Atria Wealth Solutions Inc. Reduces Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Atria Wealth Solutions Inc. has decreased its holdings in PayPal Holdings, Inc. by 21.9%, selling 7,983 shares and bringing their total to 28,495 shares valued at approximately $1.86 million.
• PayPal's stock opened at $67.65 on Friday, demonstrating a slight 0.8% decline, with a market capitalization of $64.63 billion.
• Analysts have mixed opinions on PayPal, with two giving sell ratings, fourteen issuing hold ratings, and eighteen recommending buy ratings, resulting in an average target price of $85.00.

Atria Wealth Solutions Inc. reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 21.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,495 shares of the credit services provider's stock after selling 7,983 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in PayPal were worth $1,859,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PYPL. Brighton Jones LLC increased its holdings in PayPal by 15.2% in the 4th quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock worth $596,000 after buying an additional 924 shares during the period. Revolve Wealth Partners LLC purchased a new stake in PayPal during the fourth quarter worth about $248,000. Martingale Asset Management L P acquired a new position in PayPal in the fourth quarter valued at approximately $459,000. Bessemer Group Inc. boosted its holdings in shares of PayPal by 7.1% in the fourth quarter. Bessemer Group Inc. now owns 15,715 shares of the credit services provider's stock valued at $1,340,000 after acquiring an additional 1,035 shares during the period. Finally, Jaffetilchin Investment Partners LLC raised its stake in shares of PayPal by 14.1% during the fourth quarter. Jaffetilchin Investment Partners LLC now owns 9,546 shares of the credit services provider's stock worth $815,000 after purchasing an additional 1,180 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PYPL shares. Barclays restated an "overweight" rating on shares of PayPal in a research note on Tuesday, July 29th. Morgan Stanley reiterated a "positive" rating on shares of PayPal in a research report on Wednesday, July 30th. Canaccord Genuity Group reiterated a "buy" rating and issued a $96.00 price objective on shares of PayPal in a research report on Wednesday, July 30th. JMP Securities decreased their price objective on PayPal from $110.00 to $100.00 and set a "market outperform" rating for the company in a research note on Wednesday, July 30th. Finally, Wall Street Zen raised PayPal from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $85.00.

PayPal Stock Performance

Shares of PYPL traded down $0.57 during mid-day trading on Friday, hitting $67.65. 9,663,964 shares of the company's stock were exchanged, compared to its average volume of 12,859,930. The firm has a market capitalization of $64.63 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.04 and a beta of 1.42. The business's 50 day moving average is $72.89 and its two-hundred day moving average is $71.40. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.10. The firm had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.08 billion. PayPal had a return on equity of 25.35% and a net margin of 14.49%. During the same period in the previous year, the company earned $1.19 earnings per share. On average, equities analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insider Buying and Selling at PayPal

In other PayPal news, CAO Chris Natali sold 7,102 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $69.35, for a total transaction of $492,523.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the sale, the insider owned 48,483 shares in the company, valued at $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,736 shares of company stock worth $1,620,835 in the last 90 days. Corporate insiders own 0.08% of the company's stock.

PayPal Company 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.