eBay Inc (NASDAQ:EBAY) was the target of a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 19,404,100 shares, a decline of 13.3% from the May 30th total of 22,385,100 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 8,920,000 shares, the days-to-cover ratio is currently 2.2 days.
In other news, SVP Kristin A. Yetto sold 27,512 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $38.34, for a total value of $1,054,810.08. Following the completion of the sale, the senior vice president now directly owns 98,856 shares in the company, valued at approximately $3,790,139.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Scott F. Schenkel sold 89,707 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $38.50, for a total transaction of $3,453,719.50. Following the completion of the sale, the chief financial officer now owns 273,283 shares of the company’s stock, valued at $10,521,395.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,199 shares of company stock valued at $7,176,017. 6.22% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the business. Wealth Architects LLC grew its position in shares of eBay by 63.5% in the 2nd quarter. Wealth Architects LLC now owns 17,196 shares of the e-commerce company’s stock worth $679,000 after buying an additional 6,678 shares during the period. Xact Kapitalforvaltning AB grew its position in shares of eBay by 1.6% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 198,605 shares of the e-commerce company’s stock worth $7,845,000 after buying an additional 3,107 shares during the period. Gofen & Glossberg LLC IL purchased a new stake in shares of eBay in the 2nd quarter worth about $201,000. Joel Isaacson & Co. LLC grew its position in shares of eBay by 42.9% in the 2nd quarter. Joel Isaacson & Co. LLC now owns 21,973 shares of the e-commerce company’s stock worth $868,000 after buying an additional 6,598 shares during the period. Finally, Campbell & CO Investment Adviser LLC grew its position in shares of eBay by 23.6% in the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 11,000 shares of the e-commerce company’s stock worth $435,000 after buying an additional 2,101 shares during the period. 86.28% of the stock is currently owned by institutional investors and hedge funds.
eBay stock traded up $0.46 during mid-day trading on Friday, reaching $40.06. 5,188,454 shares of the company traded hands, compared to its average volume of 7,591,579. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.48 and a quick ratio of 1.48. The stock’s 50 day moving average price is $38.45. The stock has a market capitalization of $34.91 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.95 and a beta of 1.35. eBay has a 52-week low of $26.01 and a 52-week high of $40.55.
eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Tuesday, April 23rd. The e-commerce company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.04. The business had revenue of $2.64 billion for the quarter, compared to the consensus estimate of $2.58 billion. eBay had a net margin of 24.43% and a return on equity of 31.26%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 EPS. As a group, analysts anticipate that eBay will post 2.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Saturday, June 1st were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, May 30th. eBay’s payout ratio is currently 24.14%.
A number of equities research analysts have recently weighed in on the stock. Piper Jaffray Companies lowered shares of Kraft Heinz from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $35.00 to $31.00 in a report on Wednesday, April 24th. Benchmark restated a “buy” rating and issued a $105.00 price objective (up from $90.00) on shares of New Oriental Education & Tech Grp in a report on Wednesday, April 24th. Morgan Stanley boosted their price objective on shares of Canadian Pacific Railway from C$272.00 to C$277.00 in a report on Wednesday, April 24th. JPMorgan Chase & Co. lowered their price objective on shares of Teck Resources from C$56.00 to C$55.00 in a report on Wednesday, April 24th. Finally, UBS Group boosted their price objective on shares of W. R. Berkley from $53.00 to $56.00 and gave the stock a “sell” rating in a report on Wednesday, April 24th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $39.98.
eBay Inc operates commerce platforms connecting various buyers and sellers worldwide. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay suite of mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.
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