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

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky lifted its stake in shares of eBay by 2.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 36,959 shares of the e-commerce company's stock worth $2,503,000 after purchasing an additional 772 shares during the period. Atlantic Union Bankshares Corp lifted its position in eBay by 1.8% during the first quarter. Atlantic Union Bankshares Corp now owns 51,873 shares of the e-commerce company's stock valued at $3,513,000 after buying an additional 931 shares in the last quarter. IFP Advisors Inc grew its holdings in eBay by 59.6% during the 1st quarter. IFP Advisors Inc now owns 3,857 shares of the e-commerce company's stock valued at $261,000 after purchasing an additional 1,440 shares in the last quarter. AustralianSuper Pty Ltd lifted its stake in shares of eBay by 39.9% in the first quarter. AustralianSuper Pty Ltd now owns 1,701,646 shares of the e-commerce company's stock worth $115,252,000 after acquiring an additional 485,006 shares in the last quarter. Finally, Kestra Private Wealth Services LLC grew its position in shares of eBay by 1.9% during the first quarter. Kestra Private Wealth Services LLC now owns 9,149 shares of the e-commerce company's stock worth $620,000 after buying an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 87.48% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. increased their target price on eBay from $66.00 to $68.00 and gave the stock a "neutral" rating in a report on Friday, July 11th. Daiwa America raised eBay from a "hold" rating to a "strong-buy" rating in a report on Monday, May 12th. Cowen reaffirmed a "hold" rating on shares of eBay in a research note on Tuesday. Citigroup decreased their target price 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, Wells Fargo & Company upped their price target on eBay from $63.00 to $66.00 and gave the company an "equal weight" rating in a report on Monday, June 30th. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $69.42.

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 completion of the transaction, the senior vice president 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 SEC, which is available at the SEC website. Also, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $77.38, for a total value of $1,825,935.86. Following the sale, the senior vice president owned 44,413 shares of the company's stock, valued at approximately $3,436,677.94. The trade was a 34.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 347,222 shares of company stock valued at $25,143,522. Insiders own 0.64% of the company's stock.

eBay Stock Performance

Shares of NASDAQ:EBAY traded up $0.84 during trading on Thursday, reaching $82.77. The stock had a trading volume of 2,250,591 shares, compared to its average volume of 5,393,783. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. The stock has a fifty day simple moving average of $75.84 and a two-hundred day simple moving average of $69.84. The firm has a market capitalization of $38.16 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 2.28 and a beta of 1.26. eBay Inc. has a 52 week low of $53.10 and a 52 week high of $82.95.

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

eBay Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 1.40%. 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.