Traders Purchase Large Volume of Call Options on eBay (EBAY)
eBay Inc. (NASDAQ:EBAY) was the recipient of some unusual options trading on Monday. Stock investors purchased 4,033 call options on the stock. This represents an increase of 484% compared to the typical daily volume of 690 call options.
In other eBay news, VP Brian J. Doerger sold 2,903 shares of the business’s stock in a transaction on Friday, May 12th. The stock was sold at an average price of $34.11, for a total value of $99,021.33. Following the sale, the vice president now directly owns 30,701 shares in the company, valued at $1,047,211.11. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brian J. Doerger sold 10,450 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $36.56, for a total value of $382,052.00. Following the completion of the sale, the vice president now owns 24,001 shares in the company, valued at $877,476.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,206 shares of company stock worth $2,659,043. Corporate insiders own 6.78% of the company’s stock.
Several hedge funds have recently bought and sold shares of EBAY. BlackRock Inc. increased its stake in eBay by 2,424.9% in the first quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock valued at $2,095,089,000 after buying an additional 59,937,723 shares in the last quarter. Wellington Management Group LLP increased its position in shares of eBay by 169.5% in the first quarter. Wellington Management Group LLP now owns 37,211,205 shares of the e-commerce company’s stock worth $1,249,180,000 after buying an additional 23,404,909 shares during the period. Boston Partners increased its position in shares of eBay by 1.9% in the first quarter. Boston Partners now owns 29,574,853 shares of the e-commerce company’s stock worth $992,828,000 after buying an additional 544,112 shares during the period. Independent Franchise Partners LLP increased its position in shares of eBay by 17.6% in the second quarter. Independent Franchise Partners LLP now owns 19,322,583 shares of the e-commerce company’s stock worth $674,744,000 after buying an additional 2,898,085 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of eBay by 46.7% in the first quarter. Nordea Investment Management AB now owns 14,928,670 shares of the e-commerce company’s stock worth $501,155,000 after buying an additional 4,749,434 shares during the period. 86.48% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently weighed in on EBAY. Macquarie reiterated a “neutral” rating and issued a $39.00 price target on shares of eBay in a research report on Tuesday, April 18th. Credit Suisse Group upgraded eBay to a “buy” rating and set a $44.00 price target for the company in a research report on Monday, June 12th. Stifel Nicolaus reiterated a “hold” rating and issued a $35.00 price target on shares of eBay in a research report on Friday, April 14th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $39.00 price target (up from $38.00) on shares of eBay in a research report on Thursday, April 20th. Finally, Bank of America Corporation lifted their price target on eBay from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $36.97.
eBay (NASDAQ EBAY) opened at 36.08 on Thursday. The stock has a market cap of $38.62 billion, a P/E ratio of 5.41 and a beta of 1.36. eBay has a 12-month low of $27.28 and a 12-month high of $37.48. The firm’s 50 day moving average price is $35.63 and its 200-day moving average price is $34.01.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. eBay had a net margin of 80.93% and a return on equity of 17.50%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. Equities research analysts anticipate that eBay will post $2.00 earnings per share for the current fiscal year.
eBay announced that its board has authorized a stock buyback plan on Thursday, July 20th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the e-commerce company to buy up to 7.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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