Grove Bank & Trust Boosts Stock Position in eBay Inc. (NASDAQ:EBAY)

Grove Bank & Trust boosted its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,245 shares of the e-commerce company’s stock after purchasing an additional 273 shares during the quarter. Grove Bank & Trust’s holdings in eBay were worth $139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. HB Wealth Management LLC raised its stake in eBay by 2.1% during the 4th quarter. HB Wealth Management LLC now owns 9,984 shares of the e-commerce company’s stock valued at $619,000 after purchasing an additional 210 shares during the period. Alhambra Investment Management LLC bought a new stake in eBay during the 4th quarter valued at approximately $262,000. Merit Financial Group LLC raised its stake in eBay by 169.9% during the 4th quarter. Merit Financial Group LLC now owns 9,302 shares of the e-commerce company’s stock valued at $576,000 after purchasing an additional 5,855 shares during the period. Avanza Fonder AB bought a new stake in eBay during the 4th quarter valued at approximately $3,263,000. Finally, Cypress Wealth Services LLC increased its stake in eBay by 4.7% in the 4th quarter. Cypress Wealth Services LLC now owns 3,488 shares of the e-commerce company’s stock worth $216,000 after acquiring an additional 157 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.

Insider Transactions at eBay

In related news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $59.91, for a total transaction of $336,993.75. Following the transaction, the chief executive officer now directly owns 548,042 shares of the company’s stock, valued at $32,833,196.22. This represents a 1.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stephen J. Priest sold 1,033 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $64.93, for a total value of $67,072.69. Following the completion of the transaction, the chief financial officer now directly owns 65,080 shares in the company, valued at $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. In the last three months, insiders sold 27,149 shares of company stock valued at $1,704,778. Corporate insiders own 0.38% of the company’s stock.

eBay Price Performance

Shares of EBAY stock opened at $66.19 on Tuesday. eBay Inc. has a twelve month low of $40.33 and a twelve month high of $71.52. The stock has a market capitalization of $31.71 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 2.10 and a beta of 1.35. The stock has a fifty day simple moving average of $63.63 and a two-hundred day simple moving average of $61.09. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.63%. The ex-dividend date was Friday, November 29th. eBay’s payout ratio is 27.14%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on EBAY shares. The Goldman Sachs Group lifted their price objective on eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, October 15th. Robert W. Baird reduced their price objective on eBay from $70.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price objective on eBay from $56.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. JMP Securities reaffirmed a “market perform” rating on shares of eBay in a research note on Monday, December 16th. Finally, Jefferies Financial Group downgraded 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 research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $62.83.

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.