Cresset Asset Management LLC Has $1.38 Million Stake in eBay Inc. (NASDAQ:EBAY)

Cresset Asset Management LLC lowered its stake in shares of eBay Inc. (NASDAQ:EBAY) by 60.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 22,322 shares of the e-commerce company’s stock after selling 33,681 shares during the period. Cresset Asset Management LLC’s holdings in eBay were worth $1,383,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Ameriprise Financial Inc. raised its holdings in shares of eBay by 12.4% in 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 buying an additional 3,149,934 shares in the last quarter. Independent Franchise Partners LLP raised its position 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 purchasing an additional 2,277,839 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in eBay by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company’s stock worth $435,665,000 after purchasing an additional 245,624 shares in the last quarter. Northern Trust Corp grew its holdings in shares of eBay by 17.8% during the fourth quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company’s stock worth $421,834,000 after purchasing an additional 1,030,292 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of eBay by 1.4% in the fourth quarter. Victory Capital Management Inc. now owns 5,936,508 shares of the e-commerce company’s stock valued at $367,767,000 after buying an additional 82,904 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.

Insider Buying and Selling

In other news, CEO Jamie Iannone sold 7,500 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $66.35, for a total transaction of $497,625.00. Following the completion of the transaction, the chief executive officer now directly owns 590,108 shares in the company, valued at $39,153,665.80. This trade represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cornelius Boone sold 3,958 shares of the firm’s 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 owns 94,392 shares of the company’s stock, valued at approximately $6,329,927.52. This represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,685 shares of company stock valued at $4,121,245 over the last ninety days. Company insiders own 0.38% of the company’s stock.

eBay Price Performance

Shares of eBay stock opened at $69.51 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. eBay Inc. has a one year low of $51.02 and a one year high of $71.61. The stock has a market capitalization of $32.04 billion, a P/E ratio of 17.46, a price-to-earnings-growth ratio of 2.22 and a beta of 1.30. The business’s 50 day simple moving average is $66.25 and its two-hundred day simple moving average is $65.21.

eBay (NASDAQ:EBAY) last posted its earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.55 billion. eBay had a return on equity of 30.97% and a net margin of 19.68%. eBay’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period last year, the firm earned $1.25 earnings per share. Analysts forecast that eBay Inc. will post 3.86 EPS for the current year.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 annualized dividend and a dividend yield of 1.67%. eBay’s dividend payout ratio is presently 27.62%.

Wall Street Analyst Weigh In

A number of brokerages have commented on EBAY. Benchmark increased their price objective on shares of eBay from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Cantor Fitzgerald boosted their price objective on shares of eBay from $65.00 to $69.00 and gave the stock a “neutral” rating in a research report on Thursday, May 1st. Susquehanna increased their price objective on eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Robert W. Baird boosted their target price on eBay from $68.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Finally, Evercore ISI raised their price target on eBay from $63.00 to $69.00 and gave the company an “in-line” rating in a report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, eBay currently has an average rating of “Hold” and a consensus target price of $67.32.

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.