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

Shares of eBay Inc. (NASDAQ:EBAY) gapped down prior to trading on Thursday after Bank of America lowered their price target on the stock from $72.00 to $71.00. The stock had previously closed at $69.14, but opened at $64.29. Bank of America currently has a neutral 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 have also commented on EBAY. JPMorgan Chase & Co. dropped their price target on eBay from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. UBS Group lifted their price target on eBay from $66.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday. Wedbush assumed coverage on eBay in a report on Monday, December 9th. They set a “neutral” rating and a $70.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of eBay in a report on Thursday, October 31st. Finally, Truist Financial lifted their price target on eBay from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, eBay has a consensus rating of “Hold” and an average target price of $64.21.

Insiders Place Their Bets

In other news, SVP Cornelius Boone sold 3,989 shares of the business’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $65.20, for a total value of $260,082.80. Following the completion of the sale, the senior vice president now owns 71,469 shares of the company’s stock, valued at approximately $4,659,778.80. The trade was a 5.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $63.21, for a total value of $355,556.25. Following the completion of the sale, the chief executive officer now directly owns 531,167 shares of the company’s stock, valued at approximately $33,575,066.07. 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 valued at $1,746,065 over the last 90 days. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Group Ltd. purchased a new position in shares of eBay during the 3rd quarter worth approximately $543,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of eBay in the 3rd quarter worth approximately $264,000. PFG Investments LLC purchased a new stake in shares of eBay in the 3rd quarter worth approximately $320,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of eBay by 2.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 52,517 shares of the e-commerce company’s stock worth $3,419,000 after buying an additional 1,241 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of eBay by 9.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 321,112 shares of the e-commerce company’s stock worth $20,908,000 after buying an additional 28,603 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.

eBay Price Performance

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 company has a market cap of $29.87 billion, a PE ratio of 15.66, a P/E/G ratio of 2.22 and a beta of 1.35. The firm has a 50 day moving average of $66.24 and a two-hundred day moving average of $63.67.

eBay Increases Dividend

The business 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 $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.86%. This is an increase from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio is presently 27.14%.

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.