Insider Selling: eBay (NASDAQ:EBAY) SVP Sells 31,000 Shares of Company Stock

Key Points

• eBay SVP Cornelius Boone sold 31,000 shares for about $3.82 million, reducing his stake by 29.33% to 74,702 shares.
• eBay beat quarterly expectations, reporting EPS of $1.51 versus $1.41 expected and revenue of $3.21 billion; revenue rose 13.7% year over year.
• The company announced a quarterly dividend of $0.31 per share, equivalent to a 1.0% annualized yield. Analysts’ average rating was “Hold,” with an average price target of $123.52.

eBay Inc. (NASDAQ:EBAY - Get Free Report) SVP Cornelius Boone sold 31,000 shares of the firm's stock in a transaction on Wednesday, November 11th. The shares were sold at an average price of $123.37, for a total transaction of $3,824,470.00. Following the completion of the transaction, the senior vice president owned 74,702 shares in the company, valued at $9,215,985.74. The trade was a 29.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

eBay Stock Performance

NASDAQ EBAY traded up $1.16 during trading on Friday, hitting $121.30. The company's stock had a trading volume of 817,193 shares, compared to its average volume of 4,818,747. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.16. The firm has a 50 day moving average price of $113.88 and a 200 day moving average price of $105.13. eBay Inc. has a 52 week low of $78.03 and a 52 week high of $127.74. The firm has a market cap of $53.25 billion, a P/E ratio of 26.48, a price-to-earnings-growth ratio of 2.91 and a beta of 1.30.

eBay (NASDAQ:EBAY - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The e-commerce company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The firm had revenue of $3.21 billion for the quarter, compared to analyst estimates of $3.12 billion. eBay had a return on equity of 49.20% and a net margin of 16.84%. The company's quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.36 earnings per share. Equities research analysts forecast that eBay Inc. will post 4.79 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, December 18th. Stockholders of record on Friday, December 4th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.24 annualized dividend and a dividend yield of 1.0%. eBay's dividend payout ratio is presently 27.07%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. BNP Paribas Exane upgraded shares of eBay to a "neutral" rating in a research report on Thursday, October 29th. Piper Sandler reissued an "overweight" rating and issued a $140.00 price target on shares of eBay in a research note on Thursday, October 29th. Barclays cut eBay from an "overweight" rating to an "underweight" rating in a research report on Thursday, October 29th. Mizuho set a $120.00 target price on eBay in a report on Thursday, October 29th. Finally, Cantor Fitzgerald dropped their price target on eBay from $110.00 to $106.00 and set a "neutral" rating for the company in a report on Thursday, August 6th. Seventeen equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $123.52.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Columbus Macro LLC increased its holdings in shares of eBay by 2.5% during the third quarter. Columbus Macro LLC now owns 3,838 shares of the e-commerce company's stock valued at $407,000 after acquiring an additional 93 shares in the last quarter. Conning Inc. raised its stake in shares of eBay by 5.3% in the third quarter. Conning Inc. now owns 2,083 shares of the e-commerce company's stock valued at $221,000 after buying an additional 104 shares during the period. MGO One Seven LLC grew its stake in eBay by 1.3% in the 3rd quarter. MGO One Seven LLC now owns 8,532 shares of the e-commerce company's stock valued at $905,000 after buying an additional 109 shares in the last quarter. Spire Wealth Management boosted its position in shares of eBay by 29.7% in the second quarter. Spire Wealth Management now owns 489 shares of the e-commerce company's stock valued at $55,000 after acquiring an additional 112 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its holdings in shares of eBay by 4.6% in the second quarter. B. Riley Wealth Advisors Inc. now owns 2,818 shares of the e-commerce company's stock worth $312,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 87.48% of the company's stock.

About eBay

eBay Inc. operates a global online marketplace that connects buyers and sellers. Its platform supports both auction-style listings and fixed-price sales across a broad range of categories, including electronics, fashion, collectibles, home goods and auto parts. Founded by Pierre Omidyar in 1995 as AuctionWeb, the company adopted the eBay name in 1997. It also provides services and tools for sellers, including advertising, payments and shipping features that support transactions on its marketplace. eBay serves customers and businesses in markets around the world.

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