eBay (NASDAQ:EBAY) Rating Lowered to “Market Perform” at Sanford C. Bernstein

eBay (NASDAQ:EBAY) was downgraded by stock analysts at Sanford C. Bernstein from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday, Marketbeat reports. They currently have a $65.00 target price on the e-commerce company’s stock, down from their prior target price of $70.00. Sanford C. Bernstein’s price objective would suggest a potential downside of 2.46% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of eBay from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Cantor Fitzgerald boosted their target price on eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Citigroup upped their target price on eBay from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company decreased their price target on eBay from $64.00 to $62.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 2nd. Finally, Morgan Stanley cut their price objective on eBay from $71.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $64.83.

eBay Stock Performance

NASDAQ:EBAY opened at $66.64 on Tuesday. The firm has a market capitalization of $31.06 billion, a PE ratio of 16.74, a PEG ratio of 2.22 and a beta of 1.43. The stock’s fifty day moving average is $66.14 and its 200 day moving average is $64.98. eBay has a fifty-two week low of $48.52 and a fifty-two week high of $71.61. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25.

Insider Buying and Selling

In related news, CFO Stephen J. Priest sold 1,167 shares of the business’s stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $66.21, for a total transaction of $77,267.07. Following the completion of the transaction, the chief financial officer now owns 65,080 shares in the company, valued at $4,308,946.80. The trade was a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jamie Iannone sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $66.35, for a total transaction of $497,625.00. Following the completion of the sale, the chief executive officer now owns 590,108 shares of the company’s stock, valued at approximately $39,153,665.80. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,310 shares of company stock worth $3,121,626 in the last three months. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.