PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 11.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,290 shares of the credit services provider's stock after selling 7,727 shares during the period. Avantax Advisory Services Inc.'s holdings in PayPal were worth $3,803,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PYPL. Mpwm Advisory Solutions LLC bought a new stake in PayPal in the 4th quarter worth approximately $25,000. Hurley Capital LLC purchased a new position in shares of PayPal in the fourth quarter valued at $27,000. Garde Capital Inc. bought a new stake in PayPal in the first quarter worth $28,000. Tsfg LLC raised its stake in PayPal by 81.6% during the first quarter. Tsfg LLC now owns 445 shares of the credit services provider's stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Finally, Bernard Wealth Management Corp. bought a new position in PayPal during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 68.32% of the company's stock.

Insider Transactions at PayPal

In related news, insider Suzan Kereere sold 4,162 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $304,824.88. Following the sale, the insider owned 48,483 shares in the company, valued at $3,550,894.92. This represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Diego Scotti sold 3,839 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $281,168.36. Following the completion of the transaction, the executive vice president owned 16,989 shares in the company, valued at approximately $1,244,274.36. This trade represents a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,796 shares of company stock worth $863,028 over the last three months. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays restated an "overweight" rating on shares of PayPal in a report on Tuesday. Citigroup reiterated a "buy" rating on shares of PayPal in a report on Tuesday. Truist Financial initiated coverage on PayPal in a research report on Monday, June 2nd. They issued a "sell" rating and a $68.00 price target for the company. Evercore ISI began coverage on shares of PayPal in a research report on Wednesday, April 9th. They set an "in-line" rating and a $65.00 price objective on the stock. Finally, UBS Group lowered their target price on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $84.57.

PayPal Stock Performance

Shares of NASDAQ PYPL traded down $1.89 during midday trading on Friday, reaching $66.87. The company had a trading volume of 7,708,933 shares, compared to its average volume of 11,221,337. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The business's 50-day simple moving average is $73.20 and its 200 day simple moving average is $72.55. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market cap of $63.89 billion, a P/E ratio of 14.29, a P/E/G ratio of 1.11 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.10. PayPal had a return on equity of 25.35% and a net margin of 14.49%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.08 billion. During the same quarter last year, the business posted $1.19 EPS. On average, analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

About PayPal

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.