Allspring Global Investments Holdings LLC Sells 232,744 Shares of eBay Inc. (NASDAQ:EBAY)

Allspring Global Investments Holdings LLC cut its holdings in eBay Inc. (NASDAQ:EBAY - Free Report) by 47.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 259,237 shares of the e-commerce company's stock after selling 232,744 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.06% of eBay worth $17,576,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. BSW Wealth Partners acquired a new stake in shares of eBay in the 1st quarter valued at approximately $202,000. Jag Capital Management LLC acquired a new stake in eBay in the first quarter worth $359,000. 3Chopt Investment Partners LLC bought a new position in shares of eBay during the first quarter worth $237,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of eBay by 10.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,258 shares of the e-commerce company's stock valued at $6,935,000 after buying an additional 9,900 shares in the last quarter. Finally, Achmea Investment Management B.V. raised its stake in eBay by 28.5% during the 1st quarter. Achmea Investment Management B.V. now owns 381,912 shares of the e-commerce company's stock worth $25,866,000 after buying an additional 84,797 shares during the period. Institutional investors and hedge funds own 87.48% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Daiwa America upgraded eBay from a "hold" rating to a "strong-buy" rating in a report on Monday, May 12th. Daiwa Capital Markets raised eBay from a "neutral" rating to a "buy" rating and set a $70.00 target price for the company in a research note on Monday, May 12th. JPMorgan Chase & Co. raised their target price on shares of eBay from $60.00 to $66.00 and gave the stock a "neutral" rating in a report on Wednesday, June 4th. Cantor Fitzgerald upped their price target on shares of eBay from $65.00 to $69.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. Finally, Wall Street Zen raised shares of eBay from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, eBay currently has an average rating of "Hold" and a consensus target price of $67.85.

eBay Stock Performance

NASDAQ EBAY traded up $0.56 on Friday, hitting $76.34. 2,162,941 shares of the stock were exchanged, compared to its average volume of 5,047,638. The company has a market capitalization of $35.19 billion, a PE ratio of 18.18, a P/E/G ratio of 2.13 and a beta of 1.26. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.17. The business's fifty day moving average is $73.53 and its 200 day moving average is $68.56. eBay Inc. has a 52 week low of $52.15 and a 52 week high of $79.84.

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

eBay Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.52%. eBay's payout ratio is 27.62%.

Insiders Place Their Bets

In other news, SVP Julie A. Loeger sold 127,070 shares of the stock in a transaction dated 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 transaction, the senior vice president directly owned 123,282 shares of the company's stock, valued at $8,559,469.26. This represents a 50.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the firm's stock in a transaction dated Tuesday, June 17th. The stock was 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 of the company's stock, valued at approximately $3,436,677.94. This represents a 34.70% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 326,183 shares of company stock valued at $23,490,942. 0.64% of the stock is owned by insiders.

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.