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

eBay Inc. (NASDAQ:EBAY) gapped down before the market opened on Thursday after Bank of America lowered their price target on the stock from $67.00 to $64.00. The stock had previously closed at $62.63, but opened at $58.88. Bank of America currently has a neutral rating on the stock. eBay shares last traded at $57.22, with a volume of 1,313,863 shares trading hands.

A number of other analysts have also commented on the stock. Stifel Nicolaus lifted their price target on shares of eBay from $56.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday. TD Cowen raised their price target on eBay from $45.00 to $54.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Morgan Stanley increased their target price on eBay from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Wells Fargo & Company upped their price target on shares of eBay from $55.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on eBay from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, eBay has a consensus rating of “Hold” and a consensus price target of $62.23.

Insider Transactions at eBay

In other eBay news, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total value of $77,757.21. Following the completion of the transaction, the chief financial officer now owns 65,079 shares of the company’s stock, valued at approximately $4,336,213.77. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $66.56, for a total transaction of $374,400.00. Following the completion of the transaction, the chief executive officer now directly owns 553,666 shares of the company’s stock, valued at $36,852,008.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total transaction of $77,757.21. Following the completion of the sale, the chief financial officer now directly owns 65,079 shares in the company, valued at $4,336,213.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,391 shares of company stock valued at $2,678,424 in the last 90 days. 0.38% of the stock is currently owned by company insiders.

Institutional Trading of eBay

Institutional investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in eBay during the 2nd quarter worth $26,000. Tortoise Investment Management LLC lifted its stake in shares of eBay by 894.2% in the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after buying an additional 465 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in eBay during the 2nd quarter valued at about $29,000. Washington Trust Advisors Inc. purchased a new stake in shares of eBay in the first quarter valued at approximately $30,000. Finally, LRI Investments LLC purchased a new stake in shares of eBay in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

eBay Stock Performance

The firm has a 50 day moving average price of $63.03 and a 200-day moving average price of $56.67. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $29.17 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 2.45 and a beta of 1.32.

eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share for the quarter, hitting the consensus estimate of $0.88. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.53 billion. eBay had a net margin of 26.41% and a return on equity of 29.69%. As a group, sell-side analysts expect that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.86%. eBay’s dividend payout ratio (DPR) is presently 21.51%.

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.