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

eBay Inc. (NASDAQ:EBAY) fell 3.1% during 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. 2,100,569 shares were traded during trading, a decline of 57% from the average session volume of 4,851,090 shares. The stock had previously closed at $67.42.

Several other research firms have also commented on EBAY. JPMorgan Chase & Co. increased their price objective on shares of eBay from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. BMO Capital Markets increased their price target on shares of eBay from $59.00 to $63.00 and gave the company a “market perform” rating in a report on Thursday, February 27th. Barclays set a $72.00 price target on eBay and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Stifel Nicolaus decreased their price objective on eBay from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Finally, StockNews.com cut eBay from a “buy” rating to a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, eBay presently has an average rating of “Hold” and a consensus price target of $65.46.

Insider Transactions at eBay

In related news, CFO Stephen J. Priest sold 1,033 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $64.93, for a total value of $67,072.69. Following the transaction, the chief financial officer now owns 65,080 shares of the company’s stock, valued at $4,225,644.40. This represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cornelius Boone sold 3,958 shares of the firm’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 owns 94,392 shares in the company, valued at $6,329,927.52. The trade was a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,616 shares of company stock valued at $710,777. 0.38% of the stock is currently owned by company insiders.

Institutional Trading of eBay

Institutional investors and hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new position in eBay during the 4th quarter valued at about $27,000. Orion Capital Management LLC bought a new position in shares of eBay during the fourth quarter valued at approximately $27,000. Pinney & Scofield Inc. purchased a new position in eBay during the fourth quarter valued at approximately $31,000. Itau Unibanco Holding S.A. bought a new position in eBay in the fourth quarter worth approximately $33,000. Finally, Quarry LP bought a new position in eBay in the third quarter worth approximately $36,000. 87.48% of the stock is currently owned by institutional investors.

eBay Stock Performance

The business has a fifty day simple moving average of $67.27 and a two-hundred day simple moving average of $65.03. The company has a market cap of $30.85 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 2.22 and a beta of 1.45. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25.

eBay Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a yield of 1.75%. This is an increase from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio (DPR) is presently 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.