PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Holdings Lessened by Banque Pictet & Cie SA

Banque Pictet & Cie SA lessened its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 19.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,338 shares of the credit services provider's stock after selling 39,524 shares during the period. Banque Pictet & Cie SA's holdings in PayPal were worth $10,984,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new position in PayPal in the 4th quarter valued at about $25,000. Hurley Capital LLC acquired a new position in PayPal in the 4th quarter valued at about $27,000. Bernard Wealth Management Corp. acquired a new stake in shares of PayPal in the 4th quarter valued at approximately $34,000. Pinney & Scofield Inc. purchased a new stake in shares of PayPal in the fourth quarter valued at approximately $35,000. Finally, Garde Capital Inc. purchased a new stake in shares of PayPal in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 68.32% of the company's stock.

Insider Activity at PayPal

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Robert W. Baird lifted their price target on PayPal from $78.00 to $79.00 and gave the company an "outperform" rating in a research note on Wednesday, April 30th. Arete Research set a $81.00 price target on PayPal in a research note on Thursday, March 27th. Monness Crespi & Hardt decreased their price target on PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Piper Sandler raised PayPal to a "neutral" rating and set a $74.00 price target on the stock in a research note on Tuesday, June 24th. Finally, UBS Group decreased their price target on PayPal from $88.00 to $75.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, PayPal presently has a consensus rating of "Hold" and a consensus target price of $83.42.

PayPal Stock Down 0.3%

Shares of PayPal stock traded down $0.20 during trading hours on Wednesday, hitting $74.83. 6,753,162 shares of the company's stock traded hands, compared to its average volume of 10,824,788. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The stock has a 50 day simple moving average of $71.84 and a 200-day simple moving average of $73.94. The company has a market cap of $72.77 billion, a PE ratio of 16.74, a PEG ratio of 1.24 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.16 by $0.17. The business had revenue of $7.79 billion for the quarter, compared to analysts' expectations of $7.84 billion. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The company's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.08 earnings per share. Equities research analysts anticipate 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.