JPMorgan Chase & Co. Cuts eBay (NASDAQ:EBAY) Price Target to $58.00

eBay (NASDAQ:EBAY) had its price objective lowered by JPMorgan Chase & Co. from $60.00 to $58.00 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the e-commerce company’s stock.

Several other research firms have also recently weighed in on EBAY. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price objective on shares of eBay in a research report on Thursday, October 31st. Stifel Nicolaus upped their price target on eBay from $56.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Barclays reduced their price objective on eBay from $65.00 to $64.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Evercore ISI lifted their target price on eBay from $47.00 to $53.00 and gave the company an “in-line” rating in a research note on Thursday, August 1st. Finally, TD Cowen increased their price target on shares of eBay from $45.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $62.22.

eBay Stock Up 3.6 %

Shares of eBay stock opened at $60.23 on Friday. eBay has a 12-month low of $37.17 and a 12-month high of $67.80. The stock’s fifty day moving average is $63.01 and its 200-day moving average is $56.89. The firm has a market capitalization of $28.85 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.90 and a beta of 1.34. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Friday, November 29th. eBay’s dividend payout ratio is 27.14%.

Insider Buying and Selling

In other eBay news, CFO Stephen J. Priest sold 25,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the completion of the transaction, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other eBay news, CFO Stephen J. Priest sold 25,000 shares of eBay stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the transaction, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Cornelius Boone sold 3,974 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the sale, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,391 shares of company stock valued at $2,678,424. Company insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in EBAY. Keystone Financial Services grew its position in eBay by 2.2% during the third quarter. Keystone Financial Services now owns 15,247 shares of the e-commerce company’s stock worth $993,000 after buying an additional 332 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of eBay in the 3rd quarter worth approximately $164,000. Arvest Investments Inc. grew its holdings in shares of eBay by 1.2% during the 3rd quarter. Arvest Investments Inc. now owns 15,205 shares of the e-commerce company’s stock worth $990,000 after purchasing an additional 183 shares in the last quarter. River Global Investors LLP increased its position in shares of eBay by 4.4% during the third quarter. River Global Investors LLP now owns 35,071 shares of the e-commerce company’s stock valued at $2,284,000 after purchasing an additional 1,468 shares during the period. Finally, Alan B Lancz & Associates Inc. bought a new stake in shares of eBay during the third quarter valued at approximately $226,000. Institutional investors and hedge funds 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.