eBay (NASDAQ:EBAY) Downgraded by Jefferies Financial Group to “Underperform”

Jefferies Financial Group cut shares of eBay (NASDAQ:EBAY) from a hold rating to an underperform rating in a report issued on Tuesday morning, MarketBeat.com reports. They currently have $52.00 price objective on the e-commerce company’s stock, down from their previous price objective of $60.00.

A number of other research firms also recently commented on EBAY. Truist Financial increased their target price on eBay from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 target price on shares of eBay in a report on Monday, October 7th. Citigroup upped their target price on shares of eBay from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, TD Cowen lifted their price target on eBay from $45.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.63.

eBay Trading Down 2.9 %

Shares of EBAY stock opened at $63.23 on Tuesday. The stock’s 50-day moving average price is $63.54 and its 200-day moving average price is $58.91. eBay has a 12-month low of $40.16 and a 12-month high of $67.80. The stock has a market capitalization of $30.29 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.67 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, November 29th. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. eBay’s dividend payout ratio is currently 27.14%.

Insider Buying and Selling

In related news, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction of $256,760.14. Following the transaction, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. This trade represents a 5.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the sale, the chief financial officer now owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. This represents a 26.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,641 shares of company stock valued at $3,370,974 over the last three months. 0.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in EBAY. Tortoise Investment Management LLC boosted its position in eBay by 894.2% during the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after purchasing an additional 465 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of eBay during the second quarter valued at about $29,000. Quarry LP bought a new stake in shares of eBay in the 3rd quarter valued at about $36,000. USA Financial Formulas purchased a new position in shares of eBay in the 3rd quarter worth approximately $38,000. Finally, Gradient Investments LLC raised its stake in shares of eBay by 86.3% during the 2nd quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock worth $33,000 after acquiring an additional 284 shares in the last quarter. 87.48% of the stock is owned by institutional investors.

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.