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

eBay Inc. (NASDAQ:EBAY)’s share price gapped down before the market opened on Thursday after Stifel Nicolaus lowered their price target on the stock from $64.00 to $63.00. The stock had previously closed at $69.14, but opened at $64.29. Stifel Nicolaus currently has a hold rating on the stock. eBay shares last traded at $61.76, with a volume of 2,556,812 shares changing hands.

EBAY has been the topic of several other research reports. Piper Sandler increased their target price on shares of eBay from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Truist Financial raised their price objective on eBay from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on eBay from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Thursday. JMP Securities restated a “market perform” rating on shares of eBay in a report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $65.33.

Insider Transactions at eBay

In other news, SVP Cornelius Boone sold 3,989 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $65.20, for a total transaction 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.38, for a total transaction of $350,887.50. Following the completion of the sale, the chief executive officer now directly owns 542,248 shares in the company, valued at $33,825,430.24. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,149 shares of company stock valued at $1,746,065. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On eBay

Several hedge funds have recently bought and sold shares of EBAY. Integrated Advisors Network LLC bought a new position in eBay during the 4th quarter valued at approximately $210,000. Ameriflex Group Inc. purchased a new stake in shares of eBay in the fourth quarter worth $38,000. Ascent Group LLC increased its holdings in shares of eBay by 8.2% during the fourth quarter. Ascent Group LLC now owns 13,450 shares of the e-commerce company’s stock valued at $833,000 after acquiring an additional 1,024 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of eBay by 17.4% in the 4th quarter. Mackenzie Financial Corp now owns 105,665 shares of the e-commerce company’s stock worth $6,546,000 after purchasing an additional 15,639 shares during the last quarter. Finally, Forum Financial Management LP boosted its stake in eBay by 43.2% in the 4th quarter. Forum Financial Management LP now owns 4,680 shares of the e-commerce company’s stock worth $290,000 after purchasing an additional 1,411 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.

eBay Trading Down 8.2 %

The stock’s 50 day moving average is $66.23 and its 200-day moving average is $63.66. The company has a market cap of $30.41 billion, a P/E ratio of 15.95, a PEG ratio of 2.22 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14.

eBay Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.29 per share. This is a boost from eBay’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.83%. 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.