Palouse Capital Management Inc. Decreases Stock Position in eBay Inc. (NASDAQ:EBAY)

Palouse Capital Management Inc. lessened its position in eBay Inc. (NASDAQ:EBAY) by 62.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,679 shares of the e-commerce company’s stock after selling 17,392 shares during the quarter. Palouse Capital Management Inc.’s holdings in eBay were worth $662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EBAY. Wealth Group Ltd. purchased a new position in shares of eBay in the third quarter valued at approximately $543,000. Exchange Traded Concepts LLC lifted its position in shares of eBay by 3,496.6% in the third quarter. Exchange Traded Concepts LLC now owns 4,244 shares of the e-commerce company’s stock valued at $276,000 after acquiring an additional 4,126 shares in the last quarter. Creative Planning lifted its position in shares of eBay by 5.4% in the third quarter. Creative Planning now owns 65,816 shares of the e-commerce company’s stock valued at $4,285,000 after acquiring an additional 3,401 shares in the last quarter. Bleakley Financial Group LLC lifted its position in shares of eBay by 2.5% in the third quarter. Bleakley Financial Group LLC now owns 48,145 shares of the e-commerce company’s stock valued at $3,135,000 after acquiring an additional 1,159 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of eBay by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,494 shares of the e-commerce company’s stock valued at $3,418,000 after acquiring an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

Analyst Upgrades and Downgrades

EBAY has been the subject of several recent research reports. Robert W. Baird cut their price target on eBay from $70.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. 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. Bank of America cut their price target on eBay from $67.00 to $64.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. JPMorgan Chase & Co. cut their price target on eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, Piper Sandler increased their price target on eBay from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, eBay has a consensus rating of “Hold” and an average target price of $63.13.

eBay Trading Up 0.9 %

Shares of NASDAQ EBAY opened at $69.90 on Friday. eBay Inc. has a twelve month low of $42.14 and a twelve month high of $71.52. 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 stock has a fifty day simple moving average of $65.30 and a 200-day simple moving average of $62.83. The stock has a market capitalization of $33.48 billion, a PE ratio of 17.56, a PEG ratio of 2.15 and a beta of 1.35.

Insider Activity at eBay

In related news, CFO Stephen J. Priest sold 1,033 shares of eBay stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $64.93, for a total value of $67,072.69. Following the completion of the transaction, the chief financial officer now directly owns 65,080 shares in the company, valued at approximately $4,225,644.40. This trade represents a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $67.25, for a total value of $378,281.25. Following the completion of the transaction, the chief executive officer now owns 530,998 shares of the company’s stock, valued at approximately $35,709,615.50. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,149 shares of company stock worth $1,746,065. Company insiders own 0.38% of the company’s stock.

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.