Assenagon Asset Management S.A. Decreases Position in eBay Inc. (NASDAQ:EBAY)

Assenagon Asset Management S.A. reduced its position in shares of eBay Inc. (NASDAQ:EBAY) by 35.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,843 shares of the e-commerce company’s stock after selling 28,990 shares during the period. Assenagon Asset Management S.A.’s holdings in eBay were worth $3,274,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of eBay in the third quarter worth approximately $36,000. USA Financial Formulas acquired a new stake in eBay during the 3rd quarter worth $38,000. Northwest Investment Counselors LLC acquired a new stake in eBay during the 3rd quarter worth $50,000. Versant Capital Management Inc grew its holdings in shares of eBay by 115.5% during the fourth 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. Finally, Financial Management Professionals Inc. raised its position in shares of eBay by 276.0% in the third quarter. Financial Management Professionals Inc. now owns 846 shares of the e-commerce company’s stock valued at $55,000 after buying an additional 621 shares during the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.

Insider Buying and Selling at eBay

In related news, CFO Stephen J. Priest sold 5,252 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $63.63, for a total transaction of $334,184.76. Following the sale, the chief financial officer now directly owns 65,080 shares in the company, valued at approximately $4,141,040.40. This represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $59.91, for a total transaction of $336,993.75. Following the completion of the sale, the chief executive officer now directly owns 548,042 shares in the company, valued at approximately $32,833,196.22. This trade represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,149 shares of company stock valued at $1,704,778 in the last 90 days. Company insiders own 0.38% of the company’s stock.

eBay Stock Down 2.4 %

Shares of EBAY opened at $64.63 on Wednesday. The company’s 50-day simple moving average is $63.70 and its 200-day simple moving average is $61.18. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. eBay Inc. has a 1 year low of $40.74 and a 1 year high of $71.52. The stock has a market capitalization of $30.96 billion, a PE ratio of 16.24, a P/E/G ratio of 2.10 and a beta of 1.35.

eBay Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a yield of 1.67%. eBay’s dividend payout ratio (DPR) is presently 27.14%.

Analyst Ratings Changes

Several analysts recently issued reports on EBAY shares. Jefferies Financial Group cut shares of eBay from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $60.00 to $52.00 in a research note on Tuesday, December 10th. Wells Fargo & Company dropped their price target on eBay from $62.00 to $59.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Morgan Stanley lifted their price objective on eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Bank of America dropped their target price on eBay from $67.00 to $64.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price target on eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, eBay currently has an average rating of “Hold” and a consensus target price of $62.83.

About eBay

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.