Avanza Fonder AB Sells 9,744 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Avanza Fonder AB trimmed its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 14.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,855 shares of the credit services provider's stock after selling 9,744 shares during the quarter. Avanza Fonder AB's holdings in PayPal were worth $4,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Mpwm Advisory Solutions LLC acquired a new position in PayPal in the fourth quarter worth approximately $25,000. Hurley Capital LLC acquired a new position in PayPal during the fourth quarter valued at approximately $27,000. Bernard Wealth Management Corp. acquired a new position in PayPal during the fourth quarter valued at approximately $34,000. Pinney & Scofield Inc. acquired a new position in PayPal during the fourth quarter valued at approximately $35,000. Finally, Fourth Dimension Wealth LLC acquired a new position in PayPal during the fourth quarter valued at approximately $38,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Deborah M. Messemer sold 3,795 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the transaction, the director now directly owns 13,976 shares in the company, valued at approximately $1,020,248. The trade was a 21.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Diego Scotti sold 3,839 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the transaction, the executive vice president now owns 16,989 shares of the company's stock, valued at $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. 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 company insiders.

PayPal Price Performance

Shares of NASDAQ:PYPL traded up $0.20 during midday trading on Thursday, reaching $74.81. The company's stock had a trading volume of 8,638,641 shares, compared to its average volume of 11,012,044. 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 market capitalization of $72.76 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.27 and a beta of 1.45. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The business's fifty day simple moving average is $67.88 and its 200-day simple moving average is $75.93.

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

Analysts Set New Price Targets

Several equities analysts have commented on the company. Morgan Stanley increased their price target on PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Canaccord Genuity Group reiterated a "buy" rating and set a $96.00 price target on shares of PayPal in a report on Wednesday, April 30th. DZ Bank upgraded PayPal from a "hold" rating to a "buy" rating and set a $92.00 price target on the stock in a report on Friday, February 28th. Piper Sandler lowered their price objective on shares of PayPal from $76.00 to $70.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, Macquarie lowered their price objective on shares of PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $83.29.

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.