Bank of America Cuts eBay (NASDAQ:EBAY) Price Target to $71.00

eBay (NASDAQ:EBAY) had its price target lowered by Bank of America from $72.00 to $71.00 in a research note released on Thursday,Benzinga reports. Bank of America currently has a neutral rating on the e-commerce company’s stock.

Several other research analysts have also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $72.00 price objective on shares of eBay in a research note on Thursday, October 31st. Sanford C. Bernstein upgraded eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Tuesday, November 5th. Barclays set a $72.00 price objective on eBay and gave the stock an “overweight” rating in a research note on Thursday. Jefferies Financial Group cut eBay from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $60.00 to $52.00 in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. reduced their price target on eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, eBay has a consensus rating of “Hold” and a consensus target price of $65.33.

eBay Trading Up 2.0 %

Shares of NASDAQ:EBAY opened at $64.74 on Thursday. eBay has a 52-week low of $48.04 and a 52-week high of $71.61. The stock has a market cap of $31.01 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.22 and a beta of 1.35. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The business has a 50-day moving average price of $66.22 and a 200-day moving average price of $63.78.

eBay Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from eBay’s previous quarterly dividend of $0.27. eBay’s payout ratio is currently 29.07%.

Insider Activity at eBay

In related news, SVP Cornelius Boone sold 3,989 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $65.20, for a total value of $260,082.80. Following the sale, the senior vice president now owns 71,469 shares in the company, valued at approximately $4,659,778.80. The trade was a 5.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction on 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 owns 531,167 shares in the company, valued at $33,575,066.07. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,149 shares of company stock worth $1,746,065. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On eBay

Institutional investors and hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of eBay in the 4th quarter valued at $27,000. Orion Capital Management LLC acquired a new position in eBay during the 4th quarter worth $27,000. Pinney & Scofield Inc. acquired a new position in eBay during the 4th quarter worth $31,000. Itau Unibanco Holding S.A. acquired a new position in eBay during the 4th quarter worth $33,000. Finally, Quarry LP acquired a new position in eBay during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

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.