Sanford C. Bernstein Upgrades eBay (NASDAQ:EBAY) to Outperform

Sanford C. Bernstein upgraded shares of eBay (NASDAQ:EBAY) from a market perform rating to an outperform rating in a research report released on Tuesday, MarketBeat reports. They currently have $70.00 price target on the e-commerce company’s stock.

Several other equities analysts have also issued reports on the company. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of eBay in a research note on Monday, October 7th. Evercore ISI lifted their price objective on shares of eBay from $47.00 to $53.00 and gave the stock an “in-line” rating in a research report on Thursday, August 1st. Wolfe Research initiated coverage on shares of eBay in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Daiwa America upgraded shares of eBay to a “hold” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. cut their price target on shares of eBay from $60.00 to $58.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $62.87.

eBay Stock Down 0.2 %

Shares of NASDAQ EBAY opened at $61.89 on Tuesday. The stock has a market capitalization of $29.65 billion, a PE ratio of 15.55, a price-to-earnings-growth ratio of 1.99 and a beta of 1.34. 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 has a 12-month low of $38.60 and a 12-month high of $67.80. The stock’s fifty day simple moving average is $63.24 and its two-hundred day simple moving average is $57.11.

eBay Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.75%. The ex-dividend date of this dividend is Friday, November 29th. eBay’s payout ratio is 27.14%.

Insider Buying and Selling at eBay

In other news, SVP Cornelius Boone sold 3,974 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the sale, the senior vice president now owns 70,113 shares in the company, valued at $4,530,000.93. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other eBay news, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the transaction, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the sale, the chief financial officer now directly owns 70,332 shares in the company, valued at $4,494,918.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,016 shares of company stock worth $3,015,417. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of eBay by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock valued at $3,321,403,000 after acquiring an additional 4,524,934 shares during the period. Ameriprise Financial Inc. grew its holdings in eBay by 17.6% in the second quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock valued at $1,394,797,000 after purchasing an additional 3,880,649 shares during the period. Mirova US LLC increased its position in shares of eBay by 2.1% in the second quarter. Mirova US LLC now owns 9,170,829 shares of the e-commerce company’s stock valued at $492,657,000 after buying an additional 189,505 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of eBay by 12.5% during the 2nd quarter. Victory Capital Management Inc. now owns 7,536,843 shares of the e-commerce company’s stock worth $404,879,000 after buying an additional 838,969 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of eBay by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,723,503 shares of the e-commerce company’s stock worth $361,159,000 after buying an additional 530,941 shares during the period. Hedge funds and other institutional investors own 87.48% of the company’s stock.

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.