eBay Inc. (NASDAQ:EBAY) Sees Large Drop in Short Interest

eBay Inc. (NASDAQ:EBAY) was the recipient of a significant decrease in short interest in October. As of October 31st, there was short interest totalling 19,080,000 shares, a decrease of 9.5% from the October 15th total of 21,090,000 shares. Based on an average trading volume of 4,820,000 shares, the days-to-cover ratio is presently 4.0 days. Approximately 4.0% of the company’s stock are short sold.

eBay Price Performance

Shares of NASDAQ EBAY traded down $0.21 during midday trading on Tuesday, reaching $61.20. The stock had a trading volume of 804,059 shares, compared to its average volume of 5,389,441. The stock has a 50-day moving average of $63.57 and a 200-day moving average of $57.64. 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 company has a market capitalization of $29.31 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 1.60 and a beta of 1.34. eBay has a 12-month low of $38.97 and a 12-month high of $67.80.

eBay Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.27 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.76%. eBay’s payout ratio is currently 27.14%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on EBAY shares. Citigroup upped their target price on shares of eBay from $65.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Morgan Stanley increased their price objective on eBay from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Jefferies Financial Group lifted their price objective on eBay from $58.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Piper Sandler lifted their price objective on eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Finally, Mizuho lifted their target price on eBay from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, eBay currently has an average rating of “Hold” and an average price target of $62.87.

Insider Activity

In other news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction on Friday, October 4th. The stock was sold at an average price of $66.09, for a total transaction of $371,756.25. Following the transaction, the chief executive officer now owns 559,291 shares in the company, valued at $36,963,542.19. The trade was a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $256,760.14. Following the sale, the senior vice president now owns 70,113 shares in the company, valued at $4,530,000.93. This trade represents a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,016 shares of company stock worth $3,015,417 over the last 90 days. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On eBay

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in eBay by 0.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,494 shares of the e-commerce company’s stock worth $3,418,000 after purchasing an additional 153 shares during the last quarter. Optas LLC grew its position in eBay by 0.5% during the 3rd quarter. Optas LLC now owns 34,082 shares of the e-commerce company’s stock worth $2,219,000 after purchasing an additional 171 shares during the last quarter. Davis Investment Partners LLC grew its position in eBay by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 23,475 shares of the e-commerce company’s stock worth $1,531,000 after purchasing an additional 180 shares during the last quarter. Arvest Investments Inc. lifted its stake in eBay by 1.2% during the 3rd quarter. Arvest Investments Inc. now owns 15,205 shares of the e-commerce company’s stock valued at $990,000 after acquiring an additional 183 shares during the period. Finally, Marco Investment Management LLC lifted its stake in eBay by 2.0% during the 3rd quarter. Marco Investment Management LLC now owns 10,335 shares of the e-commerce company’s stock valued at $673,000 after acquiring an additional 200 shares during the period. 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.