Intel stock extends gains after report of possible U.S. government stake
SAN JOSE, CA — Cornelius Boone, eBay Inc.’s (NASDAQ:EBAY) Senior Vice President and Chief People Officer, recently sold a significant portion of the company’s stock. According to a Form 4 filing with the Securities and Exchange Commission, Boone sold 3,958 shares of eBay common stock on March 18, valued at approximately $265,423. The transaction comes as eBay, currently valued at $31 billion with an impressive 72% gross profit margin, maintains a GOOD financial health rating according to InvestingPro analysis.
The shares were sold at a weighted average price of $67.06, with transaction prices ranging from $66.46 to $67.33. This sale was conducted under a Rule 10b5-1 trading plan that Boone had adopted on March 15, 2024. Following this transaction, Boone retains ownership of 94,392 eBay shares. The stock currently trades at a P/E ratio of 16.7, and InvestingPro analysis suggests the stock is slightly undervalued, with 8 additional key insights available to subscribers.
This sale is part of Boone’s pre-established trading plan, providing a structured approach to manage his stock holdings in the company. Despite the insider sale, eBay’s management has been actively buying back shares, demonstrating confidence in the company’s future prospects.
In other recent news, eBay’s fourth-quarter earnings report showed an earnings per share (EPS) of $1.25, which surpassed expectations by $0.05 and marked a 16% year-over-year increase. However, revenue for the quarter was $2,579 million, a modest 1% increase from the previous year, falling slightly short of consensus estimates by $3 million. In response to these financial results, several analyst firms have adjusted their price targets and ratings for eBay. Susquehanna raised its price target to $65 from $60 while maintaining a Neutral rating, citing macroeconomic pressures and currency fluctuations affecting the first-quarter outlook. Evercore ISI modestly increased its price target to $63, maintaining an In Line rating, and noted eBay’s fiscal year 2025 outlook for low single-digit growth in revenue and GMV. CFRA maintained a Buy rating with a $76 price target, highlighting potential growth from new initiatives like listings on Facebook (NASDAQ:META) Marketplace and the acquisition of Caramel. Meanwhile, Benchmark lifted its price target to $75 from $65, also maintaining a Buy rating, while emphasizing eBay’s performance exceeding key performance indicators for 2024. Stifel, on the other hand, maintained a Hold rating with a $63 target, pointing to challenges in discretionary eCommerce and eBay’s strategic adaptations. These developments reflect diverse analyst perspectives on eBay’s financial health and strategic direction amid ongoing economic uncertainties.
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