eBay Inc. (NASDAQ:EBAY) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 21,887,047 shares, a growth of 9.5% from the August 15th total of 19,989,248 shares. Currently, 2.2% of the company’s shares are sold short. Based on an average daily trading volume, of 6,827,381 shares, the days-to-cover ratio is presently 3.2 days.
A number of research analysts have commented on EBAY shares. Goldman Sachs Group, Inc. (The) set a $42.00 target price on shares of eBay and gave the company a “buy” rating in a research report on Wednesday, June 28th. Aegis increased their price target on shares of eBay from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Citigroup Inc. reissued a “buy” rating and set a $41.00 price target (up previously from $36.00) on shares of eBay in a research report on Thursday, June 8th. Credit Suisse Group raised shares of eBay from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $34.00 to $44.00 in a research report on Monday, June 5th. Finally, Morgan Stanley set a $29.00 price target on shares of eBay and gave the stock a “sell” rating in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $37.24.
In other eBay news, Director Robert Holmes Swan sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $37.51, for a total value of $937,750.00. Following the transaction, the director now owns 262,119 shares of the company’s stock, valued at $9,832,083.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brian J. Doerger sold 10,450 shares of the company’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $36.56, for a total transaction of $382,052.00. Following the completion of the transaction, the vice president now directly owns 24,001 shares in the company, valued at approximately $877,476.56. The disclosure for this sale can be found here. Insiders sold 95,238 shares of company stock worth $3,439,297 in the last ninety days. 6.78% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in EBAY. Captrust Financial Advisors bought a new position in eBay during the second quarter valued at about $108,000. BB&T Investment Services Inc. bought a new position in eBay during the second quarter valued at about $119,000. Westside Investment Management Inc. boosted its stake in eBay by 284.0% during the first quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock valued at $121,000 after buying an additional 2,638 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in eBay during the second quarter valued at about $123,000. Finally, FNY Partners Fund LP boosted its stake in eBay by 660.0% during the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock valued at $127,000 after buying an additional 3,300 shares in the last quarter. 84.91% of the stock is owned by institutional investors and hedge funds.
Shares of eBay (NASDAQ:EBAY) opened at 38.40 on Friday. eBay has a 12-month low of $27.28 and a 12-month high of $38.87. The firm has a market cap of $41.10 billion, a P/E ratio of 5.76 and a beta of 1.34. The firm has a 50-day moving average price of $36.01 and a 200-day moving average price of $34.77.
eBay (NASDAQ:EBAY) last announced its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. eBay had a return on equity of 17.50% and a net margin of 80.93%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the business posted $0.43 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities research analysts expect that eBay will post $2.00 earnings per share for the current fiscal year.
eBay declared that its Board of Directors has authorized a stock buyback plan on Thursday, July 20th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the e-commerce company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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eBay Company Profile
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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