerald raised their target price on shares of eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Citigroup boosted their price target on shares of eBay from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, Stifel Nicolaus lowered their price objective on shares of eBay from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $65.46.

eBay Trading Down 6.0 %

EBAY opened at $62.40 on Friday. The firm 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 Inc. has a one year low of $48.52 and a one year high of $71.61. The business has a 50 day simple moving average of $67.26 and a two-hundred day simple moving average of $65.03. 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 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 positive change from eBay’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.86%. eBay’s dividend payout ratio (DPR) is presently 29.07%.

Insider Buying and Selling

In related news, CFO Stephen J. Priest sold 28,060 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $67.82, for a total value of $1,903,029.20. Following the completion of the transaction, the chief financial officer now directly owns 65,080 shares of the company’s stock, valued at $4,413,725.60. This represents a 30.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Cornelius Boone sold 3,958 shares of eBay stock in a transaction that occurred 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. The trade was a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,676 shares of company stock valued at $2,613,807 over the last quarter. 0.38% of the stock is owned by company insiders.

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.