Optimize Financial Inc Invests $585,000 in eBay Inc. $EBAY

Optimize Financial Inc acquired a new stake in shares of eBay Inc. (NASDAQ:EBAY) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,432 shares of the e-commerce company’s stock, valued at approximately $585,000.

A number of other hedge funds also recently bought and sold shares of the company. Verdence Capital Advisors LLC boosted its stake in shares of eBay by 71.2% during the 2nd quarter. Verdence Capital Advisors LLC now owns 17,447 shares of the e-commerce company’s stock valued at $1,299,000 after purchasing an additional 7,256 shares in the last quarter. GRIMES & Co WEALTH MANAGEMENT LLC bought a new position in eBay in the third quarter worth about $770,000. Teacher Retirement System of Texas lifted its holdings in eBay by 2.0% in the second quarter. Teacher Retirement System of Texas now owns 171,040 shares of the e-commerce company’s stock worth $12,736,000 after buying an additional 3,374 shares during the period. Savant Capital LLC boosted its position in eBay by 19.4% during the 2nd quarter. Savant Capital LLC now owns 24,229 shares of the e-commerce company’s stock valued at $1,804,000 after acquiring an additional 3,933 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in eBay by 30.1% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 181,787 shares of the e-commerce company’s stock valued at $16,534,000 after acquiring an additional 42,048 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.

Insider Activity

In other news, SVP Cornelius Boone sold 4,462 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $83.94, for a total value of $374,540.28. Following the transaction, the senior vice president owned 91,921 shares in the company, valued at approximately $7,715,848.74. This represents a 4.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Mazen Rawashdeh sold 1,920 shares of the stock in a transaction that occurred on 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 approximately $470,597.40. The trade was a 25.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 44,590 shares of company stock valued at $4,000,814 over the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

eBay Price Performance

EBAY opened at $92.38 on Wednesday. The firm has a market cap of $41.76 billion, a PE ratio of 20.08, a P/E/G ratio of 2.18 and a beta of 1.38. The stock has a 50-day moving average price of $87.99 and a 200-day moving average price of $89.30. eBay Inc. has a 1 year low of $58.71 and a 1 year high of $101.15. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.92 and a quick ratio of 0.92.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Piper Sandler decreased their target price on eBay from $102.00 to $98.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Wells Fargo & Company upped their price target on eBay from $96.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 8th. Sanford C. Bernstein set a $90.00 price objective on eBay in a research report on Friday, October 31st. Cantor Fitzgerald boosted their target price on shares of eBay from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. Finally, Wall Street Zen raised shares of eBay from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Fourteen investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, eBay presently has an average rating of “Hold” and a consensus price target of $95.66.

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.