eBay (NASDAQ:EBAY) Trading Up 0.2% – Here’s Why

eBay Inc. (NASDAQ:EBAY)’s stock price was up 0.2% during trading on Tuesday . The company traded as high as $66.98 and last traded at $66.18. Approximately 681,376 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 4,940,013 shares. The stock had previously closed at $66.07.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EBAY. UBS Group increased their price target on eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, February 24th. Barclays set a $72.00 target price on shares of eBay and gave the company an “overweight” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. dropped their price target on shares of eBay from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Susquehanna raised their target price on eBay from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Finally, Benchmark boosted their price objective on eBay from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $65.21.

eBay Price Performance

The stock’s 50 day simple moving average is $66.47 and its 200-day simple moving average is $64.94. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $30.60 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43.

eBay Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.77%. This is a positive change from eBay’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, March 14th. eBay’s payout ratio is 29.07%.

Insider Buying and Selling

In related news, CEO Jamie Iannone sold 7,500 shares of eBay stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $66.35, for a total value of $497,625.00. Following the sale, the chief executive officer now directly owns 590,108 shares in the company, valued at approximately $39,153,665.80. The trade was a 1.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Cornelius Boone sold 3,958 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total value of $265,423.48. Following the completion of the transaction, the senior vice president now owns 94,392 shares in the company, valued at approximately $6,329,927.52. This trade represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,176 shares of company stock valued at $3,111,432. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On eBay

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its stake in eBay by 2.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 53,580 shares of the e-commerce company’s stock valued at $3,489,000 after acquiring an additional 1,063 shares in the last quarter. Kestra Investment Management LLC increased its holdings in shares of eBay by 172.5% in the fourth quarter. Kestra Investment Management LLC now owns 11,175 shares of the e-commerce company’s stock valued at $692,000 after purchasing an additional 7,074 shares during the last quarter. Van ECK Associates Corp lifted its position in eBay by 5,091.9% during the fourth quarter. Van ECK Associates Corp now owns 142,051 shares of the e-commerce company’s stock worth $8,800,000 after buying an additional 139,315 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in eBay by 35.1% during the fourth quarter. Jones Financial Companies Lllp now owns 8,121 shares of the e-commerce company’s stock worth $503,000 after buying an additional 2,110 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in eBay in the 4th quarter valued at $8,644,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

About eBay

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.