Stephen J. Priest, Senior Vice President and Chief Financial Officer of eBay Inc. (NASDAQ:EBAY), a $30.76 billion market cap company whose stock has surged nearly 49% year-to-date, has reported stock transactions totaling $334,200, according to a recent SEC filing. InvestingPro data shows the company maintains impressive gross profit margins above 72%. The transactions, dated December 16, 2024, involved the sale of 5,252 shares of common stock at prices ranging from $63.50 to $63.86 per share. These sales were conducted under a pre-established Rule 10b5-1 trading plan.
In addition to the sales, the filing detailed several other transactions. On December 15, 2024, Priest acquired a total of 11,358 shares through the conversion of restricted stock units. These acquisitions were recorded at a price of $0 per share, as they were part of a vesting schedule for previously granted stock units.
Furthermore, the filing noted that on December 15, 2024, 6,106 shares were withheld for tax purposes, valued at approximately $389,807, based on a price of $63.84 per share.
Following these transactions, Priest directly holds 65,080 shares of eBay common stock.
In other recent news, eBay Inc. has expanded its stock repurchase program by an additional $3 billion, a move that underlines the company's commitment to delivering shareholder value. Bernstein research firm maintains an optimistic outlook on eBay, primarily driven by the expected growth of the company's Gross Merchandise Volume (GMV). Bernstein also forecasts that eBay's EBIT dollars will increase at a rate surpassing GMV growth, suggesting an expansion of EBIT margin as a percentage of GMV.
However, Jefferies downgraded eBay's stock rating from "Hold" to "Underperform," citing concerns over the company's core marketplace profitability. In contrast, Truist Securities raised its price target on eBay's shares, citing a positive outlook for the company's GMV growth.
eBay's GMV rose over 1% to $18.3 billion, and revenue increased by more than 3% to $2.58 billion. The company has launched a consumer-to-consumer (C2C) product initiative in the United Kingdom (TADAWUL:4280), which is projected to contribute positively to the company's revenue by the second half of 2025. These are some of the recent developments in eBay's business operations.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.