Allspring Global Investments Holdings LLC Raises Stock Position in eBay Inc. (NASDAQ:EBAY)

Allspring Global Investments Holdings LLC increased its stake in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 174.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 491,981 shares of the e-commerce company's stock after acquiring an additional 312,644 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.10% of eBay worth $30,636,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of EBAY. Wellington Management Group LLP bought a new position in eBay during the third quarter worth $105,506,000. International Assets Investment Management LLC boosted its stake in eBay by 9,092.5% during the third quarter. International Assets Investment Management LLC now owns 585,013 shares of the e-commerce company's stock worth $38,090,000 after acquiring an additional 578,649 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in eBay by 599.3% during the third quarter. Janney Montgomery Scott LLC now owns 538,744 shares of the e-commerce company's stock worth $35,078,000 after buying an additional 461,708 shares during the last quarter. Lord Abbett & CO. LLC acquired a new position in eBay during the third quarter worth $25,132,000. Finally, Nordea Investment Management AB raised its holdings in eBay by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 9,151,026 shares of the e-commerce company's stock worth $573,220,000 after buying an additional 335,035 shares during the last quarter. 87.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on EBAY shares. Citigroup upped their price objective on shares of eBay from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Friday. Morgan Stanley upped their price objective on shares of eBay from $70.00 to $72.00 and gave the stock an "overweight" rating in a report on Monday, January 13th. Needham & Company LLC restated a "buy" rating and set a $72.00 price objective on shares of eBay in a report on Thursday, October 31st. Bank of America lowered their price objective on shares of eBay from $67.00 to $64.00 and set a "neutral" rating on the stock in a report on Thursday, October 31st. Finally, Stifel Nicolaus upped their price objective on shares of eBay from $56.00 to $64.00 and gave the stock a "hold" rating in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $63.13.

Insider Transactions at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $67.25, for a total value of $378,281.25. Following the completion of the transaction, the chief executive officer now owns 530,998 shares in the company, valued at $35,709,615.50. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $67,072.69. Following the completion of the transaction, the chief financial officer now owns 65,080 shares of the company's stock, valued at $4,225,644.40. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,149 shares of company stock worth $1,746,065 over the last quarter. Corporate insiders own 0.38% of the company's stock.

eBay Stock Performance

Shares of EBAY traded down $0.44 during trading hours on Tuesday, hitting $69.46. The company's stock had a trading volume of 1,474,529 shares, compared to its average volume of 4,342,269. The company has a market cap of $33.27 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.15 and a beta of 1.35. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The business has a 50 day simple moving average of $65.40 and a two-hundred day simple moving average of $63.03. eBay Inc. has a 52-week low of $42.97 and a 52-week high of $71.52.

eBay Company Profile

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.