eBay (NASDAQ:EBAY) Shares Gap Up – Time to Buy?

eBay Inc. (NASDAQ:EBAY) 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 changing hands.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler boosted their target price on shares of eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. TD Cowen upped their price objective on eBay from $45.00 to $54.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Citigroup increased their price objective on shares of eBay from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft reduced their target price 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. Finally, Bank of America lowered their price target on shares of eBay from $67.00 to $64.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Two investment 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $62.63.

eBay Stock Performance

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 has a market capitalization of $30.71 billion, a PE ratio of 16.11, a P/E/G ratio of 2.20 and a beta of 1.35. The company’s fifty day simple moving average is $63.19 and its 200 day simple moving average is $59.37.

eBay Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 1.68%. eBay’s dividend payout ratio is 27.14%.

Insider Activity at eBay

In related news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $66.56, for a total transaction of $374,400.00. Following the transaction, the chief executive officer now owns 553,666 shares of the company’s stock, valued at approximately $36,852,008.96. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total value of $77,757.21. Following the completion of the transaction, the chief financial officer now directly owns 65,079 shares in the company, valued at $4,336,213.77. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,908 shares of company stock valued at $2,110,731. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

Several hedge funds have recently made changes to their positions in the business. Tortoise Investment Management LLC increased its position in shares of eBay by 894.2% during the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after buying an additional 465 shares during the period. Quarry LP purchased a new stake in eBay in the third quarter worth $36,000. USA Financial Formulas bought a new position in eBay in the third quarter worth $38,000. Northwest Investment Counselors LLC purchased a new position in eBay during the third quarter valued at $50,000. Finally, Financial Management Professionals Inc. boosted its holdings in shares of eBay by 276.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 846 shares of the e-commerce company’s stock valued at $55,000 after buying an additional 621 shares in the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

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.