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

eBay Inc. (NASDAQ:EBAY) was the target of a significant growth in short interest in 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. Based on an average daily trading volume, of 5,200,000 shares, the days-to-cover ratio is currently 5.0 days. Currently, 5.2% of the company’s stock are sold short.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. TD Cowen increased their price objective on shares of eBay from $42.00 to $45.00 and gave the company a “hold” rating in a research report on Thursday, May 2nd. Jefferies Financial Group raised their price target on shares of eBay from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Morgan Stanley lowered their price objective on eBay from $62.00 to $61.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on eBay from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $58.00 price objective on shares of eBay in a research report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $53.71.

eBay Stock Performance

NASDAQ:EBAY traded down $0.52 during mid-day trading on Wednesday, hitting $52.73. 243,659 shares of the company traded hands, compared to its average volume of 5,961,708. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.98. The stock’s fifty day moving average price is $52.50 and its 200-day moving average price is $48.41. The firm has a market cap of $26.47 billion, a price-to-earnings ratio of 10.61, a price-to-earnings-growth ratio of 2.47 and a beta of 1.31. eBay has a one year low of $37.17 and a one year high of $55.35.

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

eBay Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid 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 dividend yield of 2.05%. eBay’s dividend payout ratio (DPR) is presently 21.51%.

Insider Buying and Selling at eBay

In related news, CAO Rebecca Spencer sold 2,083 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 4,109 shares in the company, valued at approximately $220,324.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other eBay news, SVP Marie Oh Huber sold 49,070 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $49.63, for a total value of $2,435,344.10. Following the sale, the senior vice president now directly owns 177,391 shares of the company’s stock, valued at $8,803,915.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Rebecca Spencer sold 2,083 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $53.62, for a total value of $111,690.46. Following the transaction, the chief accounting officer now owns 4,109 shares of the company’s stock, valued at $220,324.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,558 shares of company stock valued at $3,001,254. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. CVA Family Office LLC purchased a new stake in eBay in the 4th quarter worth $25,000. LRI Investments LLC purchased a new stake in shares of eBay during the first quarter worth about $29,000. Washington Trust Advisors Inc. bought a new stake in eBay during the 1st quarter valued at approximately $30,000. Jones Financial Companies Lllp lifted its holdings in eBay by 73.5% in 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 in the last quarter. Finally, American National Bank lifted 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 worth $32,000 after purchasing an additional 400 shares in 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.