eBay (NASDAQ:EBAY) was downgraded by analysts at Hilliard Lyons from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, The Fly reports. The analysts noted that the move was a valuation call.
EBAY has been the subject of several other reports. BMO Capital Markets raised shares of eBay from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Monday, December 4th. SunTrust Banks reissued a “hold” rating and set a $38.00 target price on shares of eBay in a research note on Friday, November 17th. Piper Jaffray Companies set a $34.00 target price on shares of eBay and gave the company a “hold” rating in a research note on Wednesday, October 11th. Guggenheim initiated coverage on shares of eBay in a research note on Friday, October 20th. They set a “neutral” rating for the company. Finally, BidaskClub raised shares of eBay from a “sell” rating to a “hold” rating in a research note on Wednesday, December 6th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and eighteen have given a buy rating to the company’s stock. eBay presently has an average rating of “Hold” and a consensus price target of $42.87.
eBay (EBAY) traded down $1.89 during mid-day trading on Friday, reaching $44.30. 18,694,435 shares of the company traded hands, compared to its average volume of 11,400,641. eBay has a fifty-two week low of $31.80 and a fifty-two week high of $46.99. The firm has a market capitalization of $47,070.00, a price-to-earnings ratio of -42.14, a PEG ratio of 2.82 and a beta of 1.31. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.82.
eBay announced that its board has initiated a share repurchase program on Wednesday, January 31st that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the e-commerce company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other news, SVP Raymond J. Pittman sold 31,400 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $35.58, for a total transaction of $1,117,212.00. Following the transaction, the senior vice president now owns 74,334 shares in the company, valued at approximately $2,644,803.72. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Brian J. Doerger sold 6,660 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $35.99, for a total transaction of $239,693.40. Following the transaction, the vice president now owns 16,732 shares in the company, valued at approximately $602,184.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,419 shares of company stock valued at $1,512,740. Insiders own 6.78% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in EBAY. BB&T Investment Services Inc. acquired a new position in shares of eBay during the 2nd quarter worth $119,000. Valeo Financial Advisors LLC acquired a new position in shares of eBay during the 3rd quarter worth $122,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of eBay during the 2nd quarter worth $123,000. Westside Investment Management Inc. increased its stake in shares of eBay by 1.7% during the 2nd quarter. Westside Investment Management Inc. now owns 3,627 shares of the e-commerce company’s stock worth $127,000 after purchasing an additional 60 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in shares of eBay during the 3rd quarter worth $139,000. Institutional investors own 85.95% of the company’s stock.
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eBay Company Profile
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
