eBay Inc. (EBAY) Short Interest Down 14.7% in October

eBay Inc. (NASDAQ:EBAY) was the target of a significant decrease in short interest in October. As of October 13th, there was short interest totalling 21,298,756 shares, a decrease of 14.7% from the September 29th total of 24,963,336 shares. Based on an average daily trading volume, of 7,240,362 shares, the days-to-cover ratio is currently 2.9 days. Approximately 2.1% of the shares of the company are sold short.

In other news, SVP Marie Oh Huber sold 72,417 shares of the firm’s stock in a transaction that occurred on Monday, October 23rd. The stock was sold at an average price of $37.53, for a total value of $2,717,810.01. Following the completion of the sale, the senior vice president now directly owns 101,589 shares of the company’s stock, valued at approximately $3,812,635.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Harry A. Lawton III sold 34,832 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $35.00, for a total value of $1,219,120.00. Following the completion of the sale, the senior vice president now directly owns 83,058 shares of the company’s stock, valued at $2,907,030. The disclosure for this sale can be found here. In the last ninety days, insiders sold 201,655 shares of company stock valued at $7,486,428. Corporate insiders own 6.78% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in EBAY. Waldron LP purchased a new stake in eBay in the first quarter valued at approximately $210,000. Teachers Advisors LLC raised its position in eBay by 0.5% in the first quarter. Teachers Advisors LLC now owns 2,213,551 shares of the e-commerce company’s stock valued at $74,309,000 after purchasing an additional 10,338 shares during the period. Marco Investment Management LLC raised its position in eBay by 2.0% in the first quarter. Marco Investment Management LLC now owns 45,498 shares of the e-commerce company’s stock valued at $1,527,000 after purchasing an additional 900 shares during the period. Fifth Third Bancorp raised its position in eBay by 3.6% in the first quarter. Fifth Third Bancorp now owns 6,936 shares of the e-commerce company’s stock valued at $233,000 after purchasing an additional 241 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in eBay by 4.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 13,700,034 shares of the e-commerce company’s stock valued at $459,911,000 after purchasing an additional 604,985 shares during the period. 87.29% of the stock is currently owned by institutional investors.

eBay (NASDAQ EBAY) traded up $0.28 on Friday, reaching $35.97. The company had a trading volume of 8,329,600 shares, compared to its average volume of 8,878,368. eBay has a 12-month low of $27.28 and a 12-month high of $39.28. The firm has a market capitalization of $37,280.74, a PE ratio of 22.31, a PEG ratio of 2.74 and a beta of 1.36. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.82.

eBay (NASDAQ:EBAY) last released its quarterly earnings data on Wednesday, October 18th. The e-commerce company reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. eBay had a return on equity of 15.69% and a net margin of 80.45%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. equities analysts predict that eBay will post 1.65 earnings per share for the current year.

eBay announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 20th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the e-commerce company to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Several equities research analysts have recently weighed in on the company. BidaskClub downgraded eBay from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Mizuho reiterated an “underperform” rating and issued a $34.00 price target on shares of eBay in a report on Monday, August 7th. SunTrust Banks, Inc. assumed coverage on eBay in a report on Tuesday, August 15th. They set a “hold” rating and a $38.00 price objective on the stock. KeyCorp restated a “hold” rating on shares of eBay in a report on Wednesday, October 11th. Finally, Royal Bank of Canada restated a “hold” rating on shares of eBay in a report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and seventeen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $38.45.

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About eBay

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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