eBay Inc. (NASDAQ:EBAY) Sees Significant Increase in Short Interest

eBay Inc. (NASDAQ:EBAY) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totalling 26,010,000 shares, a growth of 14.3% from the May 31st total of 22,750,000 shares. Currently, 5.2% of the shares of the company are sold short. Based on an average daily trading volume, of 5,200,000 shares, the short-interest ratio is currently 5.0 days.

Analysts Set New Price Targets

Several analysts have commented on EBAY shares. Barclays raised their price objective on eBay from $61.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. began coverage on shares of eBay in a research report on Tuesday, June 25th. They set a “neutral” rating and a $60.00 price objective for the company. Benchmark reiterated a “buy” rating and issued a $58.00 target price on shares of eBay in a research report on Monday, June 17th. Jefferies Financial Group upped their price target on shares of eBay from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Finally, Wells Fargo & Company lifted their price objective on eBay from $47.00 to $57.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $53.71.

eBay Trading Down 1.0 %

Shares of EBAY traded down $0.52 during mid-day trading on Wednesday, reaching $52.73. The stock had a trading volume of 243,659 shares, compared to its average volume of 5,961,708. eBay has a 52-week low of $37.17 and a 52-week high of $55.35. The firm has a market cap of $26.47 billion, a price-to-earnings ratio of 10.61, a P/E/G ratio of 2.47 and a beta of 1.31. The business’s fifty day moving average is $52.50 and its 200 day moving average is $48.41. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.99 and a quick ratio of 1.99.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.05. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.53 billion. eBay had a net margin of 25.97% and a return on equity of 29.11%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 EPS. On average, sell-side analysts predict that eBay will post 3.72 EPS for the current fiscal year.

eBay Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.08 dividend on an annualized basis and a yield of 2.05%. eBay’s dividend payout ratio is currently 21.51%.

Insider Activity

In related news, CAO Rebecca Spencer sold 2,083 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $53.62, for a total transaction of $111,690.46. Following the sale, the chief accounting officer now directly owns 4,109 shares of the company’s stock, valued at $220,324.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other eBay news, SVP Edward O. Garcia sold 986 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $52.85, for a total value of $52,110.10. Following the completion of the transaction, the senior vice president now owns 37,126 shares in the company, valued at $1,962,109.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Rebecca Spencer sold 2,083 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $53.62, for a total value of $111,690.46. Following the sale, the chief accounting officer now owns 4,109 shares in the company, valued at $220,324.58. The disclosure for this sale can be found here. Insiders sold a total of 59,558 shares of company stock valued at $3,001,254 in the last quarter. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On eBay

Hedge funds have recently modified their holdings of the business. CVA Family Office LLC purchased a new stake in eBay in the 4th quarter valued at about $25,000. LRI Investments LLC purchased a new stake in shares of eBay in the 1st quarter valued at approximately $29,000. Washington Trust Advisors Inc. acquired a new position in shares of eBay in the 1st quarter worth approximately $30,000. Jones Financial Companies Lllp boosted its position in shares of eBay by 73.5% during the 4th quarter. Jones Financial Companies Lllp now owns 732 shares of the e-commerce company’s stock worth $32,000 after purchasing an additional 310 shares during the period. Finally, American National Bank increased its holdings in eBay by 200.0% in the 1st quarter. American National Bank now owns 600 shares of the e-commerce company’s stock valued at $32,000 after purchasing an additional 400 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

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.