eBay (NASDAQ:EBAY) Given New $59.00 Price Target at Wells Fargo & Company

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

Several other analysts have also recently commented on EBAY. Sanford C. Bernstein upgraded eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a report on Tuesday, November 5th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $62.00 target price on shares of eBay in a research note on Monday, October 7th. Truist Financial boosted their price objective on shares of eBay from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Morgan Stanley raised their price target on shares of eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Wedbush began coverage on shares of eBay in a research report on Monday, December 9th. They issued a “neutral” rating and a $70.00 target price for the company. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $62.83.

eBay Stock Down 0.1 %

EBAY stock opened at $65.06 on Tuesday. The company has a 50 day moving average price of $63.48 and a two-hundred day moving average price of $60.85. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $31.16 billion, a P/E ratio of 16.35, a PEG ratio of 2.10 and a beta of 1.35. eBay has a one year low of $40.28 and a one year high of $71.52.

eBay Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Friday, November 29th. eBay’s dividend payout ratio (DPR) is 27.14%.

Insider Activity at eBay

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $63.21, for a total transaction of $355,556.25. Following the completion of the transaction, the chief executive officer now directly owns 531,167 shares of the company’s stock, valued at approximately $33,575,066.07. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Cornelius Boone sold 3,989 shares of eBay stock in a transaction on 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. Insiders have sold a total of 26,116 shares of company stock worth $1,637,705 over the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Private Advisor Group LLC lifted its holdings in eBay by 90.7% in the 3rd quarter. Private Advisor Group LLC now owns 45,500 shares of the e-commerce company’s stock valued at $2,963,000 after acquiring an additional 21,636 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of eBay by 2.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 53,580 shares of the e-commerce company’s stock worth $3,489,000 after purchasing an additional 1,063 shares in the last quarter. Prospera Financial Services Inc lifted its stake in eBay by 794.2% during the third quarter. Prospera Financial Services Inc now owns 70,616 shares of the e-commerce company’s stock valued at $4,598,000 after purchasing an additional 62,719 shares during the last quarter. Trustmark National Bank Trust Department acquired a new stake in eBay during the third quarter valued at approximately $1,307,000. Finally, Nordea Investment Management AB boosted its holdings in eBay by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 9,151,026 shares of the e-commerce company’s stock worth $573,220,000 after buying an additional 335,035 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.