Traders Purchase High Volume of Put Options on eBay (EBAY)
eBay Inc. (NASDAQ:EBAY) saw unusually large options trading activity on Wednesday. Stock investors bought 2,194 put options on the company. This is an increase of approximately 231% compared to the average daily volume of 663 put options.
Shares of eBay (NASDAQ:EBAY) opened at 36.35 on Friday. eBay has a 12-month low of $27.28 and a 12-month high of $37.48. The firm has a 50-day moving average of $35.78 and a 200-day moving average of $34.52. The firm has a market cap of $38.91 billion, a P/E ratio of 5.45 and a beta of 1.36.
eBay (NASDAQ:EBAY) last announced its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. eBay had a net margin of 80.93% and a return on equity of 17.50%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. On average, equities analysts forecast that eBay will post $2.00 earnings per share for the current fiscal year.
eBay declared that its Board of Directors has initiated a share repurchase program on Thursday, July 20th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In related news, VP Brian J. Doerger sold 10,450 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $36.56, for a total value of $382,052.00. Following the completion of the transaction, the vice president now owns 24,001 shares of the company’s stock, valued at $877,476.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Stephen Fisher sold 11,956 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $36.24, for a total transaction of $433,285.44. Following the completion of the transaction, the senior vice president now directly owns 89,740 shares of the company’s stock, valued at approximately $3,252,177.60. The disclosure for this sale can be found here. Insiders sold 70,238 shares of company stock valued at $2,501,547 in the last three months. 6.78% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in EBAY. BlackRock Inc. boosted its position in shares of eBay by 2,424.9% in the first quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock worth $2,095,089,000 after buying an additional 59,937,723 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of eBay by 169.5% in the first quarter. Wellington Management Group LLP now owns 37,211,205 shares of the e-commerce company’s stock worth $1,249,180,000 after buying an additional 23,404,909 shares during the last quarter. Glenview Capital Management LLC boosted its position in shares of eBay by 442.0% in the second quarter. Glenview Capital Management LLC now owns 8,905,922 shares of the e-commerce company’s stock worth $310,995,000 after buying an additional 7,262,862 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of eBay by 46.7% in the first quarter. Nordea Investment Management AB now owns 14,928,670 shares of the e-commerce company’s stock worth $501,155,000 after buying an additional 4,749,434 shares during the last quarter. Finally, Harding Loevner LP acquired a new position in shares of eBay during the second quarter worth about $128,878,000. Institutional investors own 84.89% of the company’s stock.
A number of equities analysts recently commented on the stock. Robert W. Baird reissued an “outperform” rating and issued a $38.00 price objective on shares of eBay in a research note on Sunday, August 20th. Royal Bank Of Canada reissued a “hold” rating on shares of eBay in a research note on Friday, August 18th. SunTrust Banks, Inc. started coverage on shares of eBay in a research note on Tuesday, August 15th. They issued a “hold” rating and a $38.00 price objective for the company. Mizuho reaffirmed an “underperform” rating and set a $34.00 price target on shares of eBay in a research report on Monday, August 7th. Finally, BidaskClub downgraded eBay from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. eBay has an average rating of “Hold” and an average target price of $37.05.
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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