eBay (NASDAQ:EBAY) Price Target Lowered to $59.00 at Wells Fargo & Company

eBay (NASDAQ:EBAY) had its target price lowered by investment analysts at Wells Fargo & Company from $62.00 to $59.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the e-commerce company’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 9.47% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Jefferies Financial Group cut eBay from a “hold” rating to an “underperform” rating and cut their price objective for the company from $60.00 to $52.00 in a research report on Tuesday, December 10th. Wedbush initiated coverage on shares of eBay in a research report on Monday, December 9th. They set a “neutral” rating and a $70.00 price objective for the company. TD Cowen lifted their target price on shares of eBay from $45.00 to $54.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Stifel Nicolaus increased their target price on eBay from $56.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Robert W. Baird reduced their target price on shares of eBay from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $62.83.

eBay Stock Down 0.8 %

EBAY stock traded down $0.55 during mid-day trading on Tuesday, reaching $65.17. The company had a trading volume of 862,228 shares, compared to its average volume of 6,443,300. eBay has a 52 week low of $40.16 and a 52 week high of $71.52. The company has a market capitalization of $31.22 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 2.22 and a beta of 1.35. 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 stock has a 50 day simple moving average of $63.34 and a two-hundred day simple moving average of $60.75.

Insiders Place Their Bets

In other eBay news, CFO Stephen J. Priest sold 1,167 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total value of $77,757.21. Following the completion of the sale, the chief financial officer now directly owns 65,079 shares of the company’s stock, valued at $4,336,213.77. This trade represents a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $59.91, for a total value of $336,993.75. Following the transaction, the chief executive officer now owns 548,042 shares of the company’s stock, valued at $32,833,196.22. The trade was a 1.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,283 shares of company stock worth $1,715,462. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. lifted its position in eBay by 17.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock worth $1,394,797,000 after buying an additional 3,880,649 shares during the last quarter. Wellington Management Group LLP purchased a new position in eBay during the 3rd quarter valued at $105,506,000. Altshuler Shaham Ltd bought a new position in eBay in the second quarter worth about $71,593,000. Renaissance Technologies LLC purchased a new stake in eBay in the second quarter worth about $49,924,000. Finally, Pacer Advisors Inc. boosted its position in eBay by 11.5% during the 2nd quarter. Pacer Advisors Inc. now owns 6,573,579 shares of the e-commerce company’s stock valued at $353,133,000 after acquiring an additional 679,528 shares in the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

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.