Impax Asset Management Group plc Sells 997,633 Shares of eBay Inc. $EBAY

Impax Asset Management Group plc decreased its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 26.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,813,001 shares of the e-commerce company’s stock after selling 997,633 shares during the quarter. eBay makes up about 1.5% of Impax Asset Management Group plc’s portfolio, making the stock its 17th largest position. Impax Asset Management Group plc’s holdings in eBay were worth $255,842,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Princeton Global Asset Management LLC lifted its holdings in shares of eBay by 433.9% in the second quarter. Princeton Global Asset Management LLC now owns 331 shares of the e-commerce company’s stock valued at $25,000 after purchasing an additional 269 shares in the last quarter. Financial Consulate Inc. acquired a new stake in eBay in the third quarter valued at $27,000. Steigerwald Gordon & Koch Inc. bought a new position in eBay during the third quarter worth about $28,000. Sumitomo Mitsui Financial Group Inc. raised its stake in eBay by 155.3% in the second quarter. Sumitomo Mitsui Financial Group Inc. now owns 411 shares of the e-commerce company’s stock valued at $30,000 after buying an additional 250 shares during the period. Finally, Salomon & Ludwin LLC acquired a new stake in shares of eBay in the third quarter valued at approximately $32,000. Institutional investors own 87.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. The Goldman Sachs Group cut their price target on eBay from $78.00 to $77.00 and set a “sell” rating for the company in a report on Wednesday, January 14th. Arete Research raised their target price on shares of eBay from $91.00 to $103.00 and gave the stock a “neutral” rating in a research note on Thursday, January 15th. Citizens Jmp reiterated a “market outperform” rating and issued a $115.00 price target on shares of eBay in a research note on Wednesday, January 28th. Morgan Stanley boosted their price objective on eBay from $102.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, January 13th. Finally, Truist Financial increased their target price on eBay from $86.00 to $92.00 and gave the stock a “hold” rating in a research note on Monday, November 3rd. Fourteen research analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $95.66.

eBay Stock Performance

Shares of eBay stock opened at $87.48 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.06. The company has a market cap of $39.54 billion, a PE ratio of 19.02, a price-to-earnings-growth ratio of 2.03 and a beta of 1.38. The company has a 50 day moving average of $88.39 and a 200-day moving average of $89.50. eBay Inc. has a 1-year low of $58.71 and a 1-year high of $101.15.

Insiders Place Their Bets

In other news, SVP Mazen Rawashdeh sold 1,920 shares of eBay stock in a transaction 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 transaction, the senior vice president owned 5,746 shares in the company, valued at approximately $470,597.40. This trade represents a 25.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jordan Douglas Bradle Sweetnam sold 33,441 shares of the company’s stock in a transaction on Friday, January 30th. The stock was sold at an average price of $91.99, for a total value of $3,076,237.59. Following the sale, the senior vice president 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 44,590 shares of company stock worth $4,000,814. 0.64% of the stock is owned by company insiders.

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.