New York State Teachers Retirement System Cuts Stock Position in eBay Inc. (NASDAQ:EBAY)

New York State Teachers Retirement System lowered its position in shares of eBay Inc. (NASDAQ:EBAY - Free Report) by 11.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 389,784 shares of the e-commerce company's stock after selling 52,417 shares during the period. New York State Teachers Retirement System owned about 0.08% of eBay worth $24,147,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in EBAY. Wellington Management Group LLP purchased a new position in shares of eBay during the third quarter valued at $105,506,000. International Assets Investment Management LLC boosted its position 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 valued at $38,090,000 after purchasing an additional 578,649 shares in the last quarter. Janney Montgomery Scott LLC boosted its position 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 valued at $35,078,000 after purchasing an additional 461,708 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in eBay during the third quarter valued at about $25,132,000. Finally, Nordea Investment Management AB boosted its position 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 valued at $573,220,000 after purchasing an additional 335,035 shares in the last quarter. Hedge funds and other institutional investors own 87.48% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EBAY. Barclays dropped their price objective on eBay from $65.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. Mizuho raised their price objective on eBay from $55.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, November 5th. Truist Financial raised their price objective on eBay from $58.00 to $62.00 and gave the company a "hold" rating in a research report on Tuesday, November 5th. Wells Fargo & Company raised their price target on eBay from $59.00 to $61.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Finally, Benchmark reissued a "buy" rating and issued a $65.00 price target on shares of eBay in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $63.13.

Insider Activity at eBay

In other news, CFO Stephen J. Priest sold 5,252 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $63.63, for a total value of $334,184.76. Following the completion of the sale, the chief financial officer now directly owns 65,080 shares in the company, valued at $4,141,040.40. The trade was a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jamie Iannone sold 5,625 shares of the business's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $63.21, for a total value of $355,556.25. Following the completion of the sale, the chief executive officer now owns 531,167 shares of the company's stock, valued at $33,575,066.07. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,149 shares of company stock worth $1,746,065. 0.38% of the stock is owned by corporate insiders.

eBay Stock Performance

EBAY stock traded down $0.46 during trading on Wednesday, hitting $69.33. 3,436,852 shares of the company traded hands, compared to its average volume of 4,389,917. The stock's 50-day simple moving average is $65.53 and its 200 day simple moving average is $63.13. 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 company has a market cap of $33.21 billion, a PE ratio of 17.42, a P/E/G ratio of 2.23 and a beta of 1.35. eBay Inc. has a 1 year low of $42.97 and a 1 year high of $71.52.

eBay 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.