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

eBay Inc. (NASDAQ:EBAY)’s share 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 recently issued reports about the company. Deutsche Bank Aktiengesellschaft lowered their price target on eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Robert W. Baird lowered their target price on eBay from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Benchmark boosted their price target on eBay from $65.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America lowered their price objective on shares of eBay from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 target price on shares of eBay in a research report on Thursday. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $65.33.

Insider Buying and Selling at eBay

In other eBay news, CFO Stephen J. Priest sold 1,033 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $64.93, for a total transaction of $67,072.69. Following the completion of the transaction, the chief financial officer now owns 65,080 shares in the company, valued at $4,225,644.40. This trade represents a 1.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $67.25, for a total value of $378,281.25. Following the sale, the chief executive officer now directly owns 530,998 shares in the company, 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. Insiders sold a total of 27,149 shares of company stock valued at $1,746,065 in the last three months. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On eBay

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Integrated Advisors Network LLC bought a new stake in eBay during the fourth quarter worth approximately $210,000. Ameriflex Group Inc. purchased a new position in shares of eBay in the 4th quarter worth approximately $38,000. Ascent Group LLC increased its position in shares of eBay by 8.2% during the 4th quarter. Ascent Group LLC now owns 13,450 shares of the e-commerce company’s stock valued at $833,000 after purchasing an additional 1,024 shares during the last quarter. Mackenzie Financial Corp raised its holdings in eBay by 17.4% during the 4th quarter. Mackenzie Financial Corp now owns 105,665 shares of the e-commerce company’s stock valued at $6,546,000 after buying an additional 15,639 shares during the period. Finally, Forum Financial Management LP lifted its position in eBay by 43.2% in the fourth quarter. Forum Financial Management LP now owns 4,680 shares of the e-commerce company’s stock worth $290,000 after buying an additional 1,411 shares during the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

eBay Stock Performance

The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $31.01 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.22 and a beta of 1.35. The business has a 50-day moving average of $66.22 and a 200-day moving average of $63.73.

eBay Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, March 14th. This is a boost from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.79%. eBay’s payout ratio 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.