eBay (NASDAQ:EBAY) Cut to Market Perform at Sanford C. Bernstein

eBay (NASDAQ:EBAY) was downgraded by stock analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a report released on Tuesday, MarketBeat.com reports. They currently have a $65.00 price objective on the e-commerce company’s stock. Sanford C. Bernstein’s price target would indicate a potential downside of 0.96% from the stock’s current price.

Several other equities research analysts also recently weighed in on EBAY. Needham & Company LLC reissued a “buy” rating and issued a $72.00 target price on shares of eBay in a research report on Thursday, February 27th. Susquehanna increased their target price on eBay from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, March 3rd. Citigroup upped their price target on eBay from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 14th. UBS Group boosted their target price on shares of eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, February 24th. Finally, BMO Capital Markets raised their price target on shares of eBay from $59.00 to $63.00 and gave the stock a “market perform” rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $64.92.

eBay Stock Performance

eBay stock opened at $65.63 on Tuesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The stock has a 50 day moving average of $66.25 and a 200-day moving average of $64.95. The stock has a market cap of $30.58 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43. eBay has a 52 week low of $48.52 and a 52 week high of $71.61.

Insider Transactions at eBay

In related news, CEO Jamie Iannone sold 7,500 shares of the stock in a transaction dated Thursday, April 3rd. The stock was sold at an average price of $66.35, for a total value of $497,625.00. Following the completion of the sale, the chief executive officer now directly owns 590,108 shares of the company’s stock, valued at approximately $39,153,665.80. This represents a 1.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen J. Priest sold 28,060 shares of eBay stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $67.82, for a total value of $1,903,029.20. Following the transaction, the chief financial officer now directly owns 65,080 shares in the company, valued at approximately $4,413,725.60. This trade represents a 30.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,310 shares of company stock valued at $3,121,626. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of eBay

Several institutional investors have recently made changes to their positions in EBAY. Ameriprise Financial Inc. raised its holdings in shares of eBay by 12.4% during the fourth quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company’s stock worth $1,765,148,000 after acquiring an additional 3,149,934 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in shares of eBay by 25.6% in the 4th quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company’s stock valued at $692,517,000 after purchasing an additional 2,277,839 shares during the last quarter. Nordea Investment Management AB boosted its holdings in eBay by 3.8% in the fourth quarter. Nordea Investment Management AB now owns 9,151,026 shares of the e-commerce company’s stock worth $573,220,000 after purchasing an additional 335,035 shares in the last quarter. Dimensional Fund Advisors LP increased its position in eBay by 3.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company’s stock worth $435,665,000 after buying an additional 245,624 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in eBay by 17.8% during the fourth quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company’s stock valued at $421,834,000 after buying an additional 1,030,292 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors and hedge funds.

About eBay

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.