Massachusetts Financial Services Co. MA Sells 426,750 Shares of eBay Inc. (NASDAQ:EBAY)

Massachusetts Financial Services Co. MA decreased its stake in eBay Inc. (NASDAQ:EBAY - Free Report) by 25.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,256,643 shares of the e-commerce company's stock after selling 426,750 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.27% of eBay worth $85,112,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased 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 last quarter. Independent Franchise Partners LLP grew its stake in eBay by 25.6% in 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 buying an additional 2,277,839 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in eBay by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company's stock valued at $435,665,000 after buying an additional 245,624 shares during the last quarter. Northern Trust Corp grew its stake in eBay by 17.8% in the 4th quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company's stock valued at $421,834,000 after buying an additional 1,030,292 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in eBay by 7.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,834,195 shares of the e-commerce company's stock worth $361,428,000 after purchasing an additional 386,568 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company's stock.

eBay Stock Up 1.8%

Shares of eBay stock traded up $1.35 on Friday, hitting $78.14. The company had a trading volume of 6,744,525 shares, compared to its average volume of 5,060,166. The firm has a market capitalization of $36.02 billion, a P/E ratio of 18.60, a P/E/G ratio of 2.15 and a beta of 1.26. eBay Inc. has a twelve month low of $53.10 and a twelve month high of $79.84. 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 stock has a 50-day moving average of $74.96 and a 200-day moving average of $69.34.

eBay (NASDAQ:EBAY - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share for the quarter, beating 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 19.78% and a return on equity of 36.60%. The business's quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 earnings per share. Research analysts predict that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend was Friday, May 30th. eBay's dividend payout ratio (DPR) is presently 27.62%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EBAY. Morgan Stanley raised their price target on shares of eBay from $70.00 to $74.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Wedbush restated a "neutral" rating and issued a $72.00 price target on shares of eBay in a research report on Wednesday, June 11th. UBS Group lifted their price target on shares of eBay from $72.00 to $73.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 29th. TD Securities lifted their price target on shares of eBay from $62.00 to $64.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Finally, Stifel Nicolaus lifted their target price on shares of eBay from $61.00 to $62.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Two 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $68.12.

Insider Activity

In other news, SVP Julie A. Loeger sold 127,070 shares of the company'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. This represents a 50.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 transaction of $1,825,935.86. Following the completion of the sale, the senior vice president directly owned 44,413 shares in the company, 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. Insiders sold 347,222 shares of company stock worth $25,143,522 over the last quarter. 0.64% of the stock is currently owned by company insiders.

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.