Wells Fargo & Company Has Lowered Expectations for eBay (NASDAQ:EBAY) Stock Price

eBay (NASDAQ:EBAY) had its price objective cut by Wells Fargo & Company from $62.00 to $59.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the e-commerce company’s stock.

Other research analysts also recently issued research reports about the company. JMP Securities restated a “market perform” rating on shares of eBay in a research note on Monday, December 16th. StockNews.com lowered shares of eBay from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. UBS Group reduced their price objective on shares of eBay from $72.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Piper Sandler increased their target price on shares of eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of eBay in a research report on Thursday, October 31st. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.83.

eBay Price Performance

eBay stock opened at $64.41 on Tuesday. The firm has a market capitalization of $30.85 billion, a P/E ratio of 16.18, a PEG ratio of 2.22 and a beta of 1.35. eBay has a one year low of $40.16 and a one year high of $71.52. 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 fifty day moving average price of $63.40 and a 200-day moving average price of $60.82.

eBay Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Friday, November 29th. eBay’s dividend payout ratio (DPR) is presently 27.14%.

Insider Activity

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $63.21, for a total transaction of $355,556.25. Following the completion of the sale, the chief executive officer now owns 531,167 shares of the company’s stock, valued at $33,575,066.07. This represents a 1.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stephen J. Priest sold 5,252 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $63.63, for a total transaction of $334,184.76. Following the completion of the transaction, the chief financial officer now owns 65,080 shares in the company, valued at $4,141,040.40. The trade was a 7.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,116 shares of company stock valued at $1,637,705. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On eBay

Several institutional investors and hedge funds have recently bought and sold shares of EBAY. Ameriprise Financial Inc. raised its holdings in shares of eBay by 17.6% during the second quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock valued at $1,394,797,000 after acquiring an additional 3,880,649 shares in the last quarter. Nordea Investment Management AB boosted its holdings in eBay by 3.8% in the fourth quarter. Nordea Investment Management AB now owns 9,151,026 shares of the e-commerce company’s stock valued at $573,220,000 after acquiring an additional 335,035 shares in the last quarter. Dimensional Fund Advisors LP increased its position in eBay by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 6,723,503 shares of the e-commerce company’s stock valued at $361,159,000 after purchasing an additional 530,941 shares during the period. Pacer Advisors Inc. raised its holdings in eBay by 11.5% in the 2nd quarter. Pacer Advisors Inc. now owns 6,573,579 shares of the e-commerce company’s stock worth $353,133,000 after purchasing an additional 679,528 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of eBay by 4.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,447,627 shares of the e-commerce company’s stock worth $354,695,000 after purchasing an additional 216,162 shares during the period. Hedge funds and other institutional investors own 87.48% of the company’s stock.

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.