abrdn plc Sells 17,289 Shares of eBay Inc. (NASDAQ:EBAY)

abrdn plc reduced its stake in shares of eBay Inc. (NASDAQ:EBAY) by 6.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 243,683 shares of the e-commerce company’s stock after selling 17,289 shares during the quarter. abrdn plc’s holdings in eBay were worth $15,150,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP acquired a new position in eBay during the 3rd quarter worth $105,506,000. International Assets Investment Management LLC lifted its position in shares of eBay by 9,092.5% during 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 boosted its stake in eBay by 599.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 538,744 shares of the e-commerce company’s stock valued at $35,078,000 after purchasing an additional 461,708 shares during the period. Lord Abbett & CO. LLC acquired a new stake in eBay in the 3rd quarter valued at approximately $25,132,000. Finally, Nordea Investment Management AB increased its position in 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 worth $573,220,000 after buying an additional 335,035 shares during the period. Institutional investors and hedge funds own 87.48% of the company’s stock.

Insider Buying and Selling at eBay

In related news, 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 transaction, the senior vice president now directly owns 71,469 shares in the company, valued at $4,659,778.80. This represents a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were 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 approximately $33,575,066.07. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,149 shares of company stock worth $1,746,065. Insiders own 0.38% of the company’s stock.

eBay Stock Performance

Shares of eBay stock opened at $67.83 on Friday. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a 50 day simple moving average of $64.67 and a 200 day simple moving average of $62.22. eBay Inc. has a fifty-two week low of $40.74 and a fifty-two week high of $71.52. The firm has a market cap of $32.49 billion, a P/E ratio of 17.04, a P/E/G ratio of 2.15 and a beta of 1.35.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EBAY shares. Stifel Nicolaus increased their price objective on eBay from $56.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Mizuho raised their price target on shares of eBay from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Sanford C. Bernstein raised shares of eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research report on Tuesday, November 5th. Truist Financial lifted their target price on eBay from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of eBay in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $62.92.

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.