eBay (NASDAQ:EBAY) Reaches New 12-Month High – Should You Buy?

Shares of eBay Inc. (NASDAQ:EBAY) hit a new 52-week high during trading on Wednesday . The company traded as high as $70.86 and last traded at $70.84, with a volume of 4249226 shares traded. The stock had previously closed at $63.17.

Analyst Ratings Changes

EBAY has been the topic of a number of research reports. Jefferies Financial Group downgraded shares of eBay from a “hold” rating to an “underperform” rating and cut their target price for the company from $60.00 to $52.00 in a research report on Tuesday, December 10th. Barclays cut their price objective on eBay from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. JMP Securities reissued a “market perform” rating on shares of eBay in a research report on Monday, December 16th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. lowered their price target on shares of eBay from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $62.92.

eBay Stock Performance

The company has a 50-day moving average price of $63.08 and a two-hundred day moving average price of $60.48. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $33.24 billion, a PE ratio of 17.44, a PEG ratio of 2.20 and a beta of 1.35.

eBay Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.27 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.08 annualized dividend and a yield of 1.56%. eBay’s dividend payout ratio (DPR) is presently 27.14%.

Insider Buying and Selling at eBay

In other news, CFO Stephen J. Priest sold 1,167 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total value of $77,757.21. Following the transaction, the chief financial officer now owns 65,079 shares in the company, valued at approximately $4,336,213.77. This trade represents a 1.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cornelius Boone sold 3,989 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $65.20, for a total value of $260,082.80. Following the completion of the sale, the senior vice president now directly owns 71,469 shares of the company’s stock, valued at $4,659,778.80. The trade was a 5.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,283 shares of company stock worth $1,715,462 over the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in eBay by 17.6% in the second quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock worth $1,394,797,000 after buying an additional 3,880,649 shares during the last quarter. Wellington Management Group LLP purchased a new position in eBay in the 3rd quarter worth approximately $105,506,000. Altshuler Shaham Ltd purchased a new stake in eBay during the 2nd quarter valued at $71,593,000. Renaissance Technologies LLC purchased a new stake in shares of eBay during the second quarter valued at $49,924,000. Finally, Pacer Advisors Inc. grew its stake in shares of eBay by 11.5% in the second quarter. Pacer Advisors Inc. now owns 6,573,579 shares of the e-commerce company’s stock worth $353,133,000 after acquiring an additional 679,528 shares during the period. 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.