Sanford C. Bernstein Downgrades eBay (NASDAQ:EBAY) to Market Perform

eBay (NASDAQ:EBAY) was downgraded by equities researchers at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, MarketBeat.com reports. They presently have a $65.00 target price on the e-commerce company’s stock, down from their previous target price of $70.00. Sanford C. Bernstein’s price target points to a potential downside of 2.46% from the company’s previous close.

EBAY has been the topic of several other reports. JPMorgan Chase & Co. cut their price objective on shares of eBay from $60.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Susquehanna raised their price target on shares of eBay from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. UBS Group upped their price objective on eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a research report on Monday, February 24th. Cantor Fitzgerald lifted their target price on eBay from $65.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 27th. Finally, Citigroup boosted their price target on eBay from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $64.83.

eBay Stock Down 0.6 %

Shares of NASDAQ:EBAY opened at $66.64 on Tuesday. eBay has a 12-month low of $48.52 and a 12-month high of $71.61. The stock has a market capitalization of $31.06 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 2.22 and a beta of 1.43. The stock has a fifty day simple moving average of $66.14 and a two-hundred day simple moving average of $64.98. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14.

Insider Activity

In other news, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $67.25, for a total value 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. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Cornelius Boone sold 3,958 shares of the firm’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total transaction of $265,423.48. Following the transaction, the senior vice president now directly owns 94,392 shares of the company’s stock, valued at $6,329,927.52. The trade was a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 46,310 shares of company stock worth $3,121,626 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On eBay

A number of hedge funds have recently made changes to their positions in EBAY. DLK Investment Management LLC bought a new stake in eBay in the 1st quarter worth approximately $217,000. Sequoia Financial Advisors LLC grew its holdings in shares of eBay by 5.1% in the first quarter. Sequoia Financial Advisors LLC now owns 16,094 shares of the e-commerce company’s stock valued at $1,090,000 after purchasing an additional 788 shares in the last quarter. Golden State Wealth Management LLC increased its position in eBay by 204.4% in the first quarter. Golden State Wealth Management LLC now owns 1,321 shares of the e-commerce company’s stock worth $89,000 after purchasing an additional 887 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in eBay by 15.0% during the first quarter. Asset Management One Co. Ltd. now owns 237,440 shares of the e-commerce company’s stock valued at $16,082,000 after purchasing an additional 31,015 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its position in eBay by 1.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 35,639 shares of the e-commerce company’s stock valued at $2,414,000 after purchasing an additional 679 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

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.