eBay Inc. (NASDAQ:EBAY) Sees Large Decrease in Short Interest

eBay Inc. (NASDAQ:EBAY) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 19,080,000 shares, a drop of 9.5% from the October 15th total of 21,090,000 shares. Currently, 4.0% of the shares of the company are sold short. Based on an average daily trading volume, of 4,820,000 shares, the short-interest ratio is currently 4.0 days.

Insider Buying and Selling at eBay

In related news, SVP Cornelius Boone sold 3,974 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $256,760.14. Following the sale, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. This trade represents a 5.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen J. Priest sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the transaction, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The trade was a 26.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,016 shares of company stock worth $3,015,417. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On eBay

Institutional investors have recently added to or reduced their stakes in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of eBay in the 2nd quarter valued at about $26,000. Tortoise Investment Management LLC increased its holdings in eBay by 894.2% in the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after buying an additional 465 shares in the last quarter. LRI Investments LLC acquired a new position in eBay during the first quarter worth $29,000. Hobbs Group Advisors LLC purchased a new stake in shares of eBay in the 2nd quarter worth about $29,000. Finally, Gradient Investments LLC lifted its holdings in shares of eBay by 86.3% in the second quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock valued at $33,000 after purchasing an additional 284 shares in the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Stock Down 1.1 %

NASDAQ EBAY traded down $0.70 on Tuesday, hitting $60.71. 278,769 shares of the stock were exchanged, compared to its average volume of 5,387,096. eBay has a fifty-two week low of $38.97 and a fifty-two week high of $67.80. The company has a 50-day moving average price of $63.57 and a 200-day moving average price of $57.64. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The company has a market cap of $29.08 billion, a PE ratio of 15.43, a PEG ratio of 1.60 and a beta of 1.34.

eBay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, November 29th. eBay’s dividend payout ratio is presently 27.14%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EBAY shares. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of eBay in a research note on Monday, October 7th. The Goldman Sachs Group boosted their price objective on eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, October 15th. Wells Fargo & Company lowered their price target on shares of eBay from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Benchmark reaffirmed a “buy” rating and issued a $65.00 target price on shares of eBay in a research note on Tuesday, October 29th. Finally, UBS Group decreased their price objective on eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $62.87.

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.