eBay Sees Unusually Large Options Volume (EBAY)
eBay Inc. (NASDAQ:EBAY) saw some unusual options trading activity on Monday. Traders bought 4,033 call options on the company. This is an increase of approximately 484% compared to the typical volume of 690 call options.
In related news, Director Robert Holmes Swan sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $37.51, for a total transaction of $937,750.00. Following the completion of the sale, the director now owns 262,119 shares of the company’s stock, valued at $9,832,083.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian J. Doerger sold 10,450 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $36.56, for a total transaction of $382,052.00. Following the sale, the vice president now directly 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 have sold 95,238 shares of company stock valued at $3,439,297 in the last three months. 6.78% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in EBAY. BlackRock Inc. lifted its holdings in shares of eBay by 2,424.9% during the 1st quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock worth $2,095,089,000 after acquiring an additional 59,937,723 shares during the period. Wellington Management Group LLP lifted its holdings in shares of eBay by 169.5% during the 1st quarter. Wellington Management Group LLP now owns 37,211,205 shares of the e-commerce company’s stock worth $1,249,180,000 after acquiring an additional 23,404,909 shares during the period. Glenview Capital Management LLC lifted its holdings in shares of eBay by 442.0% during the 2nd quarter. Glenview Capital Management LLC now owns 8,905,922 shares of the e-commerce company’s stock worth $310,995,000 after acquiring an additional 7,262,862 shares during the period. Nordea Investment Management AB lifted its holdings in shares of eBay by 46.7% during the 1st quarter. Nordea Investment Management AB now owns 14,928,670 shares of the e-commerce company’s stock worth $501,155,000 after acquiring an additional 4,749,434 shares during the period. Finally, Harding Loevner LP purchased a new position in shares of eBay during the 2nd quarter worth about $128,878,000. Institutional investors and hedge funds own 84.83% of the company’s stock.
A number of research analysts have issued reports on EBAY shares. Credit Suisse Group raised shares of eBay to a “buy” rating and set a $44.00 price target for the company in a report on Monday, June 12th. Goldman Sachs Group, Inc. (The) set a $42.00 price target on shares of eBay and gave the stock a “buy” rating in a report on Wednesday, June 28th. Aegis raised their price target on shares of eBay from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, June 27th. Vetr raised shares of eBay from a “hold” rating to a “buy” rating and set a $37.30 price target for the company in a report on Monday, June 12th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $41.00 price target (up previously from $36.00) on shares of eBay in a report on Thursday, June 8th. Three analysts have rated the stock with a sell rating, twenty have given a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $37.30.
Shares of eBay (NASDAQ EBAY) opened at 38.54 on Thursday. The stock has a market capitalization of $41.25 billion, a P/E ratio of 5.78 and a beta of 1.34. eBay has a 1-year low of $27.28 and a 1-year high of $38.87. The stock has a 50 day moving average of $36.16 and a 200-day moving average of $34.85.
eBay (NASDAQ:EBAY) last released its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. eBay had a net margin of 80.93% and a return on equity of 17.50%. The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the company earned $0.43 EPS. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. Equities research analysts predict that eBay will post $2.00 earnings per share for the current fiscal year.
eBay declared that its Board of Directors has authorized a stock buyback 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 repurchase up to 7.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.
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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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