eBay (NASDAQ:EBAY) Shares Gap Up - Here's Why

eBay Inc. (NASDAQ:EBAY - Get Free Report)'s share price gapped up before the market opened on Tuesday . The stock had previously closed at $63.64, but opened at $65.20. eBay shares last traded at $63.91, with a volume of 380,050 shares traded.

Analysts Set New Price Targets

A number of research firms have commented on EBAY. Bank of America reduced their price target on shares of eBay from $67.00 to $64.00 and set a "neutral" rating on the stock in a research report on Thursday, October 31st. Sanford C. Bernstein upgraded shares of eBay from a "market perform" rating to an "outperform" rating and set a $70.00 target price for the company in a research note on Tuesday, November 5th. StockNews.com lowered eBay from a "buy" rating to a "hold" rating in a research report on Monday, November 11th. Barclays cut their price objective on eBay from $65.00 to $64.00 and set an "overweight" rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their target price on eBay from $63.00 to $62.00 and set an "equal weight" rating on the stock in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $62.63.

eBay Stock Up 0.9 %

The business has a fifty day moving average of $63.31 and a 200 day moving average of $59.27. 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 firm has a market cap of $30.77 billion, a P/E ratio of 15.99, a P/E/G ratio of 2.20 and a beta of 1.35.

eBay Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.68%. eBay's dividend payout ratio (DPR) is presently 27.14%.

Insider Activity at eBay

In related news, SVP Cornelius Boone sold 3,989 shares of the company's stock in a transaction on Tuesday, December 17th. The shares were 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 owns 71,469 shares in the company, valued at $4,659,778.80. This represents a 5.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $66.56, for a total value of $374,400.00. Following the transaction, the chief executive officer now owns 553,666 shares in the company, valued at approximately $36,852,008.96. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,908 shares of company stock worth $2,110,731 in the last ninety days. Company insiders own 0.38% of the company's stock.

Hedge Funds Weigh In On eBay

Several institutional investors and hedge funds have recently modified their holdings of the business. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in eBay by 0.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,494 shares of the e-commerce company's stock valued at $3,418,000 after buying an additional 153 shares in the last quarter. Optas LLC raised its holdings in shares of eBay by 0.5% during the third quarter. Optas LLC now owns 34,082 shares of the e-commerce company's stock worth $2,219,000 after acquiring an additional 171 shares during the period. Davis Investment Partners LLC lifted its position in eBay by 0.8% in the 3rd quarter. Davis Investment Partners LLC now owns 23,475 shares of the e-commerce company's stock valued at $1,531,000 after acquiring an additional 180 shares in the last quarter. Arvest Investments Inc. boosted its stake in eBay by 1.2% in the 3rd quarter. Arvest Investments Inc. now owns 15,205 shares of the e-commerce company's stock worth $990,000 after purchasing an additional 183 shares during the period. Finally, Marco Investment Management LLC increased its holdings in eBay by 2.0% during the 3rd quarter. Marco Investment Management LLC now owns 10,335 shares of the e-commerce company's stock worth $673,000 after purchasing an additional 200 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors and hedge funds.

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.