eBay (NASDAQ:EBAY) Cut to “Underperform” at Jefferies Financial Group

Jefferies Financial Group cut shares of eBay (NASDAQ:EBAY) from a hold rating to an underperform rating in a report published on Tuesday, Marketbeat Ratings reports. They currently have $52.00 target price on the e-commerce company’s stock, down from their previous target price of $60.00.

EBAY has been the subject of a number of other research reports. Truist Financial boosted their price target on eBay from $58.00 to $62.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Stifel Nicolaus upped their target price on eBay from $56.00 to $64.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Bank of America decreased their target price on eBay from $67.00 to $64.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. UBS Group decreased their target price on eBay from $72.00 to $66.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company decreased their target price on eBay from $63.00 to $62.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $62.63.

eBay Price Performance

EBAY stock opened at $63.90 on Tuesday. The stock has a 50-day moving average price of $63.45 and a two-hundred day moving average price of $59.00. eBay has a 12-month low of $40.16 and a 12-month high of $67.80. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The company has a market cap of $30.61 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.67 and a beta of 1.35.

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.69%. The ex-dividend date is Friday, November 29th. eBay’s payout ratio is currently 27.14%.

Insider Buying and Selling at eBay

In other news, SVP Cornelius Boone sold 3,974 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $256,760.14. Following the sale, the senior vice president now directly owns 70,113 shares in the company, valued at approximately $4,530,000.93. This represents a 5.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen J. Priest sold 1,167 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total value of $77,757.21. Following the sale, the chief financial officer now owns 65,079 shares in the company, valued at $4,336,213.77. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,641 shares of company stock worth $3,370,974 over the last quarter. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of eBay

A number of institutional investors and hedge funds have recently made changes to their positions in EBAY. Tortoise Investment Management LLC raised its position in shares of eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 465 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of eBay during the 2nd quarter worth approximately $29,000. Gradient Investments LLC raised its position in shares of eBay by 86.3% during the 2nd quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock worth $33,000 after purchasing an additional 284 shares during the period. Quarry LP acquired a new stake in shares of eBay during the 3rd quarter worth approximately $36,000. Finally, USA Financial Formulas bought a new position in eBay in the 3rd quarter worth approximately $38,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

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.