eBay Inc. (NASDAQ:EBAY) Stake Trimmed by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI cut its position in shares of eBay Inc. (NASDAQ:EBAY) by 8.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,257 shares of the e-commerce company’s stock after selling 1,833 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in eBay were worth $1,255,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in EBAY. Quarry LP purchased a new stake in shares of eBay in the 3rd quarter valued at approximately $36,000. USA Financial Formulas acquired a new stake in eBay during the 3rd quarter valued at $38,000. Northwest Investment Counselors LLC purchased a new stake in shares of eBay in the third quarter valued at $50,000. Versant Capital Management Inc lifted its holdings in shares of eBay by 115.5% in the fourth quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock valued at $52,000 after purchasing an additional 448 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its position in shares of eBay by 276.0% in the third quarter. Financial Management Professionals Inc. now owns 846 shares of the e-commerce company’s stock worth $55,000 after buying an additional 621 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on EBAY. Robert W. Baird reduced their price objective on eBay from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group increased their price target on shares of eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, October 15th. Barclays lowered their price objective on shares of eBay from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Wedbush started coverage on shares of eBay in a research report on Monday, December 9th. They issued a “neutral” rating and a $70.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.83.

Insider Transactions at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $59.91, for a total transaction of $336,993.75. Following the completion of the transaction, the chief executive officer now owns 548,042 shares of the company’s stock, valued at approximately $32,833,196.22. This represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen J. Priest sold 1,033 shares of eBay stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $64.93, for a total value of $67,072.69. Following the sale, 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 disclosure for this sale can be found here. Insiders sold a total of 27,149 shares of company stock worth $1,704,778 over the last three months. 0.38% of the stock is currently owned by insiders.

eBay Price Performance

Shares of NASDAQ:EBAY opened at $66.84 on Tuesday. The company has a market cap of $32.02 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 2.02 and a beta of 1.35. The business has a 50 day moving average price of $63.92 and a 200 day moving average price of $61.51. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. eBay Inc. has a twelve month low of $40.74 and a twelve month high of $71.52.

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.