Short Interest in eBay Inc. (EBAY) Expands By 12.7%
eBay Inc. (NASDAQ:EBAY) was the recipient of a large growth in short interest in October. As of October 31st, there was short interest totalling 20,688,433 shares, a growth of 12.7% from the October 14th total of 18,351,540 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily volume of 17,401,320 shares, the short-interest ratio is currently 1.2 days.
In related news, SVP Raymond J. Pittman sold 39,030 shares of the firm’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $32.14, for a total value of $1,254,424.20. Following the completion of the transaction, the senior vice president now directly owns 32,738 shares of the company’s stock, valued at approximately $1,052,199.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Holmes Swan sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $31.95, for a total value of $1,597,500.00. Following the completion of the transaction, the director now directly owns 375,928 shares of the company’s stock, valued at $12,010,899.60. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in EBAY. FMR LLC boosted its position in shares of eBay by 183.0% in the second quarter. FMR LLC now owns 21,402,518 shares of the e-commerce company’s stock worth $501,033,000 after buying an additional 13,838,953 shares during the last quarter. M&T Bank Corp boosted its position in shares of eBay by 385.5% in the third quarter. M&T Bank Corp now owns 8,824,578 shares of the e-commerce company’s stock worth $290,330,000 after buying an additional 7,006,789 shares in the last quarter. Magellan Asset Management Ltd boosted its position in shares of eBay by 16.1% in the second quarter. Magellan Asset Management Ltd now owns 42,152,135 shares of the e-commerce company’s stock worth $986,781,000 after buying an additional 5,833,160 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of eBay during the third quarter worth $164,893,000. Finally, Eaton Vance Management boosted its position in shares of eBay by 279.0% in the second quarter. Eaton Vance Management now owns 5,687,842 shares of the e-commerce company’s stock worth $133,152,000 after buying an additional 4,187,045 shares in the last quarter. 82.62% of the stock is currently owned by hedge funds and other institutional investors.
EBAY has been the subject of several research analyst reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of eBay in a research note on Wednesday, October 26th. Deutsche Bank AG reissued a “buy” rating and set a $40.00 price target on shares of eBay in a research report on Wednesday, October 12th. Argus reissued a “buy” rating and set a $36.00 price target on shares of eBay in a research report on Tuesday, July 26th. Goldman Sachs Group Inc. set a $34.00 price target on eBay and gave the stock a “buy” rating in a research report on Thursday, July 21st. Finally, Pacific Crest downgraded eBay to a “sell” rating in a research report on Saturday, October 1st. Four research analysts have rated the stock with a sell rating, twenty have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. eBay presently has an average rating of “Hold” and a consensus target price of $34.40.
Shares of eBay (NASDAQ:EBAY) opened at 28.49 on Wednesday. The company has a market capitalization of $31.85 billion, a PE ratio of 18.30 and a beta of 1.33. eBay has a one year low of $21.51 and a one year high of $33.19. The company has a 50-day moving average of $30.16 and a 200-day moving average of $28.18.
eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Wednesday, October 19th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. eBay had a net margin of 20.29% and a return on equity of 28.67%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period last year, the firm earned $0.43 earnings per share. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, analysts anticipate that eBay will post $1.88 earnings per share for the current year.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company helps in enabling commerce on its platforms for buyers and sellers online. The Company has an open source platform that provides software developers and merchants an access to its application programming interfaces for developing software and solutions for commerce.
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