eBay (NASDAQ:EBAY) Trading Down 0.6% on Analyst Downgrade

eBay Inc. (NASDAQ:EBAY - Get Free Report) was down 0.6% during 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. Approximately 917,672 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 4,940,812 shares. The stock had previously closed at $67.83.

EBAY has been the subject of a number of other research reports. UBS Group raised their price objective on shares of eBay from $66.00 to $72.00 and gave the company a "neutral" rating in a research report on Monday, February 24th. BMO Capital Markets increased their price objective on shares of eBay from $59.00 to $63.00 and gave the company a "market perform" rating in a research note on Thursday, February 27th. StockNews.com cut eBay from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Barclays set a $72.00 price objective on shares of eBay and gave the company an "overweight" rating in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald increased their price target on eBay from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $64.83.

Insiders Place Their Bets

In other news, SVP Cornelius Boone sold 3,958 shares of eBay stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total transaction of $265,423.48. Following the completion of the sale, the senior vice president now directly owns 94,392 shares in the company, valued at $6,329,927.52. The trade was a 4.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $67.25, for a total value of $378,281.25. Following the completion of the transaction, the chief executive officer now owns 530,998 shares in the company, valued at $35,709,615.50. The trade was a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,310 shares of company stock worth $3,121,626. Corporate insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On eBay

Several hedge funds have recently made changes to their positions in EBAY. Pine Valley Investments Ltd Liability Co bought a new position in shares of eBay during the 3rd quarter worth about $203,000. World Investment Advisors LLC bought a new position in shares of eBay in the third quarter valued at approximately $2,947,000. Arvest Bank Trust Division acquired a new position in shares of eBay in the 3rd quarter worth approximately $9,716,000. Wilmington Savings Fund Society FSB acquired a new stake in eBay during the 3rd quarter valued at $241,000. Finally, Tidal Investments LLC raised its position in eBay by 7.5% in the 3rd quarter. Tidal Investments LLC now owns 67,209 shares of the e-commerce company's stock valued at $4,376,000 after purchasing an additional 4,677 shares during the last quarter. Institutional investors own 87.48% of the company's stock.

eBay Trading Up 1.4 %

The company has a market cap of $31.76 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The business has a 50 day simple moving average of $65.92 and a 200 day simple moving average of $65.00.

eBay (NASDAQ:EBAY - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.04. eBay had a return on equity of 30.97% and a net margin of 19.68%. During the same period in the previous year, the business earned $1.25 EPS. The business's revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, equities analysts forecast that eBay Inc. will post 3.86 EPS for the current year.

eBay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.70%. eBay's dividend payout ratio 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.