Franklin Resources Inc. Purchases 99,608 Shares of eBay Inc. (NASDAQ:EBAY)

Franklin Resources Inc. grew its position in shares of eBay Inc. (NASDAQ:EBAY) by 12.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 883,986 shares of the e-commerce company’s stock after buying an additional 99,608 shares during the quarter. Franklin Resources Inc.’s holdings in eBay were worth $54,763,000 as of its most recent filing with the Securities & Exchange Commission.

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

eBay Price Performance

EBAY stock opened at $62.40 on Friday. The company has a market capitalization of $29.08 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43. The company’s fifty day moving average price is $67.26 and its 200-day moving average price is $65.03. eBay Inc. has a one year low of $48.52 and a one year 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.

eBay Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio is 29.07%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Morgan Stanley lifted their price target on shares of eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. JMP Securities restated a “market perform” rating on shares of eBay in a report on Monday, December 16th. Cantor Fitzgerald boosted their target price 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. Wedbush initiated coverage on eBay in a research note on Monday, December 9th. They issued a “neutral” rating and a $70.00 price target on the stock. Finally, Benchmark lifted their price objective on eBay from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $65.46.

Insider Activity

In related news, CFO Stephen J. Priest sold 28,060 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $67.82, for a total value of $1,903,029.20. Following 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 SEC, which is accessible through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the 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 transaction, the chief executive officer now owns 530,998 shares of the company’s stock, valued at $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 38,676 shares of company stock worth $2,613,807 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

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.