eBay Inc. (EBAY) Hits New 1-Year High at $38.44
eBay Inc. (NASDAQ:EBAY) shares hit a new 52-week high on Wednesday . The stock traded as high as $38.44 and last traded at $38.43, with a volume of 2,043,716 shares. The stock had previously closed at $38.18.
Several research firms have commented on EBAY. J P Morgan Chase & Co set a $38.00 price objective on shares of eBay and gave the company a “neutral” rating in a report on Friday, July 21st. BMO Capital Markets reissued a “market perform” rating and set a $36.00 price objective on shares of eBay in a report on Saturday, July 22nd. Canaccord Genuity reissued a “hold” rating and set a $34.00 price objective on shares of eBay in a report on Wednesday, September 6th. Robert W. Baird reissued an “outperform” rating and set a $38.00 price objective on shares of eBay in a report on Monday, June 12th. Finally, Vetr raised shares of eBay from a “hold” rating to a “buy” rating and set a $37.30 price objective for the company in a report on Monday, June 12th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and seventeen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $37.05.
The firm’s 50 day moving average is $35.86 and its 200 day moving average is $34.69. The stock has a market capitalization of $41.03 billion, a P/E ratio of 5.75 and a beta of 1.34.
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, hitting the consensus estimate of $0.45. eBay had a net margin of 80.93% and a return on equity of 17.50%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the firm earned $0.43 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts anticipate that eBay Inc. will post $2.00 EPS for the current year.
eBay announced that its Board of Directors has approved a share buyback plan on Thursday, July 20th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the e-commerce company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
In other eBay news, Director Robert Holmes Swan sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $37.51, for a total value of $937,750.00. Following the sale, the director now directly owns 262,119 shares of the company’s stock, valued at approximately $9,832,083.69. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Brian J. Doerger sold 10,450 shares of the stock in a transaction that occurred on 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 sale, the vice president now directly owns 24,001 shares in the company, valued at $877,476.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,238 shares of company stock worth $3,439,297. Insiders own 6.78% of the company’s stock.
Large investors have recently made changes to their positions in the business. UBS Asset Management Americas Inc. increased its position in shares of eBay by 27.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 3,813,013 shares of the e-commerce company’s stock valued at $128,003,000 after purchasing an additional 829,988 shares during the last quarter. Synovus Financial Corp increased its position in shares of eBay by 164.4% in the 2nd quarter. Synovus Financial Corp now owns 59,888 shares of the e-commerce company’s stock valued at $2,091,000 after purchasing an additional 37,237 shares during the last quarter. ZWJ Investment Counsel Inc. increased its position in shares of eBay by 7.7% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 12,066 shares of the e-commerce company’s stock valued at $421,000 after purchasing an additional 858 shares during the last quarter. Menta Capital LLC purchased a new stake in shares of eBay in the 1st quarter valued at approximately $363,000. Finally, Dupont Capital Management Corp purchased a new stake in shares of eBay in the 2nd quarter valued at approximately $167,000. 84.91% of the stock is currently owned by institutional investors.
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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