Cresset Asset Management LLC Lowers Position in eBay Inc. (NASDAQ:EBAY)

Cresset Asset Management LLC decreased its stake in eBay Inc. (NASDAQ:EBAY) by 60.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,322 shares of the e-commerce company’s stock after selling 33,681 shares during the quarter. Cresset Asset Management LLC’s holdings in eBay were worth $1,383,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Golden State Wealth Management LLC purchased a new position in shares of eBay during the 4th quarter valued at $27,000. Itau Unibanco Holding S.A. bought a new stake in eBay during the fourth quarter valued at about $33,000. New Wave Wealth Advisors LLC purchased a new position in shares of eBay in the fourth quarter valued at about $36,000. Transce3nd LLC bought a new position in shares of eBay in the fourth quarter worth about $36,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of eBay during the fourth quarter worth about $40,000. Institutional investors own 87.48% of the company’s stock.

Insider Buying and Selling at eBay

In related news, CFO Stephen J. Priest sold 28,060 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $67.82, for a total value of $1,903,029.20. Following the completion of the sale, the chief financial officer now owns 65,080 shares in the company, valued at approximately $4,413,725.60. The trade was a 30.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Cornelius Boone sold 3,958 shares of the stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total value of $265,423.48. Following the completion of the transaction, the senior vice president now directly owns 94,392 shares in the company, valued at approximately $6,329,927.52. This trade represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,685 shares of company stock valued at $4,121,245 in the last three months. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on EBAY shares. Sanford C. Bernstein cut eBay from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $70.00 to $65.00 in a report on Tuesday, April 22nd. Cantor Fitzgerald raised their target price on shares of eBay from $65.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their price target on shares of eBay from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, May 1st. Evercore ISI increased their price objective on shares of eBay from $63.00 to $69.00 and gave the company an “in-line” rating in a report on Thursday, May 1st. Finally, TD Securities lifted their target price on eBay from $62.00 to $64.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $67.32.

eBay Trading Down 1.5 %

EBAY opened at $69.51 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock’s 50 day moving average price is $66.25 and its 200-day moving average price is $65.21. eBay Inc. has a one year low of $51.02 and a one year high of $71.61. The stock has a market cap of $32.04 billion, a price-to-earnings ratio of 17.46, a P/E/G ratio of 2.22 and a beta of 1.30.

eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Wednesday, April 30th. The e-commerce company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.34 by $0.04. eBay had a return on equity of 30.97% and a net margin of 19.68%. The company had revenue of $2.59 billion for the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the prior year, the company posted $1.25 EPS. eBay’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts forecast that eBay Inc. will post 3.86 EPS for the current year.

eBay Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 1.67%. eBay’s payout ratio is 27.62%.

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.