Impax Asset Management Group plc Lowers Position in eBay Inc. $EBAY

Impax Asset Management Group plc reduced its position in shares of eBay Inc. (NASDAQ:EBAY) by 26.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,813,001 shares of the e-commerce company’s stock after selling 997,633 shares during the quarter. eBay comprises approximately 1.5% of Impax Asset Management Group plc’s holdings, making the stock its 17th largest holding. Impax Asset Management Group plc owned 0.62% of eBay worth $255,842,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Verdence Capital Advisors LLC lifted its position in eBay by 71.2% in the second quarter. Verdence Capital Advisors LLC now owns 17,447 shares of the e-commerce company’s stock valued at $1,299,000 after buying an additional 7,256 shares during the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC purchased a new stake in shares of eBay in the 3rd quarter valued at $770,000. Teacher Retirement System of Texas boosted its holdings in eBay by 2.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 171,040 shares of the e-commerce company’s stock valued at $12,736,000 after acquiring an additional 3,374 shares during the period. Allianz Asset Management GmbH grew its position in eBay by 10.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,459,405 shares of the e-commerce company’s stock valued at $223,683,000 after acquiring an additional 242,168 shares in the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of eBay by 407.8% during the third quarter. Independent Advisor Alliance now owns 26,469 shares of the e-commerce company’s stock worth $2,407,000 after purchasing an additional 21,257 shares in the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EBAY has been the topic of a number of research reports. BMO Capital Markets raised their target price on shares of eBay from $102.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Wells Fargo & Company increased their price objective on eBay from $96.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 8th. Wedbush upped their price target on eBay from $90.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Cantor Fitzgerald upped their price objective on shares of eBay from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Stifel Nicolaus reduced their target price on shares of eBay from $89.00 to $88.00 in a research note on Thursday, October 30th. Fourteen analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.66.

eBay Price Performance

Shares of NASDAQ:EBAY opened at $87.48 on Wednesday. The business’s fifty day moving average price is $88.39 and its two-hundred day moving average price is $89.50. eBay Inc. has a one year low of $58.71 and a one year high of $101.15. The stock 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 debt-to-equity ratio of 1.06, a quick ratio of 0.92 and a current ratio of 0.92.

Insider Activity at eBay

In related news, SVP Mazen Rawashdeh sold 1,920 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $81.90, for a total transaction of $157,248.00. Following the sale, the senior vice president owned 5,746 shares in the company, valued at $470,597.40. This represents a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jordan Douglas Bradle Sweetnam sold 33,441 shares of the business’s stock in a transaction on Friday, January 30th. The shares were sold at an average price of $91.99, for a total transaction of $3,076,237.59. Following the transaction, the senior vice president directly owned 4,733 shares of the company’s stock, valued at approximately $435,388.67. This trade represents a 87.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 44,590 shares of company stock valued at $4,000,814 over the last quarter. 0.64% of the stock is currently owned by corporate insiders.

eBay Company Profile

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.