M&G PLC Reduces Stock Holdings in eBay Inc. $EBAY

M&G PLC cut its stake in shares of eBay Inc. (NASDAQ:EBAY) by 11.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,480,225 shares of the e-commerce company’s stock after selling 305,474 shares during the period. eBay makes up approximately 1.2% of M&G PLC’s holdings, making the stock its 27th biggest holding. M&G PLC’s holdings in eBay were worth $225,700,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Zions Bancorporation National Association UT raised its stake in shares of eBay by 31.7% during the third quarter. Zions Bancorporation National Association UT now owns 876 shares of the e-commerce company’s stock valued at $80,000 after purchasing an additional 211 shares during the period. Tobam purchased a new stake in eBay during the 3rd quarter worth $1,750,000. State of New Jersey Common Pension Fund D lifted its holdings in eBay by 2.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 160,585 shares of the e-commerce company’s stock worth $14,605,000 after buying an additional 3,280 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in eBay by 1.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 189,772 shares of the e-commerce company’s stock valued at $17,260,000 after buying an additional 2,677 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of eBay by 2.3% during the third quarter. HighTower Advisors LLC now owns 123,961 shares of the e-commerce company’s stock valued at $11,274,000 after acquiring an additional 2,738 shares in the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.

eBay Stock Performance

eBay stock opened at $82.38 on Monday. The company has a market cap of $37.24 billion, a PE ratio of 17.91, a P/E/G ratio of 1.92 and a beta of 1.38. eBay Inc. has a 12 month low of $58.71 and a 12 month high of $101.15. The company has a fifty day moving average price of $88.35 and a two-hundred day moving average price of $89.56. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.92 and a quick ratio of 0.92.

Insider Buying and Selling at eBay

In other news, SVP Jordan Douglas Bradle Sweetnam sold 33,441 shares of the company’s stock in a transaction that occurred on Friday, January 30th. The stock was sold at an average price of $91.99, for a total transaction of $3,076,237.59. Following the completion of the transaction, the senior vice president directly owned 4,733 shares of the company’s stock, valued at approximately $435,388.67. This represents a 87.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Mazen Rawashdeh sold 1,920 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $81.90, for a total value of $157,248.00. Following the sale, the senior vice president owned 5,746 shares in the company, valued at $470,597.40. The trade was a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 44,590 shares of company stock worth $4,000,814 in the last ninety days. Insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on EBAY shares. Piper Sandler cut their price target on eBay from $102.00 to $98.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Sanford C. Bernstein set a $90.00 target price on eBay in a research report on Friday, October 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of eBay from $96.00 to $100.00 in a research report on Thursday, October 30th. Truist Financial upped their price target on shares of eBay from $86.00 to $92.00 and gave the company a “hold” rating in a report on Monday, November 3rd. Finally, Daiwa Securities Group reduced their price objective on shares of eBay from $99.00 to $84.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 12th. Fourteen investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $95.66.

About eBay

eBay Inc is a global e-commerce company that operates an online marketplace connecting individual consumers and businesses for the sale and purchase of new, used and collectible goods. Founded in 1995 by Pierre Omidyar and headquartered in San Jose, California, eBay grew from its early auction-style site into a diversified platform offering both auction-format listings and fixed-price “Buy It Now” transactions. The company completed an initial public offering in the late 1990s and has since evolved its platform and services to support a broad range of product categories and buyer preferences.

The company’s core business centers on its marketplace platform, which provides listing, search and transaction capabilities for millions of items across consumer goods, electronics, fashion, collectibles and more.