Crestline Management LP Reduces Stock Position in eBay Inc. (NASDAQ:EBAY)

Crestline Management LP reduced its position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 52.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,962 shares of the e-commerce company's stock after selling 6,592 shares during the period. Crestline Management LP's holdings in eBay were worth $369,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its position in eBay by 2.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 53,580 shares of the e-commerce company's stock valued at $3,489,000 after purchasing an additional 1,063 shares during the last quarter. Kestra Investment Management LLC boosted its position in eBay by 172.5% during the fourth quarter. Kestra Investment Management LLC now owns 11,175 shares of the e-commerce company's stock valued at $692,000 after purchasing an additional 7,074 shares during the last quarter. Van ECK Associates Corp boosted its position in eBay by 5,091.9% during the fourth quarter. Van ECK Associates Corp now owns 142,051 shares of the e-commerce company's stock valued at $8,800,000 after purchasing an additional 139,315 shares during the last quarter. Jones Financial Companies Lllp boosted its position in eBay by 35.1% during the fourth quarter. Jones Financial Companies Lllp now owns 8,121 shares of the e-commerce company's stock valued at $503,000 after purchasing an additional 2,110 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of eBay in the fourth quarter valued at approximately $8,644,000. 87.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity at eBay

In related news, SVP Cornelius Boone sold 3,958 shares of the business's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total transaction of $265,423.48. Following the completion of the transaction, the senior vice president now directly owns 94,392 shares in the company, valued at $6,329,927.52. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen J. Priest sold 1,167 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $66.21, for a total transaction of $77,267.07. Following the completion of the transaction, the chief financial officer now directly owns 65,080 shares of the company's stock, valued at approximately $4,308,946.80. This represents a 1.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,755 shares of company stock worth $12,943,715. Insiders own 0.38% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on EBAY. JPMorgan Chase & Co. lifted their target price on shares of eBay from $54.00 to $60.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. UBS Group increased their target price on eBay from $72.00 to $73.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 29th. Barclays lifted their price target on eBay from $72.00 to $77.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Citigroup reduced their price target on eBay from $80.00 to $79.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Morgan Stanley boosted their price target on eBay from $70.00 to $74.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $67.42.

eBay Price Performance

EBAY stock traded down $0.02 during midday trading on Wednesday, reaching $69.15. 3,683,686 shares of the stock were exchanged, compared to its average volume of 4,979,234. The stock has a market capitalization of $31.88 billion, a PE ratio of 17.37, a P/E/G ratio of 2.22 and a beta of 1.30. eBay Inc. has a 52 week low of $51.02 and a 52 week high of $71.61. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a fifty day moving average price of $66.33 and a 200 day moving average price of $65.29.

eBay (NASDAQ:EBAY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.04. The company had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.55 billion. eBay had a net margin of 19.68% and a return on equity of 30.97%. eBay's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.25 earnings per share. As a group, analysts expect that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.29 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 1.68%. eBay's payout ratio is 27.62%.

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.