Empower Advisory Group LLC Cuts Position in eBay Inc. (NASDAQ:EBAY)

Empower Advisory Group LLC reduced its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 21.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,527 shares of the e-commerce company’s stock after selling 1,224 shares during the period. Empower Advisory Group LLC’s holdings in eBay were worth $280,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC acquired a new stake in shares of eBay during the 4th quarter worth about $27,000. Quarry LP bought a new stake in eBay during the third quarter valued at $36,000. New Wave Wealth Advisors LLC bought a new stake in eBay during the fourth quarter valued at $36,000. Versant Capital Management Inc increased its stake in eBay by 115.5% during the fourth quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock valued at $52,000 after purchasing an additional 448 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its holdings in shares of eBay by 276.0% in the 3rd quarter. Financial Management Professionals Inc. now owns 846 shares of the e-commerce company’s stock valued at $55,000 after purchasing an additional 621 shares during the period. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their target price on eBay from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Piper Sandler lifted their target price on shares of eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Morgan Stanley boosted their price objective on shares of eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Wedbush began coverage on shares of eBay in a research report on Monday, December 9th. They set a “neutral” rating and a $70.00 target price on the stock. Finally, Bank of America decreased their target price on shares of eBay from $67.00 to $64.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, eBay has an average rating of “Hold” and an average price target of $63.13.

Insider Buying and Selling at eBay

In other eBay news, 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 value of $378,281.25. Following the completion of the sale, the chief executive officer now owns 530,998 shares in the company, valued at $35,709,615.50. This trade represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Cornelius Boone sold 3,989 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $65.20, for a total transaction of $260,082.80. Following the completion of the sale, the senior vice president now owns 71,469 shares of the company’s stock, valued at approximately $4,659,778.80. This represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,149 shares of company stock worth $1,746,065 over the last quarter. 0.38% of the stock is currently owned by insiders.

eBay Stock Performance

Shares of EBAY opened at $69.33 on Thursday. eBay Inc. has a 12 month low of $42.97 and a 12 month high of $71.52. The firm has a fifty day simple moving average of $65.53 and a 200 day simple moving average of $63.13. The stock has a market capitalization of $33.21 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 2.23 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14.

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.