eBay (NASDAQ:EBAY) Reaches New 12-Month High – Still a Buy?

eBay Inc. (NASDAQ:EBAY)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $71.61 and last traded at $71.32, with a volume of 1143797 shares. The stock had previously closed at $70.93.

Analyst Ratings Changes

Several brokerages recently commented on EBAY. Mizuho upped their price target on shares of eBay from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Wedbush initiated coverage on eBay in a research note on Monday, December 9th. They set a “neutral” rating and a $70.00 target price on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on eBay from $70.00 to $63.00 and set a “buy” rating for the company in a report on Friday, November 1st. Jefferies Financial Group lowered eBay from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $60.00 to $52.00 in a research note on Tuesday, December 10th. Finally, StockNews.com lowered shares of eBay from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $63.38.

eBay Stock Performance

The stock has a market capitalization of $33.90 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 2.22 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average of $66.14 and a 200-day moving average of $63.63.

Insider Activity

In other news, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $63.21, for a total value of $355,556.25. Following the completion of the transaction, the chief executive officer now owns 531,167 shares of the company’s stock, valued at $33,575,066.07. The trade was a 1.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Stephen J. Priest sold 5,252 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $63.63, for a total value of $334,184.76. Following the completion of the transaction, the chief financial officer now directly owns 65,080 shares of the company’s stock, valued at $4,141,040.40. The trade was a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,149 shares of company stock valued at $1,746,065. Company insiders own 0.38% of the company’s stock.

Institutional Trading of eBay

A number of institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC acquired a new stake in shares of eBay in the fourth quarter valued at about $27,000. Orion Capital Management LLC purchased a new position in eBay in the 4th quarter worth approximately $27,000. Pinney & Scofield Inc. acquired a new position in shares of eBay during the 4th quarter worth approximately $31,000. Itau Unibanco Holding S.A. purchased a new stake in shares of eBay in the fourth quarter valued at approximately $33,000. Finally, Quarry LP purchased a new stake in eBay in the 3rd quarter valued at $36,000. 87.48% of the stock is owned by institutional investors and hedge funds.

eBay Company Profile

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.