eBay Target of Unusually High Options Trading (EBAY)
eBay Inc. (NASDAQ:EBAY) was the recipient of unusually large options trading on Wednesday. Stock traders purchased 2,194 put options on the stock. This represents an increase of approximately 231% compared to the typical volume of 663 put options.
A number of research analysts have recently weighed in on the company. Credit Suisse Group upgraded 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 raised their price target on eBay from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Vetr cut 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. assumed coverage on eBay in a research report on Tuesday, August 15th. They issued a “hold” rating and a $38.00 price target for the company. Finally, Royal Bank Of Canada restated a “hold” rating on shares of eBay in a research report on Friday, August 18th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eighteen have assigned a buy rating to the company’s stock. eBay presently has a consensus rating of “Hold” and an average price target of $37.24.
Shares of eBay (EBAY) opened at 38.40 on Friday. The firm’s 50-day moving average price is $36.01 and its 200 day moving average price is $34.77. The stock has a market capitalization of $41.10 billion, a P/E ratio of 5.76 and a beta of 1.34. eBay has a 12-month low of $27.28 and a 12-month high of $38.87.
eBay (NASDAQ:EBAY) last issued its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. eBay had a return on equity of 17.50% and a net margin of 80.93%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the firm posted $0.43 EPS. eBay’s quarterly revenue was up 4.4% compared to the same quarter last year. Analysts predict that eBay will post $2.00 EPS for the current fiscal year.
eBay declared that its Board of Directors has initiated a share buyback program on Thursday, July 20th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the e-commerce company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
In other news, SVP Stephen Fisher sold 11,956 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $36.24, for a total value of $433,285.44. Following the completion of the transaction, the senior vice president now owns 89,740 shares in the company, valued at $3,252,177.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Brian J. Doerger sold 10,450 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $36.56, for a total value of $382,052.00. Following the completion of the transaction, the vice president now owns 24,001 shares of the company’s stock, valued at approximately $877,476.56. The disclosure for this sale can be found here. Insiders sold 95,238 shares of company stock valued at $3,439,297 in the last quarter. 6.78% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of EBAY. Captrust Financial Advisors acquired a new position in shares of eBay in the 2nd quarter worth approximately $108,000. BB&T Investment Services Inc. acquired a new position in shares of eBay in the 2nd quarter worth approximately $119,000. Westside Investment Management Inc. raised its holdings in shares of eBay by 284.0% in the 1st quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock worth $121,000 after buying an additional 2,638 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of eBay in the 2nd quarter worth approximately $123,000. Finally, FNY Partners Fund LP raised its holdings in shares of eBay by 660.0% in the 1st quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock worth $127,000 after buying an additional 3,300 shares in the last quarter. 84.91% of the stock is owned by institutional investors and hedge funds.
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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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