SSgA Funds Management, Inc. recently announced the acquisition of new stake in eBay Inc. (NASDAQ:EBAY). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.65% to 23.22 million shares with purchase of 0.15 million shares. This fresh investment now brings its stake to 4.36% valued currently at $1.03 billion. In addition, Geode Capital Management LLC raised its holdings by 88588.0 to 11.76 million shares. And Independent Franchise Partners LL has lifted its position by 0.18% or 18880.0 shares – to 10.54 million shares.
With over 4.33 million eBay Inc. (EBAY) shares trading Tuesday and a closing price of $43.51 on the day, the dollar volume was approximately $188.6 million. Currently, there are 534.00M common shares owned by the public and among those 530.38M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 31 analysts who have offered their price forecasts for EBAY have a consensus price objective of $49.10. The analysts have set the share’s price value over the next 12 months at a high of $60.00 and a low of $34.00. The average price target is 10.75% above its recent price level and a downside to the estimated low will see the stock lose -27.97% over that period. But an upside of 27.48% will see the stock hit the forecast high price target while median target price for the stock is $48.00.
Insiders at the company have transacted a total of 219 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 116 of these insider trades were purchases, accounting for 1,006,542 shares. Insider sales of the common stock occurred on 103 occasions, with total insider shares sold totaling 523,757 shares.
The top 3 mutual fund holders in eBay Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market ETF owns 16.63 million shares of the company’s stock, all valued at over $740.33 million. The company sold 18756.0 shares recently to bring their total holdings to about 3.13% of the shares outstanding. Vanguard 500 Index Fund bought 71835.0 shares to see its total holdings expand to 12.8 million shares valued at over $569.91 million and representing 2.41% of the shares outstanding. Vanguard Mid Cap Index Fund sold 20337.0 shares to bring its total holdings to over 12.37 million shares at a value of $550.55 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.32% of the shares outstanding.
Shares of eBay Inc. (NASDAQ: EBAY) opened at $43.40, down -$0.11 from a prior closing price of $43.51. The company’s stock has a 5-day price change of -1.76% and -3.57% over the past three months. EBAY shares are trading 4.92% year to date (YTD), with the 12-month market performance down to -3.53% lower. It has a 12-month low price of $35.92 and touched a high of $52.23 over the same period. EBAY has an average intraday trading volume of 5.17 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.52%, -3.00%, and -2.77% respectively.
Institutional ownership of eBay Inc. (NASDAQ: EBAY) shares accounts for 90.00% of the company’s 534.00M shares outstanding. Mutual fund holders own 39.07%, while other institutional holders and individual stakeholders account for 51.29% and 11.78% respectively.
It has a market capitalization of $22.99B and a beta (3y monthly) value of 1.35. The stock’s trailing 12-month PE ratio is 17.54, while the earnings-per-share (ttm) stands at $2.48. The company has a PEG of 2.13 and a Quick Ratio of 2.50 with the debt-to-equity ratio at 1.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.67% over the week and 1.72% over the month.
Analysts forecast that eBay Inc. (EBAY) will achieve an EPS of $1 for the current quarter, $1.05 for the next quarter and $4.46 for 2024. The lowest estimate earnings-per-share for the quarter is $0.97 while analysts give the company a high EPS estimate of $1.03. Comparatively, EPS for the current quarter was $1 a year ago. Earnings per share for the fiscal year are expected to decrease by -700.70%, and 6.69% over the next financial year. EPS should grow at an annualized rate of 8.26% over the next five years, compared to -25.90% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 31 brokerage firm advisors rate eBay Inc. (EBAY) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 20 of the 31 advise that investors “hold,” and 3 rated it as a “Sell.”
Looking at the support for the EBAY, a number of firms have released research notes about the stock. Credit Suisse stated their Outperform rating for the stock in a research note on July 24, 2023, with the firm’s price target at $56-$57.