eBay (NASDAQ:EBAY) Coverage Initiated at Wedbush

Wedbush assumed coverage on shares of eBay (NASDAQ:EBAY) in a research report issued on Monday, MarketBeat.com reports. The firm set a “neutral” rating and a $70.00 price target on the e-commerce company’s stock. Wedbush’s target price would indicate a potential upside of 10.71% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Piper Sandler boosted their price objective on shares of eBay from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. dropped their price objective on shares of eBay from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company decreased their target price on shares of eBay from $63.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. TD Cowen boosted their target price on shares of eBay from $45.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Jefferies Financial Group boosted their target price on shares of eBay from $58.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, sixteen have issued 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 price target of $62.63.

eBay Stock Performance

Shares of EBAY opened at $63.23 on Monday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $30.29 billion, a P/E ratio of 15.89, a P/E/G ratio of 1.67 and a beta of 1.35. The company’s fifty day moving average is $63.54 and its two-hundred day moving average is $58.91. eBay has a 1 year low of $40.16 and a 1 year high of $67.80.

Insider Activity at eBay

In other news, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the completion of the transaction, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. This represents a 26.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $59.91, for a total transaction of $336,993.75. Following the transaction, the chief executive officer now directly owns 548,042 shares of the company’s stock, valued at approximately $32,833,196.22. This represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,641 shares of company stock valued at $3,370,974. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC increased its position in eBay by 6.5% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 13,458 shares of the e-commerce company’s stock worth $723,000 after purchasing an additional 821 shares in the last quarter. Wedmont Private Capital increased its position in eBay by 13.1% during the 2nd quarter. Wedmont Private Capital now owns 6,882 shares of the e-commerce company’s stock worth $373,000 after purchasing an additional 796 shares in the last quarter. Friedenthal Financial acquired a new stake in eBay during the 2nd quarter worth approximately $51,000. V Square Quantitative Management LLC increased its position in eBay by 24.1% during the 2nd quarter. V Square Quantitative Management LLC now owns 15,061 shares of the e-commerce company’s stock worth $809,000 after purchasing an additional 2,929 shares in the last quarter. Finally, PGGM Investments increased its position in eBay by 88.0% during the 2nd quarter. PGGM Investments now owns 61,115 shares of the e-commerce company’s stock worth $3,283,000 after purchasing an additional 28,604 shares in the last quarter. 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.