eBay (NASDAQ:EBAY) Hits New 1-Year High – Here’s Why

eBay Inc. (NASDAQ:EBAY) shares reached a new 52-week high on Wednesday . The stock traded as high as $70.86 and last traded at $70.84, with a volume of 4249226 shares. The stock had previously closed at $63.17.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on EBAY shares. Benchmark reiterated a “buy” rating and set a $65.00 price objective on shares of eBay in a report on Tuesday, October 29th. Wedbush assumed coverage on eBay in a report on Monday, December 9th. They set a “neutral” rating and a $70.00 price objective for the company. Truist Financial raised their target price on eBay from $58.00 to $62.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Jefferies Financial Group downgraded eBay from a “hold” rating to an “underperform” rating and decreased their price target for the stock from $60.00 to $52.00 in a report on Tuesday, December 10th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of eBay in a research note on Monday, October 7th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, eBay presently has a consensus rating of “Hold” and an average target price of $62.92.

eBay Stock Performance

The company has a market capitalization of $33.87 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.20 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The company’s fifty day moving average is $62.70 and its 200 day moving average is $60.35.

eBay Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Friday, November 29th. eBay’s dividend payout ratio (DPR) is presently 27.14%.

Insider Activity at eBay

In related news, CFO Stephen J. Priest sold 5,252 shares of eBay stock in a transaction on Monday, December 16th. The stock was sold at an average price of $63.63, for a total transaction of $334,184.76. Following the completion of the sale, the chief financial officer now owns 65,080 shares of the company’s stock, valued at approximately $4,141,040.40. This trade represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $59.91, for a total value of $336,993.75. Following the completion of the transaction, the chief executive officer now owns 548,042 shares in the company, valued at $32,833,196.22. This represents a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,283 shares of company stock worth $1,715,462. 0.38% of the stock is owned by company insiders.

Institutional Trading of eBay

Large investors have recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in eBay by 0.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,494 shares of the e-commerce company’s stock valued at $3,418,000 after purchasing an additional 153 shares in the last quarter. Optas LLC increased its position in shares of eBay by 0.5% during the 3rd quarter. Optas LLC now owns 34,082 shares of the e-commerce company’s stock valued at $2,219,000 after purchasing an additional 171 shares during the last quarter. Davis Investment Partners LLC raised its holdings in shares of eBay by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 23,475 shares of the e-commerce company’s stock valued at $1,531,000 after buying an additional 180 shares in the last quarter. Arvest Investments Inc. lifted its position in eBay by 1.2% in the 3rd quarter. Arvest Investments Inc. now owns 15,205 shares of the e-commerce company’s stock worth $990,000 after buying an additional 183 shares during the last quarter. Finally, Marco Investment Management LLC boosted its stake in eBay by 2.0% in the third quarter. Marco Investment Management LLC now owns 10,335 shares of the e-commerce company’s stock worth $673,000 after buying an additional 200 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.

eBay Company Profile

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company’s marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.