PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Cwm LLC

CWM LLC trimmed its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 7.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,353 shares of the credit services provider's stock after selling 9,759 shares during the quarter. CWM LLC's holdings in PayPal were worth $8,440,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Greatmark Investment Partners Inc. grew its holdings in PayPal by 2.0% during the first quarter. Greatmark Investment Partners Inc. now owns 277,737 shares of the credit services provider's stock worth $18,122,000 after buying an additional 5,473 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in PayPal during the first quarter worth $80,000. Stephens Inc. AR increased its position in shares of PayPal by 4.9% during the first quarter. Stephens Inc. AR now owns 34,960 shares of the credit services provider's stock valued at $2,281,000 after acquiring an additional 1,633 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of PayPal by 4.5% during the first quarter. New York State Common Retirement Fund now owns 1,381,435 shares of the credit services provider's stock valued at $90,139,000 after acquiring an additional 59,419 shares during the last quarter. Finally, BankPlus Trust Department increased its position in shares of PayPal by 7.0% during the first quarter. BankPlus Trust Department now owns 12,640 shares of the credit services provider's stock valued at $825,000 after acquiring an additional 829 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

Insider Activity at PayPal

In related news, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction that occurred 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 completion of the transaction, the director directly owned 13,976 shares in the company, valued at approximately $1,020,248. This trade represents a 21.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the completion of the transaction, the executive vice president owned 16,989 shares of the company's stock, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their position. 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. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PYPL. Canaccord Genuity Group restated a "buy" rating and set a $96.00 price objective on shares of PayPal in a report on Wednesday, April 30th. Royal Bank Of Canada reissued an "outperform" rating and set a $88.00 price objective on shares of PayPal in a report on Thursday, June 26th. UBS Group reduced their price objective on PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Truist Financial assumed coverage on PayPal in a report on Monday, June 2nd. They set a "sell" rating and a $68.00 price objective for the company. Finally, Monness Crespi & Hardt reduced their price objective on PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $82.81.

PayPal Price Performance

PYPL stock traded down $0.03 during midday trading on Friday, hitting $73.83. The company's stock had a trading volume of 1,664,988 shares, compared to its average volume of 10,843,560. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $72.67 and a two-hundred day moving average of $73.38. The firm has a market capitalization of $71.80 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.17. The company had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. PayPal's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.08 EPS. On average, analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.