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

eBay Inc. (NASDAQ:EBAY) fell 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 traded hands during mid-day trading, a decline of 81% from the average session volume of 4,940,812 shares. The stock had previously closed at $67.83.

Several other research analysts also recently commented on EBAY. JPMorgan Chase & Co. cut their target price on eBay from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Morgan Stanley decreased their target price on shares of eBay from $71.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of eBay in a research report on Thursday, February 27th. Sanford C. Bernstein lowered shares of eBay from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $70.00 to $65.00 in a research note on Tuesday, April 22nd. Finally, StockNews.com downgraded shares of eBay from a “buy” rating to a “hold” rating in a research note on Friday, April 18th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $64.79.

Insiders Place Their Bets

In other news, CEO Jamie Iannone sold 7,500 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were sold at an average price of $66.35, for a total value of $497,625.00. Following the sale, the chief executive officer now directly owns 590,108 shares of the company’s stock, valued at $39,153,665.80. This represents a 1.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $66.21, for a total transaction of $77,267.07. Following the transaction, the chief financial officer now directly owns 65,080 shares of the company’s stock, valued at approximately $4,308,946.80. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,310 shares of company stock worth $3,121,626 over the last three months. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On eBay

A number of hedge funds and other institutional investors have recently bought and sold shares of EBAY. Golden State Wealth Management LLC purchased a new stake in shares of eBay in the 4th quarter worth approximately $27,000. Orion Capital Management LLC bought a new position in shares of eBay during the fourth quarter valued at $27,000. Pinney & Scofield Inc. purchased a new position in shares of eBay in the 4th quarter worth about $31,000. Itau Unibanco Holding S.A. purchased a new position in shares of eBay in the 4th quarter worth about $33,000. Finally, Ameriflex Group Inc. bought a new position in eBay in the 4th quarter worth about $38,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Stock Down 0.6 %

The company has a market capitalization of $31.42 billion, a PE ratio of 16.92, a P/E/G ratio of 2.22 and a beta of 1.43. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The company’s 50-day moving average is $66.05 and its 200 day moving average is $64.96.

eBay Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.29 per share. The ex-dividend date was Friday, March 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.72%. This is an increase from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio (DPR) 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.