Equity Management

eBay Inc. (NASDAQ:EBAY) Short Interest Update

eBay Inc. (NASDAQ:EBAY - Get Rating) was the target of a significant drop in short interest in December. As of December 15th, there was short interest totalling 17,510,000 shares, a drop of 8.8% from…

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Feb 3, 2023 • 5 min read

eBay Inc. (NASDAQ:EBAY - Get Rating) was the target of a large drop in short interest in December. As of December 15th, there was short interest totalling 17,510,000 shares, a drop of 8.8% from the November 30th total of 19,200,000 shares. Based on an average daily volume of 5,950,000 shares, the days-to-cover ratio is currently 2.9 days. Currently, 3.2% of the shares of the stock are sold short.

eBay Price Performance

NASDAQ EBAY opened at $41.47 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.36. The firm's fifty day moving average price is $42.57 and its two-hundred day moving average price is $42.98. eBay has a 1 year low of $35.92 and a 1 year high of $67.49.

eBay (NASDAQ:EBAY - Get Rating) last posted its quarterly earnings results on Wednesday, November 2nd. The e-commerce company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.09. eBay had a net margin of 0.28% and a return on equity of 29.43%. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.31 billion. Equities research analysts expect that eBay will post 3.36 earnings per share for the current year.

eBay Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 16th. Stockholders of record on Thursday, December 1st were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Wednesday, November 30th. eBay's payout ratio is presently -800.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on EBAY shares. Citigroup started coverage on shares of eBay in a research note on Tuesday, December 13th. They issued a "neutral" rating and a $47.00 target price on the stock. Bank of America reduced their target price on shares of eBay from $54.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, October 3rd. Barclays reduced their target price on shares of eBay from $59.00 to $56.00 and set an "overweight" rating on the stock in a research note on Thursday, November 3rd. Truist Financial reduced their price objective on shares of eBay from $60.00 to $48.00 and set a "hold" rating on the stock in a research note on Monday, October 24th. Finally, Cowen decreased their price objective on shares of eBay from $52.00 to $45.00 in a report on Wednesday, October 26th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $50.96.

Insider Buying and Selling

In other eBay news, Director Robert Holmes Swan sold 25,000 shares of the firm's stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $40.00, for a total value of $1,000,000.00. Following the completion of the sale, the director now owns 155,248 shares in the company, valued at approximately $6,209,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other eBay news, Director Robert Holmes Swan sold 25,000 shares of the firm's stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $40.00, for a total value of $1,000,000.00. Following the completion of the sale, the director now owns 155,248 shares in the company, valued at approximately $6,209,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian J. Doerger sold 9,542 shares of the firm's stock in a transaction dated Thursday, November 10th. The shares were sold at an average price of $44.12, for a total transaction of $420,993.04. The disclosure for this sale can be found here. Insiders sold 38,853 shares of company stock worth $1,601,581 in the last quarter. 0.17% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On eBay

Several large investors have recently modified their holdings of EBAY. American Century Companies Inc. raised its position in shares of eBay by 9.5% in the first quarter. American Century Companies Inc. now owns 41,990 shares of the e-commerce company's stock valued at $2,404,000 after purchasing an additional 3,655 shares during the period. Martingale Asset Management L P bought a new position in shares of eBay in the first quarter valued at about $216,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of eBay by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 83,761 shares of the e-commerce company's stock valued at $4,796,000 after purchasing an additional 5,186 shares during the period. Yousif Capital Management LLC raised its position in shares of eBay by 0.7% in the first quarter. Yousif Capital Management LLC now owns 109,527 shares of the e-commerce company's stock valued at $6,272,000 after purchasing an additional 723 shares during the period. Finally, Raymond James Trust N.A. grew its stake in shares of eBay by 21.7% in the first quarter. Raymond James Trust N.A. now owns 9,176 shares of the e-commerce company's stock valued at $526,000 after acquiring an additional 1,638 shares in the last quarter. 85.51% of the stock is owned by institutional investors.

About eBay

eBay Inc operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, directories, search engines, commerce participants, shopping channels, and networks.