Allianz Asset Management GmbH Sells 431,024 Shares of eBay Inc. (NASDAQ:EBAY)

Allianz Asset Management GmbH cut its position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 17.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,029,855 shares of the e-commerce company's stock after selling 431,024 shares during the period. Allianz Asset Management GmbH owned approximately 0.44% of eBay worth $137,482,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Impax Asset Management Group plc raised its position in eBay by 2,536.5% in the 1st quarter. Impax Asset Management Group plc now owns 3,535,290 shares of the e-commerce company's stock valued at $239,037,000 after purchasing an additional 3,401,198 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of eBay by 12.4% during the 4th quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company's stock worth $1,765,148,000 after purchasing an additional 3,149,934 shares during the period. Independent Franchise Partners LLP increased its holdings in eBay by 25.6% during the 4th quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company's stock valued at $692,517,000 after acquiring an additional 2,277,839 shares in the last quarter. Marshall Wace LLP increased its holdings in eBay by 304.2% during the 4th quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company's stock valued at $130,421,000 after acquiring an additional 1,584,404 shares in the last quarter. Finally, Bridgewater Associates LP increased its holdings in eBay by 531.1% during the 4th quarter. Bridgewater Associates LP now owns 1,780,737 shares of the e-commerce company's stock valued at $110,317,000 after acquiring an additional 1,498,566 shares in the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

eBay Stock Up 3.5%

Shares of NASDAQ:EBAY traded up $2.73 during trading on Tuesday, hitting $81.76. The company's stock had a trading volume of 4,212,880 shares, compared to its average volume of 5,062,237. The business has a 50 day moving average price of $75.13 and a two-hundred day moving average price of $69.55. The company has a market capitalization of $37.69 billion, a PE ratio of 19.47, a P/E/G ratio of 2.18 and a beta of 1.26. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.17 and a current ratio of 1.17. eBay Inc. has a fifty-two week low of $53.10 and a fifty-two week high of $81.90.

eBay (NASDAQ:EBAY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.34 by $0.04. The firm had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.55 billion. eBay had a net margin of 19.78% and a return on equity of 36.60%. eBay's quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 earnings per share. As a group, research analysts expect that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Friday, May 30th. eBay's dividend payout ratio is currently 27.62%.

Insiders Place Their Bets

In related news, SVP Julie A. Loeger sold 127,070 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $69.43, for a total value of $8,822,470.10. Following the sale, the senior vice president directly owned 123,282 shares in the company, valued at $8,559,469.26. The trade was a 50.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $77.38, for a total transaction of $1,825,935.86. Following the sale, the senior vice president owned 44,413 shares in the company, valued at $3,436,677.94. This represents a 34.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 347,222 shares of company stock valued at $25,143,522 over the last quarter. Company insiders own 0.64% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley reaffirmed an "overweight" rating and issued a $81.00 price objective (up previously from $74.00) on shares of eBay in a research report on Monday. UBS Group lifted their price objective on shares of eBay from $72.00 to $73.00 and gave the stock a "neutral" rating in a report on Tuesday, April 29th. Citizens Jmp upgraded eBay to a "hold" rating in a research note on Thursday, July 10th. Cowen reiterated a "hold" rating on shares of eBay in a research note on Tuesday. Finally, Susquehanna raised their target price on eBay from $65.00 to $70.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, eBay presently has a consensus rating of "Hold" and a consensus price target of $68.38.

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.