Illinois Municipal Retirement Fund Reduces Position in eBay Inc. $EBAY

Illinois Municipal Retirement Fund lessened its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 7.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 324,656 shares of the e-commerce company’s stock after selling 26,389 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in eBay were worth $29,527,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. ABN AMRO Bank N.V. purchased a new stake in shares of eBay during the 2nd quarter valued at approximately $235,149,000. Arrowstreet Capital Limited Partnership raised its holdings in eBay by 1,007.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,189,868 shares of the e-commerce company’s stock valued at $163,058,000 after acquiring an additional 1,992,116 shares during the period. M&G PLC lifted its position in shares of eBay by 88.8% during the second quarter. M&G PLC now owns 2,785,699 shares of the e-commerce company’s stock worth $206,142,000 after acquiring an additional 1,310,373 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of eBay in the second quarter worth $62,986,000. Finally, Panagora Asset Management Inc. boosted its holdings in shares of eBay by 1,416.4% in the second quarter. Panagora Asset Management Inc. now owns 831,976 shares of the e-commerce company’s stock worth $61,949,000 after acquiring an additional 777,109 shares during the period. Institutional investors own 87.48% of the company’s stock.

Insider Transactions at eBay

In related news, SVP Jordan Douglas Bradle Sweetnam sold 33,441 shares of the firm’s stock in a transaction dated Friday, January 30th. The stock was 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. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Cornelius Boone sold 4,462 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $83.94, for a total value of $374,540.28. Following the completion of the sale, the senior vice president owned 91,921 shares of the company’s stock, valued at $7,715,848.74. The trade was a 4.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 44,590 shares of company stock worth $4,000,814 in the last three months. Insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on EBAY shares. TD Cowen reissued a “hold” rating on shares of eBay in a report on Monday, October 20th. Wells Fargo & Company upped their price target on eBay from $96.00 to $98.00 and gave the company an “equal weight” rating in a research report on Thursday, January 8th. Wedbush raised their price objective on shares of eBay from $90.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Sanford C. Bernstein set a $90.00 price objective on shares of eBay in a research note on Friday, October 31st. Finally, Stifel Nicolaus lowered their target price on shares of eBay from $89.00 to $88.00 in a research note 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $95.66.

eBay Price Performance

EBAY stock opened at $82.88 on Thursday. The firm has a 50 day simple moving average of $88.41 and a two-hundred day simple moving average of $89.45. The stock has a market cap of $37.46 billion, a PE ratio of 18.02, a P/E/G ratio of 2.04 and a beta of 1.38. eBay Inc. has a one year low of $58.71 and a one 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.

About eBay

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.