1,553,098 Shares in eBay Inc. (NASDAQ:EBAY) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of eBay Inc. (NASDAQ:EBAY) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 1,553,098 shares of the e-commerce company’s stock, valued at approximately $96,214,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Smithfield Trust Co boosted its holdings in eBay by 3.6% during the fourth quarter. Smithfield Trust Co now owns 4,411 shares of the e-commerce company’s stock worth $274,000 after purchasing an additional 153 shares during the last quarter. Cypress Wealth Services LLC boosted its holdings in eBay by 4.7% during the fourth quarter. Cypress Wealth Services LLC now owns 3,488 shares of the e-commerce company’s stock worth $216,000 after purchasing an additional 157 shares during the last quarter. IFP Advisors Inc boosted its holdings in eBay by 7.2% during the fourth quarter. IFP Advisors Inc now owns 2,417 shares of the e-commerce company’s stock worth $150,000 after purchasing an additional 163 shares during the last quarter. Capital Investment Advisors LLC boosted its holdings in eBay by 4.1% during the fourth quarter. Capital Investment Advisors LLC now owns 4,226 shares of the e-commerce company’s stock worth $262,000 after purchasing an additional 167 shares during the last quarter. Finally, Bailard Inc. boosted its stake in eBay by 0.5% in the fourth quarter. Bailard Inc. now owns 34,651 shares of the e-commerce company’s stock valued at $2,147,000 after acquiring an additional 169 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on EBAY shares. Barclays set a $72.00 target price on shares of eBay and gave the company an “overweight” rating in a research note on Thursday, February 27th. Wells Fargo & Company boosted their target price on shares of eBay from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Jefferies Financial Group cut shares of eBay from a “hold” rating to an “underperform” rating and dropped their target price for the company from $60.00 to $52.00 in a research note on Tuesday, December 10th. UBS Group boosted their target price on shares of eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Finally, Susquehanna boosted their target price on shares of eBay from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $65.54.

Insider Buying and Selling

In other news, SVP Cornelius Boone sold 3,989 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $65.20, for a total value of $260,082.80. Following the transaction, the senior vice president now owns 71,469 shares of the company’s stock, valued at $4,659,778.80. This represents a 5.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $67.25, for a total transaction of $378,281.25. Following the completion of the transaction, the chief executive officer now directly owns 530,998 shares in the company, valued at $35,709,615.50. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,524 shares of company stock valued at $1,390,509. Company insiders own 0.38% of the company’s stock.

eBay Stock Performance

eBay stock opened at $70.51 on Friday. The firm’s 50 day simple moving average is $66.60 and its 200 day simple moving average is $64.18. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $32.86 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. eBay Inc. has a 1-year low of $48.52 and a 1-year high of $71.61.

eBay Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, March 14th. This is a positive change from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio is 29.07%.

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.