Wells Fargo & Company Cuts eBay (NASDAQ:EBAY) Price Target to $62.00

eBay (NASDAQ:EBAY) had its price target reduced by Wells Fargo & Company from $63.00 to $62.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an equal weight rating on the e-commerce company’s stock.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus upped their target price on shares of eBay from $56.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Wolfe Research assumed coverage on eBay in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Daiwa America raised shares of eBay to a “hold” rating in a research report on Wednesday, August 14th. StockNews.com raised eBay from a “hold” rating to a “buy” rating in a report on Thursday, October 10th. Finally, Barclays dropped their price objective on eBay from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, eBay currently has a consensus rating of “Hold” and an average price target of $61.86.

eBay Stock Up 1.0 %

Shares of NASDAQ EBAY opened at $58.11 on Friday. The company has a market capitalization of $28.42 billion, a P/E ratio of 14.60, a P/E/G ratio of 1.79 and a beta of 1.34. 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 company has a 50 day simple moving average of $62.99 and a 200-day simple moving average of $56.82. eBay has a 1 year low of $37.17 and a 1 year high of $67.80.

eBay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Friday, November 29th. eBay’s dividend payout ratio (DPR) is presently 27.14%.

Insider Activity at eBay

In other eBay news, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total transaction of $77,757.21. Following the completion of the transaction, the chief financial officer now owns 65,079 shares in the company, valued at approximately $4,336,213.77. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total transaction of $77,757.21. Following the completion of the sale, the chief financial officer now owns 65,079 shares in the company, valued at approximately $4,336,213.77. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $66.56, for a total transaction of $374,400.00. Following the sale, the chief executive officer now owns 553,666 shares of the company’s stock, valued at approximately $36,852,008.96. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,391 shares of company stock valued at $2,678,424. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

Several hedge funds and other institutional investors have recently made changes to their positions in EBAY. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of eBay during the second quarter worth about $26,000. Tortoise Investment Management LLC lifted its position in eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after acquiring an additional 465 shares in the last quarter. LRI Investments LLC purchased a new position in eBay in the 1st quarter worth approximately $29,000. Hobbs Group Advisors LLC acquired a new stake in eBay in the second quarter valued at approximately $29,000. Finally, Washington Trust Advisors Inc. purchased a new stake in shares of eBay during the first quarter valued at approximately $30,000. Institutional investors and hedge funds 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.