eBay (NASDAQ:EBAY) Shares Gap Down on Analyst Downgrade

eBay Inc. (NASDAQ:EBAY)’s stock price gapped down before the market opened on Thursday after Stifel Nicolaus lowered their price target on the stock from $64.00 to $63.00. The stock had previously closed at $69.14, but opened at $64.29. Stifel Nicolaus currently has a hold rating on the stock. eBay shares last traded at $61.76, with a volume of 2,556,812 shares changing hands.

Other equities analysts have also issued research reports about the company. Wedbush started coverage on eBay in a research report on Monday, December 9th. They issued a “neutral” rating and a $70.00 target price for the company. UBS Group boosted their price objective on shares of eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a report on Monday. Benchmark increased their price objective on shares of eBay from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Thursday. Truist Financial lifted their target price on shares of eBay from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Citigroup boosted their target price on shares of eBay from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $65.33.

Insiders Place Their Bets

In other eBay news, CFO Stephen J. Priest sold 5,252 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $63.63, for a total transaction of $334,184.76. Following the sale, the chief financial officer now directly owns 65,080 shares of the company’s stock, valued at $4,141,040.40. This trade represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $67.25, for a total value of $378,281.25. Following the completion of the transaction, the chief executive officer now directly owns 530,998 shares of the company’s stock, valued at approximately $35,709,615.50. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,149 shares of company stock worth $1,746,065 over the last three months. 0.38% of the stock is currently owned by company insiders.

Institutional Trading of eBay

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in eBay by 2.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 53,580 shares of the e-commerce company’s stock valued at $3,489,000 after buying an additional 1,063 shares in the last quarter. Kestra Investment Management LLC boosted its position in shares of eBay by 172.5% during the fourth quarter. Kestra Investment Management LLC now owns 11,175 shares of the e-commerce company’s stock worth $692,000 after acquiring an additional 7,074 shares during the last quarter. Trustmark National Bank Trust Department bought a new position in shares of eBay during the third quarter worth $1,307,000. Prospera Financial Services Inc grew its stake in eBay by 794.2% during the third quarter. Prospera Financial Services Inc now owns 70,616 shares of the e-commerce company’s stock valued at $4,598,000 after acquiring an additional 62,719 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in eBay by 5,091.9% in the 4th quarter. Van ECK Associates Corp now owns 142,051 shares of the e-commerce company’s stock valued at $8,800,000 after acquiring an additional 139,315 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.

eBay Stock Performance

The firm’s 50 day simple moving average is $66.23 and its 200 day simple moving average is $63.66. The firm has a market cap of $30.41 billion, a PE ratio of 15.95, a PEG 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.

eBay Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.29 dividend. This is an increase from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Friday, March 14th. eBay’s payout ratio is currently 27.14%.

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.