Van ECK Associates Corp Grows Stock Position in eBay Inc. (NASDAQ:EBAY)

Van ECK Associates Corp lifted its stake in eBay Inc. (NASDAQ:EBAY) by 5,091.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,051 shares of the e-commerce company’s stock after buying an additional 139,315 shares during the quarter. Van ECK Associates Corp’s holdings in eBay were worth $8,800,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EBAY. Allspring Global Investments Holdings LLC grew its stake in shares of eBay by 174.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 491,981 shares of the e-commerce company’s stock worth $30,636,000 after purchasing an additional 312,644 shares during the period. Essex Financial Services Inc. boosted its holdings in eBay by 27.2% during the fourth quarter. Essex Financial Services Inc. now owns 4,177 shares of the e-commerce company’s stock worth $259,000 after buying an additional 894 shares in the last quarter. Savant Capital LLC grew its position in eBay by 5.4% during the fourth quarter. Savant Capital LLC now owns 18,341 shares of the e-commerce company’s stock valued at $1,136,000 after buying an additional 938 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in eBay in the fourth quarter valued at $130,000. Finally, Stephens Inc. AR raised its position in shares of eBay by 0.5% in the fourth quarter. Stephens Inc. AR now owns 91,858 shares of the e-commerce company’s stock worth $5,691,000 after acquiring an additional 434 shares during the period. 87.48% of the stock is owned by institutional investors and hedge funds.

eBay Stock Performance

eBay stock opened at $69.90 on Monday. The firm has a 50 day simple moving average of $65.30 and a 200-day simple moving average of $62.88. The stock has a market cap of $33.48 billion, a price-to-earnings ratio of 17.56, a price-to-earnings-growth 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. eBay Inc. has a 1-year low of $42.14 and a 1-year high of $71.52.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EBAY shares. Truist Financial raised their target price on eBay from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Robert W. Baird cut their price objective on eBay from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $65.00 target price on shares of eBay in a research report on Tuesday, October 29th. Wedbush initiated coverage on shares of eBay in a report on Monday, December 9th. They issued a “neutral” rating and a $70.00 price target for the company. Finally, TD Cowen upped their price objective on shares of eBay from $45.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the 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 Buying and Selling

In other news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $63.21, for a total value of $355,556.25. Following the transaction, the chief executive officer now owns 531,167 shares of the company’s stock, valued at $33,575,066.07. This represents a 1.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen J. Priest sold 5,252 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $63.63, for a total value of $334,184.76. Following the sale, the chief financial officer now directly owns 65,080 shares of the company’s stock, valued at $4,141,040.40. The trade was a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,149 shares of company stock worth $1,746,065. Company insiders own 0.38% of the company’s stock.

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.