Allstate Corp Invests $888,000 in eBay Inc. (NASDAQ:EBAY)

Allstate Corp purchased a new position in shares of eBay Inc. (NASDAQ:EBAY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,333 shares of the e-commerce company’s stock, valued at approximately $888,000.

Several other large investors have also recently added to or reduced their stakes in EBAY. Wellington Management Group LLP acquired a new position in eBay during the 3rd quarter worth approximately $105,506,000. Raymond James Financial Inc. purchased a new stake in shares of eBay in the fourth quarter valued at approximately $96,214,000. Boston Partners grew its holdings in eBay by 35.2% during the fourth quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company’s stock worth $362,823,000 after acquiring an additional 1,524,691 shares during the period. Amundi raised its position in eBay by 16.8% in the fourth quarter. Amundi now owns 4,719,128 shares of the e-commerce company’s stock worth $292,350,000 after acquiring an additional 677,389 shares in the last quarter. Finally, Norges Bank acquired a new stake in eBay in the fourth quarter valued at $40,805,000. 87.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EBAY has been the topic of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of eBay in a research note on Thursday, February 27th. Wedbush assumed coverage on shares of eBay in a report on Monday, December 9th. They issued a “neutral” rating and a $70.00 target price for the company. JMP Securities reiterated a “market perform” rating on shares of eBay in a research report on Monday, December 16th. Barclays set a $72.00 price target on eBay and gave the stock an “overweight” rating in a report on Thursday, February 27th. Finally, Jefferies Financial Group cut eBay from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $60.00 to $52.00 in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $65.54.

eBay Price Performance

Shares of NASDAQ:EBAY opened at $67.73 on Tuesday. The company has a market cap of $31.56 billion, a P/E ratio of 17.02, a P/E/G ratio of 2.22 and a beta of 1.45. The business has a fifty day simple moving average of $67.14 and a 200-day simple moving average of $64.99. eBay Inc. has a 52 week low of $48.52 and a 52 week 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.

eBay Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.71%. This is an increase from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio is currently 29.07%.

Insider Activity

In related news, SVP Cornelius Boone sold 3,958 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total transaction of $265,423.48. Following the completion of the transaction, 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 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 on Monday, February 3rd. The shares were sold at an average price of $67.25, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 16,241 shares of company stock valued at $1,061,665 in the last 90 days. 0.38% of the stock is currently owned by insiders.

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.