eBay (NASDAQ:EBAY) Hits New 52-Week High - Here's What Happened

eBay Inc. (NASDAQ:EBAY - Get Free Report)'s stock price reached a new 52-week high on Tuesday . The company traded as high as $72.94 and last traded at $72.63, with a volume of 1374544 shares traded. The stock had previously closed at $71.92.

Wall Street Analysts Forecast Growth

Several research firms have commented on EBAY. Susquehanna boosted their target price on eBay from $65.00 to $70.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Truist Financial lifted their price objective on eBay from $62.00 to $68.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Citigroup decreased their price target on shares of eBay from $80.00 to $79.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Daiwa America upgraded eBay from a "hold" rating to a "strong-buy" rating in a research report on Monday, May 12th. Finally, UBS Group lifted their price objective on eBay from $72.00 to $73.00 and gave the company a "neutral" rating in a research report on Tuesday, April 29th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $67.42.

eBay Trading Up 0.8%

The stock has a market cap of $33.42 billion, a P/E ratio of 18.24, a P/E/G ratio of 2.22 and a beta of 1.30. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock's fifty day moving average is $67.25 and its 200 day moving average is $65.98.

eBay (NASDAQ:EBAY - Get Free Report) last announced its earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. eBay had a return on equity of 30.97% and a net margin of 19.68%. The company's revenue for the quarter was up 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. As a group, equities research analysts predict that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 1.60%. eBay's dividend payout ratio is currently 27.62%.

Insiders Place Their Bets

In other news, CFO Stephen J. Priest sold 1,167 shares of the firm's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $66.21, for a total value of $77,267.07. Following the transaction, the chief financial officer now directly owns 65,080 shares of the company's stock, valued at approximately $4,308,946.80. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Julie A. Loeger sold 127,070 shares of eBay stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $69.43, for a total transaction of $8,822,470.10. Following the sale, the senior vice president now directly owns 123,282 shares in the company, valued at approximately $8,559,469.26. The trade was a 50.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 280,650 shares of company stock worth $19,637,729. Corporate insiders own 0.64% of the company's stock.

Institutional Investors Weigh In On eBay

Institutional investors and hedge funds have recently modified their holdings of the company. Ameriprise Financial Inc. raised its stake in shares of eBay by 12.4% in the fourth quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company's stock valued at $1,765,148,000 after acquiring an additional 3,149,934 shares in the last quarter. Independent Franchise Partners LLP increased its holdings in eBay by 4.6% during the 1st quarter. Independent Franchise Partners LLP now owns 11,689,267 shares of the e-commerce company's stock worth $791,714,000 after purchasing an additional 510,629 shares during the period. Invesco Ltd. raised its position in eBay by 8.0% in the 1st quarter. Invesco Ltd. now owns 8,441,396 shares of the e-commerce company's stock valued at $571,736,000 after purchasing an additional 627,823 shares in the last quarter. Northern Trust Corp boosted its stake in shares of eBay by 4.4% in the 1st quarter. Northern Trust Corp now owns 7,109,481 shares of the e-commerce company's stock valued at $481,525,000 after buying an additional 300,216 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of eBay by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company's stock worth $435,665,000 after buying an additional 245,624 shares in the last quarter. Hedge funds and other institutional investors own 87.48% of the company's stock.

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.

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