Massachusetts Financial Services Co. MA Has $129.65 Million Holdings in eBay Inc. (NASDAQ:EBAY)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 20.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,991,313 shares of the e-commerce company’s stock after selling 501,670 shares during the period. Massachusetts Financial Services Co. MA’s holdings in eBay were worth $129,654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EBAY. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of eBay during the second quarter worth $26,000. Tortoise Investment Management LLC lifted its position in eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after buying an additional 465 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in eBay during the 2nd quarter worth about $29,000. LRI Investments LLC acquired a new stake in eBay in the 1st quarter valued at about $29,000. Finally, USA Financial Formulas bought a new position in shares of eBay in the third quarter worth about $38,000. 87.48% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $59.91, for a total value of $336,993.75. Following the completion of the transaction, the chief executive officer now directly owns 548,042 shares of the company’s stock, valued at approximately $32,833,196.22. This represents a 1.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total value of $77,757.21. Following the completion of the sale, the chief financial officer now directly owns 65,079 shares in the company, valued at $4,336,213.77. This represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,016 shares of company stock worth $3,015,417 over the last quarter. 0.38% of the stock is currently owned by company insiders.

eBay Trading Up 3.0 %

NASDAQ:EBAY opened at $63.24 on Friday. 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 business’s 50-day simple moving average is $63.55 and its 200-day simple moving average is $57.92. eBay Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $67.80. The stock has a market capitalization of $30.29 billion, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.60 and a beta of 1.34.

eBay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Friday, November 29th. eBay’s payout ratio is currently 27.14%.

Wall Street Analysts Forecast Growth

EBAY has been the topic of several research analyst reports. Sanford C. Bernstein raised shares of eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a research note on Tuesday, November 5th. UBS Group dropped their target price on eBay from $72.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 price target on shares of eBay in a report on Monday, October 7th. Daiwa America upgraded eBay to a “hold” rating in a research report on Wednesday, August 14th. Finally, StockNews.com downgraded shares of eBay from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $62.87.

About eBay

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.