Massachusetts Financial Services Co. MA Cuts Stock Holdings in eBay Inc. (NASDAQ:EBAY)

Massachusetts Financial Services Co. MA cut its stake in eBay Inc. (NASDAQ:EBAY) by 20.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,492,983 shares of the e-commerce company’s stock after selling 623,669 shares during the period. Massachusetts Financial Services Co. MA owned about 0.50% of eBay worth $133,923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in eBay by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock worth $3,321,403,000 after acquiring an additional 4,524,934 shares in the last quarter. M&G Plc purchased a new stake in shares of eBay during the 1st quarter worth $97,557,000. Swedbank AB acquired a new position in shares of eBay during the first quarter worth $73,777,000. LSV Asset Management increased its holdings in eBay by 22.2% in the second quarter. LSV Asset Management now owns 6,705,345 shares of the e-commerce company’s stock valued at $360,211,000 after buying an additional 1,216,885 shares during the last quarter. Finally, Norges Bank acquired a new stake in eBay in the fourth quarter valued at $53,019,000. 87.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective on eBay from $57.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Cantor Fitzgerald initiated coverage on shares of eBay in a research note on Thursday, September 5th. They issued a “neutral” rating and a $62.00 price target on the stock. StockNews.com downgraded shares of eBay from a “buy” rating to a “hold” rating in a research report on Monday, September 9th. Evercore ISI increased their target price on shares of eBay from $47.00 to $53.00 and gave the company an “in-line” rating in a research report on Thursday, August 1st. Finally, Truist Financial boosted their price target on shares of eBay from $50.00 to $58.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, eBay currently has an average rating of “Hold” and an average target price of $56.90.

Insiders Place Their Bets

In other eBay news, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the sale, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.38% of the stock is owned by company insiders.

eBay Stock Performance

NASDAQ EBAY opened at $63.17 on Thursday. The stock has a market capitalization of $31.71 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 2.35 and a beta of 1.32. The business’s 50 day moving average is $57.23 and its two-hundred day moving average is $53.88. eBay Inc. has a 12-month low of $37.17 and a 12-month high of $64.96. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.12.

eBay (NASDAQ:EBAY) last released its quarterly earnings data on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.88. eBay had a return on equity of 29.69% and a net margin of 26.41%. The firm had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.53 billion. Research analysts expect that eBay Inc. will post 3.86 EPS for the current year.

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.08 annualized dividend and a yield of 1.71%. eBay’s dividend payout ratio is presently 21.51%.

eBay Company 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.