Investors Purchase Large Volume of eBay Put Options (EBAY)
eBay Inc. (NASDAQ:EBAY) was the target of some unusual options trading activity on Wednesday. Traders purchased 2,194 put options on the stock. This represents an increase of 231% compared to the average daily volume of 663 put options.
In other eBay news, Director Robert Holmes Swan sold 25,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $35.00, for a total transaction of $875,000.00. Following the completion of the sale, the director now directly owns 286,562 shares in the company, valued at $10,029,670. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Stephen Fisher sold 11,956 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $36.24, for a total transaction of $433,285.44. Following the sale, the senior vice president now owns 89,740 shares of the company’s stock, valued at $3,252,177.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,238 shares of company stock valued at $3,376,547. Company insiders own 6.78% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in eBay by 1.7% in the second quarter. Vanguard Group Inc. now owns 68,101,836 shares of the e-commerce company’s stock valued at $2,378,116,000 after buying an additional 1,121,890 shares in the last quarter. BlackRock Inc. increased its stake in eBay by 2,424.9% in the first quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock valued at $2,095,089,000 after buying an additional 59,937,723 shares in the last quarter. Wellington Management Group LLP increased its stake in eBay by 169.5% in the first quarter. Wellington Management Group LLP now owns 37,211,205 shares of the e-commerce company’s stock valued at $1,249,180,000 after buying an additional 23,404,909 shares in the last quarter. Boston Partners increased its stake in eBay by 1.9% in the first quarter. Boston Partners now owns 29,574,853 shares of the e-commerce company’s stock valued at $992,828,000 after buying an additional 544,112 shares in the last quarter. Finally, Independent Franchise Partners LLP increased its stake in eBay by 17.6% in the second quarter. Independent Franchise Partners LLP now owns 19,322,583 shares of the e-commerce company’s stock valued at $674,744,000 after buying an additional 2,898,085 shares in the last quarter. 85.71% of the stock is currently owned by institutional investors.
Several research firms have issued reports on EBAY. Credit Suisse Group upgraded shares of eBay to a “buy” rating and set a $44.00 price target for the company in a research report on Monday, June 12th. Bank of America Corporation upped their price target on shares of eBay from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Vetr lowered shares of eBay from a “strong-buy” rating to a “buy” rating and set a $38.72 price target for the company. in a research report on Wednesday, May 24th. SunTrust Banks, Inc. started coverage on shares of eBay in a research report on Tuesday. They set a “hold” rating and a $38.00 price target for the company. Finally, Aegis reaffirmed a “buy” rating and set a $42.00 price objective on shares of eBay in a research note on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seventeen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $37.05.
Shares of eBay (NASDAQ EBAY) opened at 34.78 on Friday. eBay has a one year low of $27.28 and a one year high of $37.48. The company has a 50-day moving average of $35.77 and a 200 day moving average of $34.33. The stock has a market cap of $37.23 billion, a PE ratio of 5.22 and a beta of 1.36.
eBay (NASDAQ:EBAY) last released 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. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. eBay had a net margin of 80.93% and a return on equity of 17.50%. eBay’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 EPS. On average, analysts predict that eBay will post $2.00 earnings per share for the current year.
eBay announced that its board has authorized a stock repurchase program on Thursday, July 20th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the e-commerce company to buy up to 7.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
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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