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

22 Nov 2024, 06:09 by Renee Jackson · The Cerbat Gem

Primecap Management Co. CA lessened its holdings in eBay Inc. (NASDAQ:EBAY – Free Report) by 1.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,256,290 shares of the e-commerce company’s stock after selling 36,720 shares during the quarter. Primecap Management Co. CA owned 0.47% of eBay worth $146,907,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its stake in shares of eBay by 17.6% in the second quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock valued at $1,394,797,000 after purchasing an additional 3,880,649 shares during the period. Swedbank AB purchased a new stake in eBay during the first quarter worth $73,777,000. Altshuler Shaham Ltd purchased a new position in shares of eBay in the second quarter valued at $71,593,000. LSV Asset Management raised its stake in shares of eBay by 22.2% during the 2nd quarter. LSV Asset Management now owns 6,705,345 shares of the e-commerce company’s stock worth $360,211,000 after buying an additional 1,216,885 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in eBay in the 2nd quarter valued at about $49,924,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

eBay Stock Performance

EBAY opened at $61.51 on Friday. 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 Inc. has a twelve month low of $40.16 and a twelve month high of $67.80. The business’s 50 day moving average is $63.56 and its 200-day moving average is $57.77. The stock has a market cap of $29.46 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.59 and a beta of 1.34.

eBay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, November 29th. This represents a $1.08 annualized dividend and a yield of 1.76%. eBay’s payout ratio is 27.14%.

Insider Buying and Selling

In related news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $59.91, for a total value of $336,993.75. Following the completion of the transaction, the chief executive officer now owns 548,042 shares in the company, valued at $32,833,196.22. This trade represents a 1.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the completion of the transaction, the chief financial officer now owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. The trade was a 26.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,016 shares of company stock valued at $3,015,417 over the last quarter. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

EBAY has been the topic of several recent research reports. Robert W. Baird reduced their price target on shares of eBay from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Benchmark reissued a “buy” rating and set a $65.00 target price on shares of eBay in a research report on Tuesday, October 29th. Mizuho raised their price target on shares of eBay from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Evercore ISI lifted their price objective on eBay from $47.00 to $53.00 and gave the stock an “in-line” rating in a report on Thursday, August 1st. Finally, Morgan Stanley upped their target price on shares of eBay from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, eBay presently has a consensus rating of “Hold” and an average target price of $62.87.

View Our Latest Stock Analysis on EBAY

eBay Company Profile

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