Sun Sep 15 12:39:12 UTC 2024: ## State of New Jersey Pension Fund D Cuts eBay Holdings, While Other Investors Buy In

**New York, NY** – The State of New Jersey Common Pension Fund D has decreased its stake in eBay Inc. (NASDAQ:EBAY) by 35.9% during the second quarter, according to HoldingsChannel. The fund now owns 190,237 shares of the e-commerce giant, valued at $10,220,000.

While the New Jersey fund reduced its position, other institutional investors and hedge funds have been increasing their holdings in eBay. Private Advisor Group LLC, Envestnet Portfolio Solutions Inc., Janney Montgomery Scott LLC, and Brown Advisory Inc. all expanded their stakes in the company during the fourth quarter. Additionally, Mizuho Markets Americas LLC acquired a new position in eBay during the same period.

Overall, institutional investors and hedge funds hold 87.48% of eBay’s stock.

In recent eBay news, SVP Edward O. Garcia sold 986 shares of eBay stock for a total of $52,110.10. Following the transaction, Garcia now owns 37,126 shares, valued at approximately $1,962,109.10.

eBay reported its quarterly earnings on July 31st, exceeding analyst estimates with $0.88 EPS and $2.57 billion in revenue. The company also announced a quarterly dividend of $0.27 per share, payable on September 13th.

Several analysts have recently commented on eBay shares. Daiwa America upgraded the stock to “hold,” while Susquehanna lifted their price target to $60.00. Bank of America, Deutsche Bank Aktiengesellschaft, and Cantor Fitzgerald also made positive adjustments to their price targets and ratings. Overall, the consensus rating on eBay is “Hold” with an average target price of $56.90.

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