Primecap Management Co. CA Reduces Holdings in eBay Inc. (NASDAQ:EBAY)

Primecap Management Co. CA reduced its position in shares of eBay Inc. (NASDAQ:EBAY) by 3.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,178,870 shares of the e-commerce company’s stock after selling 77,420 shares during the period. Primecap Management Co. CA’s holdings in eBay were worth $134,981,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Tocqueville Asset Management L.P. increased its stake in eBay by 0.7% during the 4th quarter. Tocqueville Asset Management L.P. now owns 83,007 shares of the e-commerce company’s stock worth $5,142,000 after buying an additional 611 shares during the period. Flagship Wealth Advisors LLC acquired a new stake in shares of eBay during the fourth quarter valued at about $61,000. TCTC Holdings LLC increased its position in shares of eBay by 0.8% during the fourth quarter. TCTC Holdings LLC now owns 73,380 shares of the e-commerce company’s stock worth $4,546,000 after acquiring an additional 601 shares during the last quarter. Cibc World Markets Corp lifted its stake in shares of eBay by 18.5% in the fourth quarter. Cibc World Markets Corp now owns 79,503 shares of the e-commerce company’s stock worth $4,925,000 after acquiring an additional 12,391 shares in the last quarter. Finally, Greenwich Wealth Management LLC boosted its holdings in eBay by 1.4% in the fourth quarter. Greenwich Wealth Management LLC now owns 28,755 shares of the e-commerce company’s stock valued at $1,781,000 after purchasing an additional 394 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Stephen J. Priest sold 1,033 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were 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 directly owns 65,080 shares in the company, valued at $4,225,644.40. This trade represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 542,248 shares in the company, valued at $33,825,430.24. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,283 shares of company stock valued at $796,241. Company insiders own 0.38% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wedbush assumed coverage on eBay in a research report on Monday, December 9th. They issued a “neutral” rating and a $70.00 target price on the stock. UBS Group increased their price objective on shares of eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Benchmark raised their price objective on shares of eBay from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. upped their target price on shares of eBay from $58.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Finally, Jefferies Financial Group downgraded eBay from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $60.00 to $52.00 in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $65.54.

eBay Stock Performance

EBAY opened at $65.24 on Wednesday. eBay Inc. has a twelve month low of $48.52 and a twelve month high of $71.61. The stock has a market cap of $30.40 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. The business’s 50 day moving average is $67.10 and its 200-day moving average is $64.56. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.29 dividend. This is a boost from eBay’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.78%. eBay’s dividend payout ratio 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.