eBay (NASDAQ:EBAY) Reaches New 12-Month High – Here’s What Happened

eBay Inc. (NASDAQ:EBAY)’s share price reached a new 52-week high during trading on Wednesday. The company traded as high as $125.40 and last traded at $124.89, with a volume of 585,343 shares traded. The stock had previously closed at $118.62.

Analyst Upgrades and Downgrades

Several research firms recently commented on EBAY. Evercore set a $120.00 price objective on shares of eBay in a research note on Thursday, October 29th. Cantor Fitzgerald reduced their price target on shares of eBay from $110.00 to $106.00 and set a “neutral” rating for the company in a research report on Thursday, August 6th. Arete Research decreased their price objective on shares of eBay from $113.00 to $111.00 and set a “neutral” rating for the company in a report on Thursday, September 24th. Argus raised eBay from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a research report on Friday, August 7th. Finally, Needham & Company LLC increased their price objective on eBay from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Seventeen equities research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $123.36.

eBay Trading Up 6.1%

The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.78 and a current ratio of 0.78. The business has a fifty day moving average price of $111.39 and a 200 day moving average price of $104.11. The firm has a market capitalization of $55.24 billion, a price-to-earnings ratio of 27.47, a P/E/G ratio of 2.89 and a beta of 1.30.

eBay (NASDAQ:EBAY) last posted its earnings results on Wednesday, October 28th. The e-commerce company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. eBay had a return on equity of 49.20% and a net margin of 16.84%. The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the firm earned $1.36 earnings per share. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, equities analysts forecast that eBay Inc. will post 4.75 earnings per share for the current year.

eBay Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.24 annualized dividend and a dividend yield of 1.0%. eBay’s payout ratio is presently 27.07%.

Insider Activity

In related news, SVP Jordan Sweetnam sold 1,014 shares of eBay stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $101.39, for a total value of $102,809.46. Following the completion of the transaction, the senior vice president directly owned 35,546 shares in the company, valued at approximately $3,604,008.94. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jamie Iannone sold 11,110 shares of the business’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $107.08, for a total value of $1,189,658.80. Following the completion of the sale, the chief executive officer directly owned 226,269 shares of the company’s stock, valued at approximately $24,228,884.52. This represents a 4.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,234 shares of company stock worth $2,429,577 in the last ninety days. Corporate insiders own 0.67% of the company’s stock.

Institutional Investors Weigh In On eBay

Large investors have recently added to or reduced their stakes in the stock. AlphaCore Capital LLC raised its holdings in shares of eBay by 98.9% in the 3rd quarter. AlphaCore Capital LLC now owns 10,358 shares of the e-commerce company’s stock valued at $1,098,000 after buying an additional 5,150 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of eBay by 3.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 44,041 shares of the e-commerce company’s stock valued at $4,664,000 after purchasing an additional 1,530 shares during the last quarter. Hohimer Wealth Management LLC acquired a new stake in eBay in the third quarter valued at $6,191,000. M Holdings Securities Inc. purchased a new stake in eBay during the third quarter worth approximately $1,802,000. Finally, Brighton Jones LLC lifted its position in shares of eBay by 1.9% during the 3rd quarter. Brighton Jones LLC now owns 7,458 shares of the e-commerce company’s stock worth $791,000 after buying an additional 142 shares during the last quarter. 87.48% of the stock is owned by institutional investors and hedge funds.

eBay Company Profile

eBay Inc operates a global online marketplace that connects buyers and sellers. Through its platform, individuals, small businesses and larger retailers can list and purchase new, used and refurbished merchandise across categories such as electronics, apparel, collectibles, automotive parts and accessories, home goods and industrial products. Transactions may take place through auctions or fixed-price listings, with payments, shipping and other seller and buyer services supporting the marketplace experience.

Founded in 1995 as AuctionWeb by Pierre Omidyar, eBay has grown from an online auction site into a broad e-commerce platform.