eBay Inc. (NASDAQ:EBAY) Position Reduced by Meritage Portfolio Management

Meritage Portfolio Management reduced its holdings in eBay Inc. (NASDAQ:EBAY) by 2.0% in the 4th quarter, Holdings Channel reports. The fund owned 111,869 shares of the e-commerce company’s stock after selling 2,304 shares during the period. Meritage Portfolio Management’s holdings in eBay were worth $6,930,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in EBAY. Nordea Investment Management AB grew its stake in shares of eBay by 3.8% in the 4th quarter. Nordea Investment Management AB now owns 9,151,026 shares of the e-commerce company’s stock valued at $573,220,000 after buying an additional 335,035 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of eBay by 4.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,447,627 shares of the e-commerce company’s stock valued at $354,695,000 after buying an additional 216,162 shares during the last quarter. Smead Capital Management Inc. lifted its position in shares of eBay by 3.5% in the 3rd quarter. Smead Capital Management Inc. now owns 3,725,760 shares of the e-commerce company’s stock worth $242,584,000 after acquiring an additional 125,708 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in eBay by 4.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,888,758 shares of the e-commerce company’s stock worth $117,009,000 after purchasing an additional 73,351 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of eBay during the 3rd quarter valued at about $105,506,000. 87.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Stephen J. Priest sold 5,252 shares of eBay stock in a transaction on Monday, December 16th. The shares were sold at an average price of $63.63, for a total transaction of $334,184.76. Following the completion of the transaction, the chief financial officer now owns 65,080 shares of the company’s stock, valued at $4,141,040.40. This trade represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.38, for a total value of $350,887.50. Following the completion of the transaction, the chief executive officer now directly owns 542,248 shares in the company, valued at $33,825,430.24. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,524 shares of company stock valued at $1,367,784. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EBAY shares. The Goldman Sachs Group lifted their price target on shares of eBay from $46.00 to $55.00 and gave the company a “sell” rating in a report on Tuesday, October 15th. Citigroup raised their target price on shares of eBay from $68.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Stifel Nicolaus upped their price objective on eBay from $56.00 to $64.00 and gave the company a “hold” rating in a report on Monday, October 28th. Deutsche Bank Aktiengesellschaft cut their target price on shares of eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Finally, Jefferies Financial Group lowered eBay from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $60.00 to $52.00 in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.92.

eBay Trading Down 0.3 %

Shares of EBAY opened at $66.95 on Wednesday. The business’s fifty day moving average is $64.54 and its 200-day moving average is $62.14. The firm has a market cap of $32.07 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 2.15 and a beta of 1.35. 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 Inc. has a 52-week low of $40.74 and a 52-week high of $71.52.

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.