Morgan Stanley Reaffirms “Underweight” Rating for eBay Inc. (EBAY)

Morgan Stanley reissued their underweight rating on shares of eBay Inc. (NASDAQ:EBAY) in a research note issued to investors on Saturday, July 22nd. Morgan Stanley currently has a $28.00 target price on the e-commerce company’s stock.

Several other research analysts have also issued reports on EBAY. Stifel Nicolaus set a $36.00 price objective on eBay and gave the stock a neutral rating in a research note on Friday, July 21st. Cantor Fitzgerald reiterated a hold rating on shares of eBay in a research note on Monday, June 26th. Robert W. Baird reiterated an outperform rating and set a $38.00 price objective on shares of eBay in a research note on Thursday, July 13th. Maxim Group increased their price objective on eBay from $36.00 to $40.00 and gave the stock a buy rating in a research note on Thursday, July 13th. Finally, SunTrust Banks, Inc. restated a hold rating and issued a $35.00 target price on shares of eBay in a research note on Tuesday, April 11th. Three equities research analysts have rated the stock with a sell rating, twenty have issued a hold rating and seventeen have given a buy rating to the stock. eBay currently has an average rating of Hold and a consensus price target of $37.05.

Shares of eBay (NASDAQ EBAY) traded down 0.20% during mid-day trading on Friday, reaching $34.78. 8,747,216 shares of the company were exchanged. The company’s 50-day moving average is $35.77 and its 200 day moving average is $34.33. The firm has a market capitalization of $37.23 billion, a price-to-earnings ratio of 5.22 and a beta of 1.36. eBay has a 12 month low of $27.28 and a 12 month high of $37.48. eBay also was the recipient of unusually large options trading on Wednesday. Stock traders purchased 2,194 put options on the stock. This represents an increase of 231% compared to the typical volume of 663 put options.

eBay (NASDAQ:EBAY) last released its quarterly earnings data on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.45. eBay had a return on equity of 17.50% and a net margin of 80.93%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the company posted $0.43 earnings per share. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts predict that eBay will post $2.00 EPS for the current year.

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eBay announced that its board has initiated a stock buyback plan on Thursday, July 20th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the e-commerce company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, SVP Stephen Fisher sold 11,956 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $36.24, for a total transaction of $433,285.44. Following the completion of the sale, the senior vice president now directly owns 89,740 shares in the company, valued at approximately $3,252,177.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan sold 25,000 shares of the company’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $35.00, for a total value of $875,000.00. Following the sale, the director now owns 286,562 shares of the company’s stock, valued at $10,029,670. The disclosure for this sale can be found here. Insiders sold a total of 95,238 shares of company stock valued at $3,376,547 over the last 90 days. 6.78% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in EBAY. Vanguard Group Inc. increased its stake in eBay by 1.7% in the second quarter. Vanguard Group Inc. now owns 68,101,836 shares of the e-commerce company’s stock worth $2,378,116,000 after buying an additional 1,121,890 shares during the last quarter. 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 worth $2,095,089,000 after buying an additional 59,937,723 shares during the last quarter. Wellington Management Group LLP increased its stake in 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 last quarter. Boston Partners increased its stake in 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 last quarter. Finally, Independent Franchise Partners LLP increased its stake in 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 last quarter. Hedge funds and other institutional investors own 85.71% of the company’s stock.

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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