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

eBay Inc. (NASDAQ:EBAY)’s stock price gapped down prior to trading 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.

A number of other analysts also recently issued reports on EBAY. Truist Financial lifted their price target on eBay from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Needham & Company LLC reiterated a “buy” rating and set a $72.00 target price on shares of eBay in a research report on Thursday. Benchmark increased their price target on shares of eBay from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group raised their price objective on shares of eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. Finally, Wells Fargo & Company upped their target price on shares of eBay from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten 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 an average target price of $65.33.

Insider Activity

In related news, SVP Cornelius Boone sold 3,989 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.20, for a total value of $260,082.80. Following the completion of the transaction, the senior vice president now directly owns 71,469 shares of the company’s stock, valued at $4,659,778.80. This represents a 5.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $67.25, for a total transaction of $378,281.25. Following the completion of the sale, the chief executive officer now owns 530,998 shares of the company’s stock, valued at $35,709,615.50. This trade represents a 1.05 % 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 Inflows and Outflows

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

eBay Price Performance

The firm’s fifty day simple moving average is $66.22 and its 200-day simple moving average is $63.73. The firm has a market capitalization of $31.01 billion, a PE ratio of 16.27, a PEG ratio of 2.22 and a beta of 1.35. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.79%. This is an increase from eBay’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 14th. eBay’s dividend payout ratio (DPR) is currently 29.07%.

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.