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

Shares of eBay Inc. (NASDAQ:EBAY) gapped down before the market opened on Thursday after Bank of America lowered their price target on the stock from $72.00 to $71.00. The stock had previously closed at $69.14, but opened at $64.29. Bank of America currently has a neutral rating on the stock. eBay shares last traded at $61.76, with a volume of 2,556,812 shares.

Several other equities analysts have also recently issued reports on EBAY. Morgan Stanley raised their price target on eBay from $70.00 to $72.00 and gave the company an “overweight” rating in a report on Monday, January 13th. JMP Securities reiterated a “market perform” rating on shares of eBay in a report on Monday, December 16th. UBS Group raised their price target on eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a report on Monday. Wedbush started coverage on eBay in a report on Monday, December 9th. They set a “neutral” rating and a $70.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $64.21.

Insider Buying and Selling

In related news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $67.25, for a total transaction of $378,281.25. Following the completion of the sale, the chief executive officer now directly owns 530,998 shares in the company, valued at $35,709,615.50. This represents a 1.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen J. Priest sold 5,252 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $63.63, for a total value of $334,184.76. Following the sale, the chief financial officer now owns 65,080 shares of the company’s stock, valued at approximately $4,141,040.40. This represents a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,149 shares of company stock valued at $1,746,065. 0.38% of the stock is owned by insiders.

Institutional Investors Weigh In On eBay

Several large investors have recently added to or reduced their stakes in EBAY. Golden State Wealth Management LLC acquired a new stake in eBay in the fourth quarter valued at approximately $27,000. Orion Capital Management LLC acquired a new stake in eBay in the fourth quarter valued at approximately $27,000. Pinney & Scofield Inc. acquired a new stake in eBay in the fourth quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new stake in eBay in the fourth quarter valued at approximately $33,000. Finally, Quarry LP acquired a new stake in eBay in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 87.48% of the company’s stock.

eBay Stock Down 9.8 %

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The stock has a 50 day simple moving average of $66.24 and a 200 day simple moving average of $63.67. The stock has a market cap of $29.87 billion, a price-to-earnings ratio of 15.66, a PEG ratio of 2.22 and a beta of 1.35.

eBay Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.86%. This is a positive change from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio (DPR) is currently 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.