eBay Sees Unusually High Options Volume (EBAY)

eBay Inc. (NASDAQ:EBAY) was the target of unusually large options trading on Wednesday. Stock investors purchased 2,194 put options on the company. This is an increase of 231% compared to the average daily volume of 663 put options.

A number of research firms recently weighed in on EBAY. J P Morgan Chase & Co set a $38.00 price target on eBay and gave the company a “neutral” rating in a report on Friday, July 21st. BMO Capital Markets reaffirmed a “market perform” rating and set a $36.00 price target on shares of eBay in a report on Saturday, July 22nd. Canaccord Genuity reaffirmed a “hold” rating and set a $34.00 price target on shares of eBay in a report on Wednesday, September 6th. Maxim Group raised their price target on eBay from $36.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, July 13th. Finally, UBS Group AG (USA) set a $40.00 price target on eBay and gave the company a “buy” rating in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $38.45.

In related news, SVP Stephen Fisher sold 69,406 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $37.63, for a total transaction of $2,611,747.78. Following the completion of the sale, the senior vice president now directly owns 144,047 shares of the company’s stock, valued at approximately $5,420,488.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Harry A. Lawton III sold 34,832 shares of the firm’s stock in a transaction 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 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. Over the last three months, insiders sold 201,655 shares of company stock valued at $7,486,428. 6.78% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in EBAY. Captrust Financial Advisors acquired a new position in eBay during the second quarter worth approximately $108,000. BB&T Investment Services Inc. bought a new stake in shares of eBay during the second quarter worth approximately $119,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of eBay during the second quarter worth approximately $123,000. FNY Partners Fund LP boosted its holdings in shares of eBay by 660.0% during the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock worth $127,000 after acquiring an additional 3,300 shares during the period. Finally, Westside Investment Management Inc. boosted its holdings in shares of eBay by 1.7% during the second quarter. Westside Investment Management Inc. now owns 3,627 shares of the e-commerce company’s stock worth $127,000 after acquiring an additional 60 shares during the period. 87.23% of the stock is currently owned by hedge funds and other institutional investors.

eBay (NASDAQ:EBAY) opened at $37.50 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.46 and a quick ratio of 2.46. The stock has a market capitalization of $39.07 billion, a price-to-earnings ratio of 23.38, a P/E/G ratio of 2.87 and a beta of 1.36.

eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Wednesday, October 18th. The e-commerce company reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.37 billion. eBay had a return on equity of 15.69% and a net margin of 80.45%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. equities research analysts anticipate that eBay will post 1.65 earnings per share for the current fiscal year.

eBay declared that its Board of Directors has authorized a share repurchase program on Thursday, July 20th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the e-commerce company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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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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