eBay (NASDAQ:EBAY) Shares Gap Up – Here’s Why

Shares of eBay Inc. (NASDAQ:EBAY) gapped up prior to trading on Tuesday . The stock had previously closed at $63.64, but opened at $65.20. eBay shares last traded at $63.91, with a volume of 380,050 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of eBay in a report on Thursday, October 31st. Barclays decreased their target price on eBay from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Bank of America cut their price target on shares of eBay from $67.00 to $64.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. UBS Group dropped their target price on shares of eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their target price on shares of eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $62.63.

eBay Stock Up 1.0 %

The business has a 50-day moving average of $63.31 and a 200-day moving average of $59.27. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $30.79 billion, a price-to-earnings ratio of 15.99, a P/E/G ratio of 2.20 and a beta of 1.35.

eBay Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.27 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.68%. eBay’s dividend payout ratio is currently 27.14%.

Insider Buying and Selling

In other news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $66.56, for a total transaction of $374,400.00. Following the sale, the chief executive officer now owns 553,666 shares of the company’s stock, valued at approximately $36,852,008.96. This represents a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen J. Priest sold 1,167 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total transaction of $77,757.21. Following the sale, the chief financial officer now directly owns 65,079 shares in the company, valued at approximately $4,336,213.77. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,667 shares of company stock valued at $1,516,463. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

Institutional investors have recently modified their holdings of the business. Tortoise Investment Management LLC grew its stake in eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 465 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in eBay in the second quarter valued at approximately $29,000. Quarry LP purchased a new position in eBay in the third quarter worth approximately $36,000. USA Financial Formulas acquired a new position in eBay during the 3rd quarter worth approximately $38,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of eBay in the 3rd quarter valued at approximately $50,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

About eBay

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.