324,046 Shares in eBay Inc. (NASDAQ:EBAY) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in shares of eBay Inc. (NASDAQ:EBAY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 324,046 shares of the e-commerce company’s stock, valued at approximately $20,075,000.

Other hedge funds have also bought and sold shares of the company. Oppenheimer & Co. Inc. bought a new position in shares of eBay in the third quarter worth approximately $256,000. Pathstone Holdings LLC lifted its stake in shares of eBay by 2.2% in the third quarter. Pathstone Holdings LLC now owns 79,177 shares of the e-commerce company’s stock worth $5,155,000 after buying an additional 1,696 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of eBay by 4.2% in the third quarter. PNC Financial Services Group Inc. now owns 186,059 shares of the e-commerce company’s stock worth $12,114,000 after buying an additional 7,585 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of eBay by 125.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 104,630 shares of the e-commerce company’s stock worth $6,812,000 after buying an additional 58,165 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in shares of eBay by 22.1% in the third quarter. Advisors Asset Management Inc. now owns 10,969 shares of the e-commerce company’s stock worth $714,000 after buying an additional 1,984 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.

Analysts Set New Price Targets

EBAY has been the topic of several analyst reports. Cantor Fitzgerald upped their target price on shares of eBay from $65.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Wedbush initiated coverage on shares of eBay in a report on Monday, December 9th. They set a “neutral” rating and a $70.00 price objective for the company. Wells Fargo & Company reissued an “equal weight” rating on shares of eBay in a report on Thursday, February 27th. Morgan Stanley boosted their price objective on shares of eBay from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Susquehanna boosted their price objective on shares of eBay from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $65.54.

Insider Activity

In other news, CFO Stephen J. Priest sold 1,033 shares of the firm’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $64.93, for a total transaction of $67,072.69. Following the sale, the chief financial officer now directly owns 65,080 shares in the company, valued at $4,225,644.40. This trade represents a 1.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the firm’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 sale, the chief executive officer now owns 542,248 shares in the company, valued at $33,825,430.24. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,241 shares of company stock worth $1,061,665 in the last three months. Company insiders own 0.38% of the company’s stock.

eBay Stock Performance

Shares of NASDAQ EBAY opened at $65.78 on Friday. The stock has a market cap of $30.65 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. eBay Inc. has a 1 year low of $48.52 and a 1 year high of $71.61. The firm has a fifty day moving average price of $66.99 and a 200-day moving average price of $64.68. 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 company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.76%. This is an increase from eBay’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 14th. eBay’s dividend payout ratio (DPR) is presently 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.