KLP Kapitalforvaltning AS Purchases Shares of 324,046 eBay Inc. (NASDAQ:EBAY)

KLP Kapitalforvaltning AS purchased a new stake in eBay Inc. (NASDAQ:EBAY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 324,046 shares of the e-commerce company’s stock, valued at approximately $20,075,000. KLP Kapitalforvaltning AS owned 0.07% of eBay at the end of the most recent reporting period.

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

Insider Activity

In other news, 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 owns 94,392 shares of the company’s stock, valued at approximately $6,329,927.52. The trade was a 4.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.38, for a total transaction of $350,887.50. Following the sale, the chief executive officer now directly owns 542,248 shares in the company, valued at $33,825,430.24. The trade was a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,241 shares of company stock valued at $1,061,665. Corporate insiders own 0.38% of the company’s stock.

eBay Trading Down 0.8 %

Shares of EBAY opened at $65.78 on Friday. The firm’s 50-day moving average price is $66.99 and its 200-day moving average price is $64.68. The firm has a market capitalization of $30.65 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 2.22 and a beta of 1.45. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. eBay Inc. has a 1-year low of $48.52 and a 1-year high of $71.61.

eBay Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.29 per share. This is a positive change from eBay’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.76%. eBay’s payout ratio is presently 29.07%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Susquehanna lifted their price objective on shares of eBay from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price objective on shares of eBay in a report on Thursday, February 27th. Wedbush assumed coverage on shares of eBay in a report on Monday, December 9th. They set a “neutral” rating and a $70.00 price objective for the company. Benchmark lifted 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. 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, sixteen have assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $65.54.

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.