eBay (NASDAQ:EBAY) Shares Down 0.2% Following Analyst Downgrade

eBay Inc. (NASDAQ:EBAY - Get Free Report) shares dropped 0.2% on Wednesday 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 $65.59 and last traded at $66.91. Approximately 1,550,395 shares changed hands during trading, a decline of 69% from the average daily volume of 4,942,974 shares. The stock had previously closed at $67.05.

A number of other research analysts also recently weighed in on the company. Benchmark increased their target price on eBay from $65.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their price objective on shares of eBay from $60.00 to $54.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. BMO Capital Markets boosted their target price on shares of eBay from $59.00 to $63.00 and gave the company a "market perform" rating in a research report on Thursday, February 27th. Barclays set a $72.00 price target on shares of eBay and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Finally, Sanford C. Bernstein downgraded shares of eBay from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $70.00 to $65.00 in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $64.79.

Insider Buying and Selling at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of the company's stock in a transaction that occurred on 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 directly owns 530,998 shares of the company's stock, valued at $35,709,615.50. This represents a 1.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Cornelius Boone sold 3,958 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 94,392 shares of the company's stock, valued at $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 46,310 shares of company stock valued at $3,121,626 in the last 90 days. Insiders own 0.38% of the company's stock.

Institutional Investors Weigh In On eBay

A number of hedge funds have recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new position in shares of eBay in the 4th quarter worth $27,000. Orion Capital Management LLC purchased a new position in eBay in the fourth quarter worth about $27,000. Pinney & Scofield Inc. purchased a new position in eBay in the fourth quarter worth about $31,000. Itau Unibanco Holding S.A. bought a new stake in eBay during the fourth quarter worth approximately $33,000. Finally, New Wave Wealth Advisors LLC purchased a new stake in eBay during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 87.48% of the company's stock.

eBay Price Performance

The firm has a market capitalization of $31.43 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a 50 day moving average price of $66.09 and a 200-day moving average price of $64.98.

eBay Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.29 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from eBay's previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 1.72%. eBay's dividend payout ratio (DPR) is currently 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.