Geode Capital Management LLC Increases Position in eBay Inc. (NASDAQ:EBAY)

Geode Capital Management LLC increased its position in shares of eBay Inc. (NASDAQ:EBAY) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,584,067 shares of the e-commerce company’s stock after acquiring an additional 20,431 shares during the quarter. Geode Capital Management LLC owned approximately 2.63% of eBay worth $778,229,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of eBay from $58.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Citigroup lifted their price target on shares of eBay from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, February 14th. Susquehanna upped their price objective on eBay from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Morgan Stanley lifted their target price on eBay from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Benchmark upped their price target on eBay from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, eBay presently has a consensus rating of “Hold” and a consensus target price of $65.46.

Insider Activity at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $67.25, for a total value of $378,281.25. Following the completion of the transaction, the chief executive officer now owns 530,998 shares in the company, valued at approximately $35,709,615.50. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen J. Priest sold 1,033 shares of the company’s stock in a transaction that occurred 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 directly owns 65,080 shares in the company, valued at approximately $4,225,644.40. This represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,616 shares of company stock valued at $710,777 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

eBay Price Performance

EBAY stock opened at $67.42 on Thursday. The stock’s 50 day moving average is $67.27 and its two-hundred day moving average is $65.03. eBay Inc. has a 52-week low of $48.52 and a 52-week high of $71.61. The company has a market capitalization of $31.42 billion, a PE ratio of 16.94, a P/E/G ratio of 2.22 and a beta of 1.45. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date was Friday, March 14th. This is a positive change from eBay’s previous quarterly dividend of $0.27. eBay’s payout ratio is 29.07%.

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.