First Horizon Advisors Inc. Cuts Position in eBay Inc. (NASDAQ:EBAY)

First Horizon Advisors Inc. reduced its stake in shares of eBay Inc. (NASDAQ:EBAY) by 28.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,730 shares of the e-commerce company’s stock after selling 2,237 shares during the period. First Horizon Advisors Inc.’s holdings in eBay were worth $355,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in EBAY. Deseret Mutual Benefit Administrators lifted its stake in shares of eBay by 23.8% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 7,860 shares of the e-commerce company’s stock valued at $487,000 after purchasing an additional 1,512 shares during the period. Allianz Asset Management GmbH grew its position in eBay by 23.2% during the fourth quarter. Allianz Asset Management GmbH now owns 2,460,879 shares of the e-commerce company’s stock worth $152,451,000 after buying an additional 463,015 shares during the period. WP Advisors LLC purchased a new position in eBay in the fourth quarter valued at about $279,000. ING Groep NV acquired a new stake in shares of eBay during the 4th quarter valued at approximately $1,355,000. Finally, O Brien Greene & Co. Inc lifted its position in shares of eBay by 2.1% during the 4th quarter. O Brien Greene & Co. Inc now owns 16,016 shares of the e-commerce company’s stock valued at $992,000 after acquiring an additional 334 shares during the period. 87.48% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at eBay

In related news, CFO Stephen J. Priest sold 5,252 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were 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 approximately $4,141,040.40. This trade represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $62.38, for a total transaction of $350,887.50. Following the transaction, the chief executive officer now directly owns 542,248 shares of the company’s stock, valued at $33,825,430.24. This trade represents a 1.03 % 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 in the last 90 days. 0.38% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EBAY shares. Morgan Stanley upped their price target on eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. UBS Group upped their target price on eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a report on Monday. Robert W. Baird cut their price target on eBay from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Wedbush assumed coverage on shares of eBay in a research note on Monday, December 9th. They issued a “neutral” rating and a $70.00 price objective on the stock. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of eBay in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, eBay presently has an average rating of “Hold” and a consensus price target of $63.38.

eBay Price Performance

Shares of NASDAQ:EBAY opened at $70.93 on Wednesday. The business has a fifty day simple moving average of $66.14 and a 200-day simple moving average of $63.63. eBay Inc. has a 52 week low of $43.67 and a 52 week high of $71.52. The company has a market cap of $33.98 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.22 and a beta of 1.35. 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 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.