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

Shares of eBay Inc. (NASDAQ:EBAY) gapped down before the market opened on Thursday after UBS Group lowered their price target on the stock from $72.00 to $66.00. The stock had previously closed at $62.63, but opened at $58.88. UBS Group currently has a neutral rating on the stock. eBay shares last traded at $57.22, with a volume of 1,313,863 shares.

A number of other equities research analysts have also recently issued reports on EBAY. Citigroup lifted their price target on shares of eBay from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wells Fargo & Company boosted their target price on shares of eBay from $55.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 3rd. Truist Financial raised their price target on shares of eBay from $50.00 to $58.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Evercore ISI boosted their price objective on eBay from $47.00 to $53.00 and gave the stock an “in-line” rating in a research note on Thursday, August 1st. Finally, Barclays decreased their target price on eBay from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, eBay presently has a consensus rating of “Hold” and a consensus target price of $62.05.

Insider Buying and Selling at eBay

In related news, CFO Stephen J. Priest sold 1,167 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was 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 of the company’s stock, valued at approximately $4,336,213.77. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Stephen J. Priest sold 1,167 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 65,079 shares of the company’s stock, valued at approximately $4,336,213.77. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $66.56, for a total value of $374,400.00. Following the completion of the sale, the chief executive officer now owns 553,666 shares in the company, valued at $36,852,008.96. 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 worth $2,678,424 over the last quarter. 0.38% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

eBay Stock Performance

The company has a market cap of $28.87 billion, a PE ratio of 11.46, a PEG ratio of 2.45 and a beta of 1.32. The stock has a 50 day simple moving average of $63.00 and a two-hundred day simple moving average 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.

eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.88. eBay had a net margin of 26.41% and a return on equity of 29.69%. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.53 billion. Equities analysts predict that eBay Inc. will post 3.86 EPS for the current year.

eBay Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a yield of 1.88%. eBay’s payout ratio is currently 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.