eBay (NASDAQ:EBAY) Shares Gap Up – What’s Next?

eBay Inc. (NASDAQ:EBAY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $63.64, but opened at $65.20. eBay shares last traded at $63.91, with a volume of 380,050 shares traded.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Jefferies Financial Group downgraded shares of eBay from a “hold” rating to an “underperform” rating and cut their price objective for the company from $60.00 to $52.00 in a research report on Tuesday, December 10th. The Goldman Sachs Group increased their target price on eBay from $46.00 to $55.00 and gave the company a “sell” rating in a research note on Tuesday, October 15th. Piper Sandler upped their price target on eBay from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Citigroup increased their price objective on eBay from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of eBay from $70.00 to $63.00 and set a “buy” rating for the company in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.63.

eBay Stock Down 0.2 %

The business’s fifty day moving average price is $63.19 and its two-hundred day moving average price is $59.37. 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 capitalization of $30.71 billion, a P/E ratio of 16.11, a PEG ratio of 2.20 and a beta of 1.35.

eBay Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders 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 yield of 1.68%. eBay’s dividend payout ratio (DPR) is 27.14%.

Insiders Place Their Bets

In related news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $66.09, for a total value of $371,756.25. Following the transaction, the chief executive officer now owns 559,291 shares in the company, valued at approximately $36,963,542.19. This represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cornelius Boone sold 3,989 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $65.20, for a total transaction of $260,082.80. Following the completion of the sale, the senior vice president now directly owns 71,469 shares in the company, valued at $4,659,778.80. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,908 shares of company stock valued at $2,110,731. 0.38% of the stock is currently owned by insiders.

Hedge Funds Weigh In On eBay

Institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC purchased a new position in eBay in the third quarter valued at $25,132,000. Retirement Systems of Alabama lifted its position in shares of eBay by 27.0% during the 3rd quarter. Retirement Systems of Alabama now owns 986,165 shares of the e-commerce company’s stock valued at $64,209,000 after buying an additional 209,433 shares in the last quarter. Franklin Resources Inc. increased its holdings in eBay by 14.5% in the 3rd quarter. Franklin Resources Inc. now owns 784,378 shares of the e-commerce company’s stock worth $52,459,000 after acquiring an additional 99,561 shares in the last quarter. Tidal Investments LLC raised its position in eBay by 7.5% during the third quarter. Tidal Investments LLC now owns 67,209 shares of the e-commerce company’s stock worth $4,376,000 after acquiring an additional 4,677 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in eBay during the third quarter valued at $241,000. 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.