Assetmark Inc. Sells 67,978 Shares of eBay Inc. $EBAY

Assetmark Inc. cut its stake in eBay Inc. (NASDAQ:EBAY) by 41.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 97,251 shares of the e-commerce company’s stock after selling 67,978 shares during the quarter. Assetmark Inc.’s holdings in eBay were worth $8,845,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Invesco Ltd. raised its holdings in eBay by 1.7% in the second quarter. Invesco Ltd. now owns 8,581,556 shares of the e-commerce company’s stock worth $638,983,000 after purchasing an additional 140,160 shares during the period. Impax Asset Management Group plc increased its position in shares of eBay by 7.8% in the 2nd quarter. Impax Asset Management Group plc now owns 3,810,634 shares of the e-commerce company’s stock valued at $282,838,000 after buying an additional 275,344 shares in the last quarter. ABN AMRO Bank N.V. acquired a new stake in eBay during the 2nd quarter worth $235,149,000. Robeco Institutional Asset Management B.V. lifted its holdings in eBay by 5.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,817,489 shares of the e-commerce company’s stock worth $256,251,000 after acquiring an additional 157,537 shares in the last quarter. Finally, M&G PLC grew its stake in eBay by 88.8% in the second quarter. M&G PLC now owns 2,785,699 shares of the e-commerce company’s stock valued at $206,142,000 after acquiring an additional 1,310,373 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on eBay from $102.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Benchmark upped their price target on shares of eBay from $100.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Arete Research increased their price objective on shares of eBay from $91.00 to $103.00 and gave the stock a “neutral” rating in a research report on Thursday, January 15th. Citigroup reaffirmed a “market outperform” rating on shares of eBay in a research report on Thursday, October 30th. Finally, Barclays increased their target price on eBay from $92.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Fourteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $95.66.

eBay Stock Up 3.7%

NASDAQ:EBAY opened at $82.38 on Tuesday. eBay Inc. has a twelve month low of $58.71 and a twelve month high of $101.15. The firm has a market capitalization of $37.24 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.38. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.06. The stock’s 50 day moving average price is $88.32 and its two-hundred day moving average price is $89.50.

Insider Activity

In other eBay news, SVP Mazen Rawashdeh sold 1,920 shares of the firm’s 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 sale, the senior vice president owned 5,746 shares of the company’s stock, 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 can be accessed through the SEC website. Also, SVP Julie A. Loeger sold 2,896 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $82.44, for a total value of $238,746.24. Following the sale, the senior vice president owned 55,990 shares of the company’s stock, valued at approximately $4,615,815.60. This represents a 4.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 43,584 shares of company stock valued at $3,918,282 over the last quarter. 0.64% of the stock is owned by corporate insiders.

eBay 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.