eBay (NASDAQ:EBAY) Shares Gap Down – What’s Next?

eBay Inc. (NASDAQ:EBAY) gapped down before the market opened on Tuesday . The stock had previously closed at $65.14, but opened at $62.55. eBay shares last traded at $62.50, with a volume of 1,419,086 shares trading hands.

Wall Street Analysts Forecast Growth

EBAY has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a research note on Tuesday, October 15th. Citigroup upped their price target on eBay from $65.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Stifel Nicolaus raised their price objective on eBay from $56.00 to $64.00 and gave the company a “hold” rating in a report on Monday, October 28th. Barclays decreased their target price on eBay from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of eBay from $70.00 to $63.00 and set a “buy” rating for the company in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.63.

eBay Trading Down 3.2 %

The company has a market cap of $30.20 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.67 and a beta of 1.35. The company’s 50 day simple moving average is $63.54 and its two-hundred day simple moving average is $58.91. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a $0.27 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.71%. eBay’s payout ratio is presently 27.14%.

Insiders Place Their Bets

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $63.21, for a total transaction of $355,556.25. Following the completion of the transaction, the chief executive officer now owns 531,167 shares in the company, valued at $33,575,066.07. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Cornelius Boone sold 3,974 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction of $256,760.14. Following the completion of the sale, the senior vice president now owns 70,113 shares in the company, valued at $4,530,000.93. The trade was a 5.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,641 shares of company stock worth $3,370,974 over the last three months. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On eBay

Several institutional investors have recently added to or reduced their stakes in EBAY. Tortoise Investment Management LLC boosted its holdings in shares of eBay by 894.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after buying an additional 465 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of eBay during the second quarter worth about $29,000. Gradient Investments LLC increased its position in shares of eBay by 86.3% during the second quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock worth $33,000 after purchasing an additional 284 shares in the last quarter. Quarry LP purchased a new stake in shares of eBay in the 3rd quarter valued at about $36,000. Finally, USA Financial Formulas purchased a new position in eBay during the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors 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.