eBay Inc. (NASDAQ:EBAY) Position Reduced by Empowered Funds LLC

Empowered Funds LLC reduced its position in shares of eBay Inc. (NASDAQ:EBAY) by 18.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 86,679 shares of the e-commerce company’s stock after selling 19,679 shares during the quarter. Empowered Funds LLC’s holdings in eBay were worth $5,370,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Wellington Management Group LLP bought a new position in eBay during the third quarter valued at about $105,506,000. International Assets Investment Management LLC grew its stake in shares of eBay by 9,092.5% in the 3rd quarter. International Assets Investment Management LLC now owns 585,013 shares of the e-commerce company’s stock worth $38,090,000 after purchasing an additional 578,649 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of eBay by 599.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 538,744 shares of the e-commerce company’s stock worth $35,078,000 after purchasing an additional 461,708 shares in the last quarter. Lord Abbett & CO. LLC acquired a new stake in eBay during the third quarter valued at approximately $25,132,000. Finally, Nordea Investment Management AB boosted its holdings in eBay by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 9,151,026 shares of the e-commerce company’s stock worth $573,220,000 after buying an additional 335,035 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors and hedge funds.

eBay Stock Up 0.3 %

Shares of eBay stock opened at $68.46 on Wednesday. eBay Inc. has a 12-month low of $40.74 and a 12-month high of $71.52. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The stock has a 50 day moving average price of $64.86 and a two-hundred day moving average price of $62.54. The stock has a market capitalization of $32.79 billion, a P/E ratio of 17.20, a PEG ratio of 2.15 and a beta of 1.35.

Insider Buying and Selling

In other news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $63.21, for a total transaction of $355,556.25. Following the completion of the transaction, the chief executive officer now directly owns 531,167 shares in the company, valued at $33,575,066.07. The trade was a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Cornelius Boone sold 3,989 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $65.20, for a total value of $260,082.80. Following the completion of the sale, the senior vice president now directly owns 71,469 shares of the company’s stock, valued at $4,659,778.80. This represents a 5.29 % 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 $1,746,065. Company insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EBAY shares. JMP Securities reissued a “market perform” rating on shares of eBay in a research note on Monday, December 16th. Morgan Stanley lifted their price target on eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Mizuho upped their price objective on shares of eBay from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group lifted their target price on shares of eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, October 15th. Finally, Robert W. Baird decreased their price objective on shares of eBay from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $62.92.

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.