Allspring Global Investments Holdings LLC Purchases 312,644 Shares of eBay Inc. (NASDAQ:EBAY)

Allspring Global Investments Holdings LLC increased its position in shares of eBay Inc. (NASDAQ:EBAY) by 174.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 491,981 shares of the e-commerce company’s stock after purchasing an additional 312,644 shares during the period. Allspring Global Investments Holdings LLC owned about 0.10% of eBay worth $30,636,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Essex Financial Services Inc. increased its position in shares of eBay by 27.2% during the fourth quarter. Essex Financial Services Inc. now owns 4,177 shares of the e-commerce company’s stock valued at $259,000 after purchasing an additional 894 shares during the period. Savant Capital LLC increased its position in shares of eBay by 5.4% during the fourth quarter. Savant Capital LLC now owns 18,341 shares of the e-commerce company’s stock valued at $1,136,000 after purchasing an additional 938 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in shares of eBay during the fourth quarter valued at approximately $130,000. Stephens Inc. AR increased its position in shares of eBay by 0.5% during the fourth quarter. Stephens Inc. AR now owns 91,858 shares of the e-commerce company’s stock valued at $5,691,000 after purchasing an additional 434 shares during the period. Finally, Thompson Investment Management Inc. grew its position in eBay by 1.4% in the fourth quarter. Thompson Investment Management Inc. now owns 149,958 shares of the e-commerce company’s stock valued at $9,290,000 after acquiring an additional 2,026 shares during the period. 87.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling at eBay

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction dated Monday, February 3rd. The stock was 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 directly owns 530,998 shares in the company, valued at $35,709,615.50. This represents a 1.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen J. Priest sold 5,252 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $63.63, for a total value of $334,184.76. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,149 shares of company stock valued at $1,746,065. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on EBAY. Piper Sandler upped their price target on eBay from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. JMP Securities restated a “market perform” rating on shares of eBay in a report on Monday, December 16th. UBS Group decreased their target price on eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Bank of America decreased their target price on eBay from $67.00 to $64.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Sanford C. Bernstein upgraded eBay from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $63.13.

eBay Trading Up 0.9 %

NASDAQ:EBAY opened at $69.90 on Friday. eBay Inc. has a 1-year low of $42.14 and a 1-year high of $71.52. The business’s 50-day moving average price is $65.18 and its two-hundred day moving average price is $62.73. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $33.48 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.15 and a beta of 1.35.

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.