eBay Inc. (NASDAQ:EBAY) Short Interest Up 30.7% in March

eBay Inc. (NASDAQ:EBAY) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 22,950,000 shares, an increase of 30.7% from the February 28th total of 17,560,000 shares. Currently, 4.9% of the company’s stock are short sold. Based on an average daily volume of 5,200,000 shares, the days-to-cover ratio is presently 4.4 days.

eBay Price Performance

EBAY traded down $0.09 during trading hours on Tuesday, hitting $67.64. The company’s stock had a trading volume of 242,733 shares, compared to its average volume of 4,841,348. The stock has a market cap of $31.52 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.22 and a beta of 1.45. The business’s 50-day moving average price is $67.14 and its 200-day moving average price is $64.99. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. eBay has a 12 month low of $48.52 and a 12 month high of $71.61.

eBay Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.29 per share. This is a boost from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, March 14th. eBay’s payout ratio is presently 29.07%.

Insider Activity

In related news, SVP Cornelius Boone sold 3,958 shares of the stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total value of $265,423.48. Following the sale, the senior vice president now owns 94,392 shares in the company, valued at approximately $6,329,927.52. This trade represents a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $67.25, for a total value of $378,281.25. Following the transaction, the chief executive officer now directly owns 530,998 shares of the company’s stock, valued at $35,709,615.50. The trade was a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,241 shares of company stock worth $1,061,665 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On eBay

Institutional investors have recently modified their holdings of the stock. Golden State Wealth Management LLC bought a new stake in shares of eBay in the 4th quarter worth about $27,000. Orion Capital Management LLC bought a new stake in shares of eBay in the fourth quarter valued at about $27,000. Pinney & Scofield Inc. purchased a new stake in eBay in the fourth quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new position in eBay during the 4th quarter worth about $33,000. Finally, Quarry LP bought a new position in eBay during the 3rd quarter worth about $36,000. 87.48% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on EBAY. Wedbush initiated coverage on shares of eBay in a research report on Monday, December 9th. They issued a “neutral” rating and a $70.00 target price for the company. Cantor Fitzgerald increased their price target on shares of eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. UBS Group boosted their price objective on shares of eBay from $66.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Jefferies Financial Group cut shares of eBay from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $60.00 to $52.00 in a research report on Tuesday, December 10th. Finally, Morgan Stanley increased their price target on shares of eBay from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.54.

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.