Clearline Capital LP Cuts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Clearline Capital LP cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 60.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,340 shares of the credit services provider's stock after selling 165,052 shares during the quarter. Clearline Capital LP's holdings in PayPal were worth $9,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PYPL. Hurley Capital LLC acquired a new stake in shares of PayPal during the fourth quarter worth about $27,000. Rosenberg Matthew Hamilton boosted its stake in shares of PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock valued at $26,000 after buying an additional 125 shares during the period. Sugarloaf Wealth Management LLC grew its stake in shares of PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock worth $30,000 after purchasing an additional 272 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in PayPal in the fourth quarter valued at $37,000. Finally, Crowley Wealth Management Inc. purchased a new stake in PayPal during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Stock Up 0.9 %

Shares of NASDAQ:PYPL opened at $68.69 on Thursday. The company has a 50 day moving average of $65.58 and a two-hundred day moving average of $77.86. The company has a market capitalization of $66.80 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.17. The business had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.08 EPS. As a group, analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the firm's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PYPL. JPMorgan Chase & Co. reissued an "overweight" rating on shares of PayPal in a report on Tuesday, February 4th. Bank of America reduced their target price on PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a report on Monday, April 14th. Macquarie cut their target price on shares of PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. Piper Sandler decreased their price objective on PayPal from $76.00 to $70.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Finally, Seaport Res Ptn lowered PayPal from a "hold" rating to a "strong sell" rating in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $83.68.

PayPal Profile

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.

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