eBay (NASDAQ:EBAY) Reaches New 52-Week High – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on EBAY shares. Robert W. Baird decreased their target price on shares of eBay from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Barclays decreased their price objective on eBay from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wedbush began coverage on eBay in a report on Monday, December 9th. They set a “neutral” rating and a $70.00 target price for the company. StockNews.com cut eBay from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group downgraded eBay from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $60.00 to $52.00 in a research report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.92.

eBay Price Performance

The firm has a market cap of $33.87 billion, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.20 and a beta of 1.35. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The firm’s 50 day moving average is $62.70 and its 200 day moving average is $60.35.

eBay Announces Dividend

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

Insider Buying and Selling at eBay

In other eBay news, SVP Cornelius Boone sold 3,989 shares of eBay stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $65.20, for a total value of $260,082.80. Following the completion of the sale, the senior vice president now owns 71,469 shares of the company’s stock, valued at approximately $4,659,778.80. This trade represents a 5.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $59.91, for a total value of $336,993.75. Following the transaction, the chief executive officer now directly owns 548,042 shares in the company, valued at approximately $32,833,196.22. The trade was a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,283 shares of company stock worth $1,715,462. 0.38% of the stock is owned by insiders.

Hedge Funds Weigh In On eBay

A number of hedge funds have recently bought and sold shares of EBAY. Quarry LP purchased a new stake in eBay during the third quarter valued at $36,000. USA Financial Formulas bought a new stake in shares of eBay during the 3rd quarter valued at about $38,000. Northwest Investment Counselors LLC purchased a new stake in shares of eBay during the 3rd quarter valued at about $50,000. Versant Capital Management Inc lifted its stake in shares of eBay by 115.5% in the 4th quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock worth $52,000 after purchasing an additional 448 shares during the period. Finally, Financial Management Professionals Inc. boosted its holdings in shares of eBay by 276.0% in the third quarter. Financial Management Professionals Inc. now owns 846 shares of the e-commerce company’s stock worth $55,000 after buying an additional 621 shares during the last quarter. Hedge funds and other institutional investors 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.