Citigroup Lowers eBay (NASDAQ:EBAY) Price Target to $79.00

eBay (NASDAQ:EBAY - Free Report) had its price objective trimmed by Citigroup from $80.00 to $79.00 in a research note published on Friday,Benzinga reports. The firm currently has a buy rating on the e-commerce company's stock.

Other equities analysts have also issued research reports about the stock. Barclays set a $72.00 price target on shares of eBay and gave the company an "overweight" rating in a report on Thursday, February 27th. Susquehanna boosted their target price on eBay from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, March 3rd. Morgan Stanley dropped their price target on eBay from $71.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Needham & Company LLC reiterated a "buy" rating and issued a $72.00 price objective on shares of eBay in a research report on Thursday, February 27th. Finally, UBS Group raised their target price on shares of eBay from $66.00 to $72.00 and gave the stock a "neutral" rating in a report on Monday, February 24th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $64.79.

eBay Trading Up 0.9 %

eBay stock traded up $0.63 during midday trading on Friday, hitting $67.83. 4,200,775 shares of the stock were exchanged, compared to its average volume of 4,956,385. eBay has a 52 week low of $48.52 and a 52 week high of $71.61. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $31.61 billion, a PE ratio of 17.04, a P/E/G ratio of 2.22 and a beta of 1.43. The company has a fifty day simple moving average of $66.05 and a two-hundred day simple moving average of $64.97.

eBay Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from eBay's previous quarterly dividend of $0.27. eBay's payout ratio is 29.07%.

Insiders Place Their Bets

In related news, CFO Stephen J. Priest sold 28,060 shares of eBay stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $67.82, for a total transaction of $1,903,029.20. Following the completion of the sale, the chief financial officer now directly owns 65,080 shares of the company's stock, valued at approximately $4,413,725.60. This trade represents a 30.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Cornelius Boone sold 3,958 shares of the company's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total value of $265,423.48. Following the completion of the transaction, the senior vice president now directly owns 94,392 shares in the company, valued at approximately $6,329,927.52. This represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,310 shares of company stock valued at $3,121,626 over the last ninety days. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On eBay

Institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. grew its position in shares of eBay by 12.4% during the 4th quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company's stock worth $1,765,148,000 after purchasing an additional 3,149,934 shares in the last quarter. Independent Franchise Partners LLP grew its position in eBay by 25.6% during the fourth quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company's stock worth $692,517,000 after buying an additional 2,277,839 shares in the last quarter. Marshall Wace LLP grew its position in eBay by 304.2% during the fourth quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company's stock worth $130,421,000 after buying an additional 1,584,404 shares in the last quarter. Raymond James Financial Inc. bought a new position in eBay during the 4th quarter worth $96,214,000. Finally, Boston Partners raised its holdings in eBay by 35.2% in the 4th quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company's stock valued at $362,823,000 after acquiring an additional 1,524,691 shares in the last quarter. Institutional investors own 87.48% of the company's stock.

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.