Stock Traders Buy Large Volume of eBay Put Options (NASDAQ:EBAY)
eBay Inc. (NASDAQ:EBAY) was the recipient of some unusual options trading on Wednesday. Stock traders acquired 2,194 put options on the stock. This represents an increase of 231% compared to the average daily volume of 663 put options.
In related news, VP Brian J. Doerger sold 2,903 shares of eBay stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $34.11, for a total value of $99,021.33. Following the completion of the sale, the vice president now directly owns 30,701 shares in the company, valued at $1,047,211.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stephen Fisher sold 33,008 shares of eBay stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $32.35, for a total value of $1,067,808.80. Following the completion of the sale, the senior vice president now owns 109,468 shares of the company’s stock, valued at $3,541,289.80. The disclosure for this sale can be found here. Insiders sold 85,712 shares of company stock valued at $2,877,612 over the last 90 days. 6.78% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of EBAY. Dodge & Cox purchased a new stake in eBay during the fourth quarter worth approximately $12,668,000. River & Mercantile Asset Management LLP acquired a new position in eBay during the fourth quarter valued at approximately $2,738,000. USA Financial Portformulas Corp acquired a new position in eBay during the fourth quarter valued at approximately $5,303,000. Kentucky Retirement Systems acquired a new position in eBay during the fourth quarter valued at approximately $2,240,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in eBay during the fourth quarter valued at approximately $999,000. Institutional investors own 85.02% of the company’s stock.
Several analysts recently weighed in on the company. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $39.00 price objective (up from $38.00) on shares of eBay in a report on Thursday, April 20th. Canaccord Genuity restated a “hold” rating and issued a $32.00 price objective (up from $31.00) on shares of eBay in a report on Thursday, April 20th. Citigroup Inc. restated a “buy” rating and issued a $43.00 price objective (up from $42.00) on shares of eBay in a report on Friday. UBS AG set a $40.00 price objective on eBay and gave the company a “buy” rating in a report on Friday. Finally, Barclays PLC set a $42.00 price objective on eBay and gave the company a “buy” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $36.58.
eBay (NASDAQ:EBAY) opened at 36.61 on Friday. eBay has a 1-year low of $27.28 and a 1-year high of $37.48. The company has a 50-day moving average price of $35.28 and a 200 day moving average price of $33.60. The firm has a market capitalization of $39.62 billion, a P/E ratio of 5.27 and a beta of 1.36.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45. eBay had a return on equity of 20.44% and a net margin of 86.31%. 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 previous year, the business earned $0.43 earnings per share. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts expect that eBay will post $2.01 earnings per share for the current fiscal year.
eBay announced that its board has approved a share buyback program on Thursday, July 20th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the e-commerce company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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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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