Wells Fargo & Company Issues Pessimistic Forecast for eBay (NASDAQ:EBAY) Stock Price

eBay (NASDAQ:EBAY) had its price objective trimmed by Wells Fargo & Company from $63.00 to $62.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an equal weight rating on the e-commerce company’s stock.

Several other equities research analysts have also weighed in on EBAY. Truist Financial increased their price objective on shares of eBay from $50.00 to $58.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. TD Cowen increased their price target on eBay from $45.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Daiwa America upgraded eBay to a “hold” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. cut their target price on eBay from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Bank of America lowered their price target on shares of eBay from $67.00 to $64.00 and set a “neutral” rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, eBay presently has a consensus rating of “Hold” and a consensus target price of $61.86.

eBay Stock Up 1.0 %

EBAY stock opened at $58.11 on Friday. The firm has a market cap of $28.42 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.79 and a beta of 1.34. eBay has a 1-year low of $37.17 and a 1-year high of $67.80. The firm has a fifty day moving average price of $62.99 and a two-hundred day moving average price of $56.82. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25.

eBay Dividend Announcement

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 issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.86%. eBay’s dividend payout ratio is currently 27.14%.

Insider Activity

In related news, CFO Stephen J. Priest sold 1,167 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 65,079 shares in the company, valued at approximately $4,336,213.77. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other eBay news, CFO Stephen J. Priest sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the sale, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stephen J. Priest sold 1,167 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total value of $77,757.21. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,391 shares of company stock worth $2,678,424 over the last quarter. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EBAY. Transcendent Capital Group LLC acquired a new stake in shares of eBay in the third quarter worth $291,000. Atria Investments Inc grew its holdings in shares of eBay by 1.5% during the 3rd quarter. Atria Investments Inc now owns 73,188 shares of the e-commerce company’s stock worth $4,765,000 after purchasing an additional 1,066 shares in the last quarter. TCTC Holdings LLC increased its position in shares of eBay by 0.6% during the third quarter. TCTC Holdings LLC now owns 72,779 shares of the e-commerce company’s stock valued at $4,739,000 after purchasing an additional 409 shares during the period. Assetmark Inc. raised its stake in shares of eBay by 10.5% in the third quarter. Assetmark Inc. now owns 18,311 shares of the e-commerce company’s stock valued at $1,192,000 after purchasing an additional 1,733 shares in the last quarter. Finally, Verdence Capital Advisors LLC boosted its stake in eBay by 10.5% during the third quarter. Verdence Capital Advisors LLC now owns 11,247 shares of the e-commerce company’s stock worth $732,000 after buying an additional 1,065 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors and hedge funds.

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.