Proficio Capital Partners LLC Invests $8.64 Million in eBay Inc. (NASDAQ:EBAY)

Proficio Capital Partners LLC bought a new position in shares of eBay Inc. (NASDAQ:EBAY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 139,537 shares of the e-commerce company’s stock, valued at approximately $8,644,000.

Several other hedge funds have also modified their holdings of the company. Smithfield Trust Co boosted its stake in shares of eBay by 3.6% during the 4th quarter. Smithfield Trust Co now owns 4,411 shares of the e-commerce company’s stock worth $274,000 after acquiring an additional 153 shares in the last quarter. Cypress Wealth Services LLC boosted its stake in shares of eBay by 4.7% during 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 in the last quarter. IFP Advisors Inc boosted its stake in shares of eBay by 7.2% during the 4th quarter. IFP Advisors Inc now owns 2,417 shares of the e-commerce company’s stock worth $150,000 after acquiring an additional 163 shares in the last quarter. Capital Investment Advisors LLC lifted its stake in eBay by 4.1% in the 4th quarter. Capital Investment Advisors LLC now owns 4,226 shares of the e-commerce company’s stock valued at $262,000 after buying an additional 167 shares in the last quarter. Finally, Bailard Inc. lifted its stake in eBay by 0.5% in the 4th quarter. Bailard Inc. now owns 34,651 shares of the e-commerce company’s stock valued at $2,147,000 after buying an additional 169 shares in the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Cantor Fitzgerald raised their price target on shares of eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Morgan Stanley raised their price target on shares of eBay from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Bank of America decreased their price target on shares of eBay from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday, February 27th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of eBay in a research note on Thursday, February 27th. Finally, Wedbush assumed coverage on shares of eBay in a research note on Monday, December 9th. They issued a “neutral” rating and a $70.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $65.54.

eBay Stock Up 1.6 %

eBay stock opened at $65.28 on Friday. eBay Inc. has a fifty-two week low of $48.52 and a fifty-two week high of $71.61. 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 firm has a 50 day moving average price of $66.97 and a 200 day moving average price of $64.41. The company has a market capitalization of $30.42 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45.

eBay Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio (DPR) is 29.07%.

Insider Activity at eBay

In other eBay news, CFO Stephen J. Priest sold 5,252 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $63.63, for a total value of $334,184.76. Following the completion of the transaction, the chief financial officer now owns 65,080 shares in the company, valued at $4,141,040.40. The trade was a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was 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 of the company’s stock, 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. In the last quarter, insiders sold 21,524 shares of company stock worth $1,390,509. Insiders own 0.38% of the company’s stock.

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.