Cerity Partners LLC Sells 3,554 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Cerity Partners LLC trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 292,436 shares of the credit services provider's stock after selling 3,554 shares during the period. Cerity Partners LLC's holdings in PayPal were worth $19,081,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PYPL. J. Goldman & Co LP increased its position in shares of PayPal by 11.9% in the fourth quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider's stock valued at $22,304,000 after acquiring an additional 27,812 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in shares of PayPal by 2.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider's stock valued at $59,489,000 after acquiring an additional 18,172 shares during the last quarter. ExodusPoint Capital Management LP increased its position in PayPal by 223.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider's stock worth $22,622,000 after buying an additional 183,011 shares during the last quarter. StoneX Group Inc. increased its position in PayPal by 70.4% during the fourth quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider's stock worth $2,326,000 after buying an additional 11,260 shares during the last quarter. Finally, Proffitt & Goodson Inc. acquired a new position in PayPal during the first quarter worth approximately $535,000. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on PYPL shares. BMO Capital Markets lowered their price target on PayPal from $83.00 to $79.00 and set a "market perform" rating on the stock in a research report on Wednesday, April 30th. Royal Bank Of Canada reissued an "outperform" rating and set a $88.00 price target on shares of PayPal in a research report on Thursday, June 26th. Canaccord Genuity Group reissued a "buy" rating and set a $96.00 price target on shares of PayPal in a research report on Wednesday, April 30th. Piper Sandler upgraded PayPal to a "neutral" rating and set a $74.00 price objective for the company in a report on Tuesday, June 24th. Finally, Bank of America reduced their price objective on PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a report on Monday, April 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, PayPal currently has an average rating of "Hold" and an average target price of $83.42.

Insider Transactions at PayPal

In other news, EVP Diego Scotti sold 3,839 shares of the company's stock in a transaction on Friday, June 6th. The shares were 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 directly owned 16,989 shares in the company, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.00, for a total transaction of $277,035.00. Following the transaction, the director owned 13,976 shares of the company's stock, valued at $1,020,248. This trade represents a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,796 shares of company stock worth $863,028. Corporate insiders own 0.08% of the company's stock.

PayPal Stock Down 5.7%

NASDAQ PYPL opened at $71.36 on Monday. The business has a fifty day moving average price of $72.31 and a two-hundred day moving average price of $73.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The stock has a market capitalization of $69.40 billion, a PE ratio of 15.96, a PEG ratio of 1.17 and a beta of 1.45.

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

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