eBay (NASDAQ:EBAY) Stock Price Down 3.1% After Analyst Downgrade

eBay Inc. (NASDAQ:EBAY)’s share price traded down 3.1% during mid-day trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $64.00 to $62.00. Wells Fargo & Company currently has an equal weight rating on the stock. eBay traded as low as $65.26 and last traded at $65.35. Approximately 2,100,569 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 4,851,090 shares. The stock had previously closed at $67.42.

EBAY has been the topic of several other reports. Jefferies Financial Group lowered shares of eBay from a “hold” rating to an “underperform” rating and cut their price target for the stock from $60.00 to $52.00 in a report on Tuesday, December 10th. BMO Capital Markets boosted their target price on eBay from $59.00 to $63.00 and gave the stock a “market perform” rating in a research note on Thursday, February 27th. Susquehanna upped their target price on eBay from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Stifel Nicolaus lowered their price target on eBay from $64.00 to $63.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Morgan Stanley boosted their price target on eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $65.46.

Insiders Place Their Bets

In related news, CEO Jamie Iannone sold 5,625 shares of the 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 completion of the sale, the chief executive officer now owns 530,998 shares of the company’s stock, valued at approximately $35,709,615.50. This trade represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cornelius Boone sold 3,958 shares of the business’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total value of $265,423.48. Following the transaction, the senior vice president now directly owns 94,392 shares in the company, valued at $6,329,927.52. This trade represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,616 shares of company stock valued at $710,777 in the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in EBAY. Golden State Wealth Management LLC purchased a new stake in eBay in the fourth quarter valued at $27,000. Orion Capital Management LLC purchased a new stake in eBay in the 4th quarter valued at about $27,000. Pinney & Scofield Inc. acquired a new position in eBay in the fourth quarter valued at about $31,000. Itau Unibanco Holding S.A. acquired a new position in eBay in the fourth quarter valued at about $33,000. Finally, Quarry LP purchased a new position in eBay during the third quarter worth about $36,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

eBay Trading Down 1.8 %

The business’s 50-day simple moving average is $67.27 and its two-hundred day simple moving average is $65.03. The firm has a market capitalization of $30.85 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 2.22 and a beta of 1.45. 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 business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.75%. The ex-dividend date was Friday, March 14th. This is an increase from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio (DPR) is 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.