Westpac Banking Corp Sells 6,530 Shares of eBay Inc. (NASDAQ:EBAY)

Westpac Banking Corp trimmed its stake in shares of eBay Inc. (NASDAQ:EBAY) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,222 shares of the e-commerce company’s stock after selling 6,530 shares during the quarter. Westpac Banking Corp’s holdings in eBay were worth $4,722,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighPoint Advisor Group LLC grew its stake in eBay by 4.6% in the 4th quarter. HighPoint Advisor Group LLC now owns 3,904 shares of the e-commerce company’s stock valued at $267,000 after buying an additional 172 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of eBay by 12.7% during the fourth quarter. Franklin Resources Inc. now owns 883,986 shares of the e-commerce company’s stock worth $54,763,000 after acquiring an additional 99,608 shares during the period. FSB Premier Wealth Management Inc. grew its position in shares of eBay by 16.1% in the fourth quarter. FSB Premier Wealth Management Inc. now owns 15,799 shares of the e-commerce company’s stock valued at $979,000 after purchasing an additional 2,196 shares during the last quarter. Brandywine Global Investment Management LLC grew its position in shares of eBay by 49.7% in the fourth quarter. Brandywine Global Investment Management LLC now owns 665,814 shares of the e-commerce company’s stock valued at $41,247,000 after purchasing an additional 221,129 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of eBay by 34.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,330 shares of the e-commerce company’s stock worth $268,000 after purchasing an additional 1,105 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on EBAY. JMP Securities reaffirmed a “market perform” rating on shares of eBay in a report on Monday, December 16th. 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 report on Monday, March 3rd. Morgan Stanley raised their price target on shares of eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Citigroup boosted their price objective on shares of eBay from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, February 14th. Finally, UBS Group raised their target price on shares of eBay from $66.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.46.

Insider Transactions at eBay

In related news, CFO Stephen J. Priest sold 1,033 shares of the business’s stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $64.93, for a total value of $67,072.69. Following the sale, the chief financial officer now owns 65,080 shares of the company’s stock, valued at $4,225,644.40. The trade was a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Cornelius Boone sold 3,958 shares of the stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total value of $265,423.48. Following the completion of the sale, the senior vice president now owns 94,392 shares of the company’s stock, valued at $6,329,927.52. The trade was a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,616 shares of company stock worth $710,777. Insiders own 0.38% of the company’s stock.

eBay Trading Down 0.6 %

NASDAQ EBAY opened at $67.42 on Thursday. The company has a market cap of $31.42 billion, a price-to-earnings ratio of 16.94, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. eBay Inc. has a twelve month low of $48.52 and a twelve month high of $71.61. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The business’s fifty day moving average is $67.27 and its 200 day moving average is $65.03.

eBay Increases Dividend

The company also recently declared 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.72%. This is a positive change from eBay’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, March 14th. eBay’s dividend payout ratio (DPR) is presently 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.