eBay (NASDAQ:EBAY) Shares Down 0.6% After Analyst Downgrade

Shares of eBay Inc. (NASDAQ:EBAY) traded down 0.6% during mid-day trading on Monday after Citigroup lowered their price target on the stock from $80.00 to $79.00. Citigroup currently has a buy rating on the stock. eBay traded as low as $66.96 and last traded at $67.41. 917,672 shares were traded during trading, a decline of 81% from the average session volume of 4,940,812 shares. The stock had previously closed at $67.83.

A number of other equities analysts also recently commented on EBAY. JPMorgan Chase & Co. reduced their price objective on shares of eBay from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. UBS Group boosted their price objective on shares of eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, February 24th. Barclays set a $72.00 price target on shares of eBay and gave the stock an “overweight” rating in a research report on Thursday, February 27th. Morgan Stanley decreased their price objective on eBay from $71.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, Benchmark increased their price target on shares of eBay from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $64.79.

Insider Transactions at eBay

In other eBay 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 transaction, the chief executive officer now owns 530,998 shares of the company’s stock, valued at approximately $35,709,615.50. This represents a 1.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Cornelius Boone sold 3,958 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total transaction of $265,423.48. Following the completion of the transaction, the senior vice president now directly owns 94,392 shares in the company, valued at $6,329,927.52. This trade represents a 4.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,310 shares of company stock worth $3,121,626. Insiders own 0.38% of the company’s stock.

Institutional Trading of eBay

Large investors have recently bought and sold shares of the business. Pine Valley Investments Ltd Liability Co acquired a new position in eBay during the 3rd quarter worth approximately $203,000. World Investment Advisors LLC bought a new stake in eBay in the 3rd quarter valued at $2,947,000. Arvest Bank Trust Division acquired a new stake in shares of eBay during the 3rd quarter worth about $9,716,000. Wilmington Savings Fund Society FSB acquired a new stake in eBay during the third quarter worth approximately $241,000. Finally, Tidal Investments LLC boosted its stake in eBay by 7.5% in the 3rd quarter. Tidal Investments LLC now owns 67,209 shares of the e-commerce company’s stock valued at $4,376,000 after purchasing an additional 4,677 shares during the period. 87.48% of the stock is owned by institutional investors.

eBay Price Performance

The firm has a market capitalization of $31.42 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 2.22 and a beta of 1.43. 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 company’s 50 day moving average is $66.05 and its 200 day moving average is $64.96.

eBay Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, March 14th. This is a positive change from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 1.72%. eBay’s payout ratio is 29.07%.

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.