Bank of America Cuts eBay (NASDAQ:EBAY) Price Target to $71.00

eBay (NASDAQ:EBAY) had its price target decreased by equities research analysts at Bank of America from $72.00 to $71.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the e-commerce company’s stock. Bank of America‘s price objective would suggest a potential upside of 9.67% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company upped their price target on shares of eBay from $59.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. UBS Group upped their target price on shares of eBay from $66.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, February 24th. Sanford C. Bernstein raised eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a report on Tuesday, November 5th. Citigroup upped their price objective on eBay from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Finally, JMP Securities reissued a “market perform” rating on shares of eBay in a research note on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, eBay has a consensus rating of “Hold” and a consensus target price of $65.33.

eBay Trading Up 2.0 %

Shares of NASDAQ:EBAY opened at $64.74 on Thursday. The stock has a 50 day moving average of $66.22 and a 200 day moving average of $63.73. The company has a market cap of $31.01 billion, a PE ratio of 16.27, a price-to-earnings-growth ratio of 2.22 and a beta of 1.35. eBay has a 12-month low of $47.06 and a 12-month high of $71.61. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14.

Insider Transactions at eBay

In related news, CFO Stephen J. Priest sold 1,033 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $64.93, for a total value of $67,072.69. Following the transaction, the chief financial officer now owns 65,080 shares of the company’s stock, valued at $4,225,644.40. This represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $67.25, for a total value of $378,281.25. Following the sale, the chief executive officer now directly owns 530,998 shares of the company’s stock, valued at approximately $35,709,615.50. This trade represents a 1.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,149 shares of company stock worth $1,746,065. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

Institutional investors have recently made changes to their positions in the company. Integrated Advisors Network LLC purchased a new stake in eBay in the fourth quarter worth about $210,000. Ameriflex Group Inc. purchased a new stake in shares of eBay in the 4th quarter worth approximately $38,000. Ascent Group LLC boosted its stake in shares of eBay by 8.2% during the fourth quarter. Ascent Group LLC now owns 13,450 shares of the e-commerce company’s stock valued at $833,000 after purchasing an additional 1,024 shares in the last quarter. Mackenzie Financial Corp increased its holdings in eBay by 17.4% during the fourth quarter. Mackenzie Financial Corp now owns 105,665 shares of the e-commerce company’s stock valued at $6,546,000 after buying an additional 15,639 shares during the period. Finally, Forum Financial Management LP increased its holdings in eBay by 43.2% during the fourth quarter. Forum Financial Management LP now owns 4,680 shares of the e-commerce company’s stock valued at $290,000 after buying an additional 1,411 shares during the period. Hedge funds and other institutional investors 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.