eBay (NASDAQ:EBAY) Upgraded to “Outperform” at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of eBay (NASDAQ:EBAY) from a market perform rating to an outperform rating in a research report sent to investors on Tuesday morning, Marketbeat reports. The brokerage currently has $70.00 price objective on the e-commerce company’s stock.

A number of other research analysts have also issued reports on EBAY. Citigroup increased their target price on eBay from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. UBS Group decreased their price objective on shares of eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Susquehanna boosted their target price on shares of eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company decreased their price target on shares of eBay from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, Wolfe Research initiated coverage on eBay in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, eBay currently has an average rating of “Hold” and an average price target of $62.87.

eBay Price Performance

Shares of eBay stock opened at $61.51 on Tuesday. The firm has a market cap of $29.46 billion, a PE ratio of 15.45, a P/E/G ratio of 1.90 and a beta of 1.34. eBay has a twelve month low of $37.17 and a twelve month high of $67.80. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The business has a 50-day moving average price of $63.05 and a 200 day moving average price of $56.97.

eBay Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a yield of 1.76%. eBay’s payout ratio is currently 27.14%.

Insiders Place Their Bets

In other news, CFO Stephen J. Priest sold 25,000 shares of the company’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 transaction, the chief financial officer now directly owns 70,332 shares in the company, valued at approximately $4,494,918.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Stephen J. Priest sold 25,000 shares of eBay stock in a transaction on Monday, September 16th. The stock was 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 approximately $4,494,918.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $66.09, for a total value of $371,756.25. Following the transaction, the chief executive officer now directly owns 559,291 shares in the company, valued at approximately $36,963,542.19. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,391 shares of company stock valued at $2,678,424 over the last 90 days. 0.38% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of eBay during the second quarter worth $26,000. Tortoise Investment Management LLC grew its stake 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 purchasing an additional 465 shares in the last quarter. LRI Investments LLC purchased a new stake in eBay during the 1st quarter worth about $29,000. Hobbs Group Advisors LLC acquired a new stake in eBay in the 2nd quarter valued at about $29,000. Finally, Washington Trust Advisors Inc. acquired a new position in shares of eBay during the first quarter worth about $30,000. Institutional investors and hedge funds 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.