California State Teachers Retirement System trimmed its holdings in shares of eBay Inc. (NASDAQ:EBAY – Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 741,433 shares of the e-commerce company’s stock after selling 20,128 shares during the period. California State Teachers Retirement System owned 0.17% of eBay worth $67,485,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Cedar Mountain Advisors LLC raised its position in shares of eBay by 128.9% during the 1st quarter. Cedar Mountain Advisors LLC now owns 277 shares of the e-commerce company’s stock worth $25,000 after purchasing an additional 156 shares during the period. High Point Wealth Management LLC bought a new stake in shares of eBay in the 4th quarter worth approximately $26,000. Abound Financial LLC acquired a new position in eBay during the 4th quarter valued at approximately $26,000. Cassaday & Co Wealth Management LLC acquired a new position in eBay during the 1st quarter valued at approximately $26,000. Finally, Jessup Wealth Management Inc bought a new position in eBay during the 4th quarter worth $27,000. 87.48% of the stock is currently owned by institutional investors.
eBay Trading Down 1.5%
Shares of NASDAQ:EBAY opened at $113.52 on Friday. The company has a 50 day moving average of $111.41 and a 200-day moving average of $100.94. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.36. The firm has a market cap of $50.40 billion, a P/E ratio of 25.74, a P/E/G ratio of 2.53 and a beta of 1.37. eBay Inc. has a twelve month low of $78.03 and a twelve month high of $119.31.
More eBay News
Here are the key news stories impacting eBay this week:
- Positive Sentiment: Depop acquisition completed: eBay finalized its purchase of the fashion-resale marketplace from Etsy for approximately $1.4 billion in cash. Depop expands eBay’s presence among younger shoppers and in secondhand fashion, potentially supporting long-term marketplace growth. Etsy Completes Sale of Depop
- Neutral Sentiment: Upcoming earnings in focus: Analysts expect eBay to report year-over-year earnings growth, following the company’s recent quarterly results that exceeded consensus expectations for both earnings and revenue. However, Zacks said eBay lacks the combination of indicators typically associated with a likely earnings beat, creating uncertainty ahead of the report. eBay Reports Next Week
- Negative Sentiment: Nearly $56 million harassment settlement: eBay and several former executives agreed to settle a cyberstalking and harassment lawsuit brought by Massachusetts journalists David and Ina Steiner. The campaign involved disturbing anonymous deliveries and threats, including live insects and a bloody pig mask. Reports cite total settlement payments of about $55.7 million, including approximately $48.7 million in direct compensation. The cash cost, reputational damage and renewed scrutiny of past management conduct are weighing on sentiment. eBay Settlement With Massachusetts Couple
Insider Buying and Selling at eBay
In other news, SVP Jordan Douglas Bradle Sweetnam sold 1,010 shares of eBay stock in a transaction on Monday, May 18th. The stock was sold at an average price of $115.61, for a total transaction of $116,766.10. Following the transaction, the senior vice president directly owned 32,146 shares in the company, valued at approximately $3,716,399.06. This trade represents a 3.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jamie Iannone sold 11,110 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $113.33, for a total value of $1,259,096.30. Following the completion of the sale, the chief executive officer directly owned 275,431 shares in the company, valued at $31,214,595.23. This represents a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 76,012 shares of company stock valued at $8,747,852. 0.67% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Morgan Stanley upped their target price on shares of eBay to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Wall Street Zen upgraded eBay from a “hold” rating to a “buy” rating in a research report on Sunday, April 26th. Jefferies Financial Group increased their price objective on eBay from $65.00 to $75.00 and gave the stock an “underperform” rating in a report on Tuesday, July 14th. Evercore set a $96.00 target price on eBay in a research report on Thursday, April 30th. Finally, Piper Sandler restated an “overweight” rating and issued a $115.00 target price (up from $105.00) on shares of eBay in a research report on Thursday, April 30th. Fourteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $110.52.
Read Our Latest Stock Report on EBAY
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.
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