Allspring Global Investments Holdings LLC Has $17.58 Million Stock Position in eBay Inc. (NASDAQ:EBAY)

Allspring Global Investments Holdings LLC cut its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 47.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,237 shares of the e-commerce company’s stock after selling 232,744 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in eBay were worth $17,576,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Ameriprise Financial Inc. grew its stake 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 valued at $1,765,148,000 after purchasing an additional 3,149,934 shares during the period. Independent Franchise Partners LLP boosted its stake 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 buying an additional 2,277,839 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in eBay by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company’s stock valued at $435,665,000 after buying an additional 245,624 shares in the last quarter. Northern Trust Corp grew its position in eBay by 17.8% in the fourth quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company’s stock valued at $421,834,000 after acquiring an additional 1,030,292 shares during the period. Finally, Victory Capital Management Inc. raised its stake in eBay by 1.4% during the fourth quarter. Victory Capital Management Inc. now owns 5,936,508 shares of the e-commerce company’s stock worth $367,767,000 after acquiring an additional 82,904 shares in the last quarter. 87.48% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EBAY. Morgan Stanley upped their price objective on shares of eBay from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Wells Fargo & Company boosted their target price on eBay from $63.00 to $66.00 and gave the stock an “equal weight” rating in a report on Monday. Barclays increased their price target on eBay from $72.00 to $77.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. Daiwa Capital Markets upgraded eBay from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Monday, May 12th. Finally, Needham & Company LLC increased their price target on shares of eBay from $72.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $67.85.

Insider Transactions at eBay

In other news, SVP Julie A. Loeger sold 127,070 shares of the company’s stock in a transaction on Friday, May 9th. The shares were sold at an average price of $69.43, for a total transaction of $8,822,470.10. Following the completion of the transaction, the senior vice president directly owned 123,282 shares in the company, valued at approximately $8,559,469.26. This represents a 50.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $66.21, for a total value of $77,267.07. Following the sale, the chief financial officer directly owned 65,080 shares in the company, valued at $4,308,946.80. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 280,358 shares of company stock valued at $20,032,051. Company insiders own 0.64% of the company’s stock.

eBay Trading Down 0.4%

eBay stock opened at $75.78 on Thursday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a 50-day simple moving average of $73.18 and a 200 day simple moving average of $68.36. The stock has a market capitalization of $34.93 billion, a P/E ratio of 18.04, a PEG ratio of 2.13 and a beta of 1.26. eBay Inc. has a 52 week low of $52.14 and a 52 week high of $79.84.

eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. The business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. eBay had a net margin of 19.78% and a return on equity of 36.60%. eBay’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 EPS. Analysts expect that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.53%. eBay’s dividend payout ratio (DPR) is currently 27.62%.

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.