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

eBay (NASDAQ:EBAY - Get Free Report) was downgraded by stock analysts at Sanford C. Bernstein from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. They currently 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 objective indicates a potential downside of 4.17% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Bank of America lowered their target price on eBay from $72.00 to $71.00 and set a "neutral" rating for the company in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price objective on shares of eBay in a research note on Thursday, February 27th. Stifel Nicolaus cut their target price on shares of eBay from $64.00 to $63.00 and set a "hold" rating on the stock in a research report on Thursday, February 27th. Morgan Stanley lowered their target price on eBay from $71.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, BMO Capital Markets lifted their price target on eBay from $59.00 to $63.00 and gave the company a "market perform" rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, eBay has a consensus rating of "Hold" and a consensus price target of $64.79.

eBay Trading Up 0.9 %

Shares of eBay stock traded up $0.63 on Tuesday, hitting $67.83. 4,200,775 shares of the company traded hands, compared to its average volume of 4,956,502. eBay has a 52 week low of $48.52 and a 52 week high of $71.61. The company has a market cap of $31.61 billion, a PE ratio of 17.04, a PEG ratio of 2.22 and a beta of 1.43. The stock's 50 day moving average price is $66.05 and its 200-day moving average price is $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 at eBay

In related news, CFO Stephen J. Priest sold 1,167 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $66.21, for a total transaction of $77,267.07. Following the transaction, the chief financial officer now owns 65,080 shares of the company's stock, valued at approximately $4,308,946.80. This represents a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $67.25, for a total transaction of $378,281.25. Following the sale, the chief executive officer now owns 530,998 shares in the company, valued at $35,709,615.50. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,310 shares of company stock worth $3,121,626. Insiders own 0.38% of the company's stock.

Institutional Trading of eBay

Hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its stake in shares of eBay by 12.4% in the 4th quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company's stock valued at $1,765,148,000 after buying an additional 3,149,934 shares during the period. Independent Franchise Partners LLP grew its holdings in eBay by 25.6% during the 4th quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company's stock worth $692,517,000 after acquiring an additional 2,277,839 shares in the last quarter. Marshall Wace LLP increased its position in shares of eBay by 304.2% in the 4th quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company's stock valued at $130,421,000 after purchasing an additional 1,584,404 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of eBay during the 4th quarter worth $96,214,000. Finally, Boston Partners grew its stake in shares of eBay by 35.2% during the fourth quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company's stock worth $362,823,000 after purchasing an additional 1,524,691 shares in the last quarter. 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.