Allstate Corp Purchases Shares of 14,333 eBay Inc. (NASDAQ:EBAY)

Allstate Corp acquired a new position in eBay Inc. (NASDAQ:EBAY) in the 4th quarter, Holdings Channel reports. The firm acquired 14,333 shares of the e-commerce company’s stock, valued at approximately $888,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Golden State Wealth Management LLC purchased a new position in eBay in the 4th quarter worth approximately $27,000. Quarry LP purchased a new position in shares of eBay in the third quarter valued at $36,000. New Wave Wealth Advisors LLC acquired a new stake in eBay during the 4th quarter valued at $36,000. Lee Danner & Bass Inc. purchased a new stake in eBay during the 4th quarter worth $40,000. Finally, Versant Capital Management Inc lifted its holdings in eBay by 115.5% in the 4th quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock worth $52,000 after buying an additional 448 shares in the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.

Insider Transactions at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.38, for a total value of $350,887.50. Following the sale, the chief executive officer now owns 542,248 shares of the company’s stock, valued at approximately $33,825,430.24. The trade was a 1.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cornelius Boone sold 3,958 shares of the company’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 completion of the sale, the senior vice president now owns 94,392 shares of the company’s stock, 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 valued at $1,061,665. Company insiders own 0.38% of the company’s stock.

eBay Price Performance

Shares of NASDAQ EBAY opened at $67.73 on Tuesday. The stock has a market cap of $31.56 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.22 and a beta of 1.45. The firm’s 50-day simple moving average is $67.14 and its 200 day simple moving average is $64.99. eBay Inc. has a fifty-two week low of $48.52 and a fifty-two week high of $71.61. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from eBay’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, March 14th. eBay’s payout ratio is 29.07%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on EBAY shares. Benchmark raised 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 lifted their price target on eBay from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday, March 3rd. UBS Group upped their price objective on eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Citigroup lifted their target price on eBay from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, BMO Capital Markets upped their price target on eBay from $59.00 to $63.00 and gave the company a “market perform” rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $65.54.

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.