Wells Fargo & Company Lowers eBay (NASDAQ:EBAY) Price Target to $59.00

eBay (NASDAQ:EBAY - Free Report) had its price objective trimmed by Wells Fargo & Company from $62.00 to $59.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the e-commerce company's stock.

A number of other brokerages also recently weighed in on EBAY. Bank of America lowered their price objective on shares of eBay from $67.00 to $64.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Truist Financial increased their price target on eBay from $58.00 to $62.00 and gave the stock a "hold" rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on shares of eBay from $46.00 to $55.00 and gave the company a "sell" rating in a report on Tuesday, October 15th. Benchmark reiterated a "buy" rating and issued a $65.00 price objective on shares of eBay in a research report on Tuesday, October 29th. Finally, Jefferies Financial Group lowered shares of eBay from a "hold" rating to an "underperform" rating and dropped their price target for the company from $60.00 to $52.00 in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $62.83.

eBay Stock Down 2.0 %

Shares of EBAY traded down $1.31 during trading on Tuesday, reaching $64.41. The company's stock had a trading volume of 4,511,205 shares, compared to its average volume of 6,933,545. eBay has a twelve month low of $40.16 and a twelve month high of $71.52. 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 company has a market cap of $30.85 billion, a price-to-earnings ratio of 16.18, a P/E/G ratio of 2.22 and a beta of 1.35. The company has a fifty day moving average of $63.34 and a two-hundred day moving average of $60.75.

eBay Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.68%. The ex-dividend date was Friday, November 29th. eBay's dividend payout ratio is currently 27.14%.

Insider Buying and Selling at eBay

In related news, CEO Jamie Iannone sold 5,625 shares of the company's stock in a transaction on Monday, November 4th. The shares were sold at an average price of $59.91, for a total value of $336,993.75. Following the completion of the sale, the chief executive officer now directly owns 548,042 shares in the company, valued at approximately $32,833,196.22. This represents a 1.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Cornelius Boone sold 3,989 shares of the firm's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.20, for a total value of $260,082.80. Following the transaction, the senior vice president now owns 71,469 shares in the company, valued at approximately $4,659,778.80. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,283 shares of company stock worth $1,715,462. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On eBay

A number of institutional investors have recently made changes to their positions in the business. Quarry LP bought a new position in shares of eBay during the 3rd quarter worth about $36,000. USA Financial Formulas bought a new position in eBay during the third quarter valued at about $38,000. Northwest Investment Counselors LLC acquired a new position in eBay in the 3rd quarter valued at approximately $50,000. Versant Capital Management Inc lifted its position in shares of eBay by 115.5% in the 4th quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company's stock worth $52,000 after acquiring an additional 448 shares during the period. Finally, Financial Management Professionals Inc. grew its holdings in shares of eBay by 276.0% during the 3rd quarter. Financial Management Professionals Inc. now owns 846 shares of the e-commerce company's stock worth $55,000 after purchasing an additional 621 shares in the last quarter. 87.48% of the stock is currently owned by 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.