California Public Employees Retirement System Sells 100,516 Shares of eBay Inc. (NASDAQ:EBAY)

California Public Employees Retirement System cut its stake in shares of eBay Inc. (NASDAQ:EBAY) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 866,173 shares of the e-commerce company’s stock after selling 100,516 shares during the period. California Public Employees Retirement System’s holdings in eBay were worth $53,659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EBAY. Golden State Wealth Management LLC bought a new stake in eBay during the 4th quarter worth approximately $27,000. Quarry LP purchased a new position in shares of eBay during the 3rd quarter valued at $36,000. New Wave Wealth Advisors LLC bought a new position in shares of eBay in the fourth quarter worth $36,000. Lee Danner & Bass Inc. purchased a new stake in shares of eBay in the fourth quarter worth $40,000. Finally, Versant Capital Management Inc boosted its stake in eBay by 115.5% during the fourth quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock valued at $52,000 after buying an additional 448 shares during the period. 87.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on EBAY shares. Citigroup upped their target price on eBay from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Morgan Stanley raised their target price on shares of eBay from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Benchmark boosted their price target on shares of eBay from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Barclays set a $72.00 price objective on shares of eBay and gave the company an “overweight” rating in a research report on Thursday, February 27th. Finally, Bank of America dropped their price objective on shares of eBay from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $65.54.

eBay Stock Up 0.1 %

Shares of NASDAQ:EBAY opened at $67.80 on Wednesday. The stock’s 50-day moving average is $67.20 and its 200 day moving average is $65.02. The company has a market cap of $31.59 billion, a PE ratio of 17.04, a P/E/G ratio of 2.22 and a beta of 1.45. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. eBay Inc. has a 1 year low of $48.52 and a 1 year high of $71.61.

eBay Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.71%. eBay’s payout ratio is 29.07%.

Insider Activity at eBay

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.38, for a total value of $350,887.50. Following the completion of the transaction, the chief executive officer now directly owns 542,248 shares in the company, valued at approximately $33,825,430.24. This represents a 1.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Cornelius Boone sold 3,958 shares of eBay stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total transaction of $265,423.48. Following the sale, the senior vice president now directly owns 94,392 shares in the company, valued at $6,329,927.52. The trade was a 4.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 16,241 shares of company stock worth $1,061,665 over the last quarter. 0.38% of the stock is owned by corporate 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.