Short Interest in eBay Inc. (NASDAQ:EBAY) Expands By 20.4%

eBay Inc. (NASDAQ:EBAY) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 30,630,000 shares, a growth of 20.4% from the August 15th total of 25,450,000 shares. Based on an average trading volume of 4,450,000 shares, the days-to-cover ratio is presently 6.9 days. Approximately 6.3% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

EBAY has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their price target on eBay from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Benchmark boosted their target price on shares of eBay from $58.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and set a $64.00 price target (up from $58.00) on shares of eBay in a research report on Thursday, August 1st. The Goldman Sachs Group raised their price objective on eBay from $38.00 to $46.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Finally, Wells Fargo & Company cut their target price on eBay from $57.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.90.

eBay Trading Up 0.4 %

eBay stock traded up $0.26 during trading hours on Friday, reaching $63.44. 5,556,646 shares of the company’s stock were exchanged, compared to its average volume of 5,532,868. The firm’s 50 day simple moving average is $56.55 and its 200 day simple moving average is $53.54. eBay has a twelve month low of $37.17 and a twelve month high of $63.90. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $31.02 billion, a PE ratio of 12.64, a PEG ratio of 2.35 and a beta of 1.32.

eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.88. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.53 billion. eBay had a return on equity of 29.69% and a net margin of 26.41%. Research analysts predict that eBay will post 3.86 earnings per share for the current year.

eBay Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.27 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.08 annualized dividend and a yield of 1.70%. eBay’s dividend payout ratio (DPR) is 21.51%.

Insiders Place Their Bets

In related news, SVP Edward O. Garcia sold 986 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $52.85, for a total value of $52,110.10. Following the completion of the sale, the senior vice president now directly owns 37,126 shares in the company, valued at approximately $1,962,109.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in eBay in the 2nd quarter worth about $26,000. Tortoise Investment Management LLC raised its position in shares of eBay by 894.2% in the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after purchasing an additional 465 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of eBay during the 2nd quarter valued at approximately $29,000. Washington Trust Advisors Inc. bought a new position in eBay in the 1st quarter worth approximately $30,000. Finally, LRI Investments LLC bought a new position in eBay in the 1st quarter worth about $29,000. 87.48% of the stock is owned by hedge funds and other institutional investors.

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.