Gabelli Funds LLC Sells 25,500 Shares of eBay Inc. (NASDAQ:EBAY)

Gabelli Funds LLC trimmed its holdings in shares of eBay Inc. (NASDAQ:EBAY) by 49.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 26,000 shares of the e-commerce company’s stock after selling 25,500 shares during the period. Gabelli Funds LLC’s holdings in eBay were worth $1,372,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Gamco Investors INC. ET AL lifted its holdings in shares of eBay by 2.0% during the first quarter. Gamco Investors INC. ET AL now owns 20,190 shares of the e-commerce company’s stock valued at $1,066,000 after purchasing an additional 400 shares during the last quarter. Rodgers Brothers Inc. lifted its holdings in shares of eBay by 380.3% during the first quarter. Rodgers Brothers Inc. now owns 30,185 shares of the e-commerce company’s stock valued at $1,593,000 after purchasing an additional 23,900 shares during the last quarter. Heron Bay Capital Management lifted its holdings in shares of eBay by 70.7% during the first quarter. Heron Bay Capital Management now owns 104,661 shares of the e-commerce company’s stock valued at $5,524,000 after purchasing an additional 43,342 shares during the last quarter. Freestone Capital Holdings LLC lifted its holdings in shares of eBay by 435.2% during the first quarter. Freestone Capital Holdings LLC now owns 36,431 shares of the e-commerce company’s stock valued at $1,923,000 after purchasing an additional 29,624 shares during the last quarter. Finally, Shell Asset Management Co. lifted its holdings in shares of eBay by 25.0% during the first quarter. Shell Asset Management Co. now owns 31,789 shares of the e-commerce company’s stock valued at $1,678,000 after purchasing an additional 6,351 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EBAY shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of eBay from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Truist Financial boosted their price objective on shares of eBay from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, May 6th. Morgan Stanley boosted their price objective on shares of eBay from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. StockNews.com upgraded shares of eBay from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Finally, Jefferies Financial Group boosted their price objective on shares of eBay from $50.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $53.94.

eBay Stock Performance

NASDAQ:EBAY traded up $1.06 during trading hours on Friday, reaching $54.18. The company had a trading volume of 4,130,189 shares, compared to its average volume of 3,772,745. eBay Inc. has a 52 week low of $37.17 and a 52 week high of $55.69. The firm’s 50 day moving average price is $53.43 and its 200-day moving average price is $49.75. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.98. The firm has a market cap of $27.20 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 2.49 and a beta of 1.31.

eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. eBay had a net margin of 25.97% and a return on equity of 29.11%. The firm had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.53 billion. During the same quarter in the previous year, the firm posted $0.87 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts forecast that eBay Inc. will post 3.73 EPS for the current year.

Insider Activity

In other news, SVP Edward O. Garcia sold 986 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $52.85, for a total transaction of $52,110.10. Following the completion of the sale, the senior vice president now owns 37,126 shares of the company’s stock, valued at approximately $1,962,109.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Rebecca Spencer sold 2,083 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $53.62, for a total transaction of $111,690.46. Following the completion of the sale, the chief accounting officer now owns 4,109 shares of the company’s stock, valued at approximately $220,324.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Edward O. Garcia sold 986 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $52.85, for a total transaction of $52,110.10. Following the completion of the transaction, the senior vice president now directly owns 37,126 shares of the company’s stock, valued at approximately $1,962,109.10. The disclosure for this sale can be found here. Insiders sold a total of 59,558 shares of company stock valued at $3,001,254 in the last 90 days. 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.