Envestnet Portfolio Solutions Inc. cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 18.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,907 shares of the credit services provider's stock after selling 8,641 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in PayPal were worth $2,539,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. J. Goldman & Co LP boosted its stake in PayPal by 11.9% during the fourth quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider's stock worth $22,304,000 after buying an additional 27,812 shares during the period. Nikko Asset Management Americas Inc. lifted its holdings in shares of PayPal by 2.7% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider's stock worth $59,489,000 after acquiring an additional 18,172 shares during the last quarter. ExodusPoint Capital Management LP boosted its stake in shares of PayPal by 223.1% during the 4th quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider's stock worth $22,622,000 after purchasing an additional 183,011 shares during the period. StoneX Group Inc. grew its holdings in PayPal by 70.4% during the 4th quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider's stock valued at $2,326,000 after purchasing an additional 11,260 shares during the last quarter. Finally, Ring Mountain Capital LLC purchased a new stake in PayPal in the 4th quarter worth about $581,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
PayPal Trading Up 2.2%
Shares of NASDAQ:PYPL opened at $70.05 on Monday. The business's 50-day moving average is $68.98 and its 200 day moving average is $75.06. 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 1 year low of $55.85 and a 1 year high of $93.66. The firm has a market capitalization of $68.13 billion, a P/E ratio of 15.67, a P/E/G ratio of 1.16 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 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.17. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The business had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. During the same quarter in the previous year, the firm earned $1.08 earnings per share. The company's revenue was up 1.2% on a year-over-year basis. On average, research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.
Insider Activity
In other PayPal news, Director Deborah M. Messemer sold 3,795 shares of PayPal 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 sale, the director now owns 13,976 shares of the company's stock, valued at approximately $1,020,248. The trade was a 21.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Suzan Kereere sold 4,162 shares of the firm'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 $304,824.88. Following the completion of the transaction, the insider now owns 48,483 shares of the company's stock, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,796 shares of company stock valued at $863,028 over the last ninety days. 0.08% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on PYPL. Citigroup dropped their target price on PayPal from $98.00 to $95.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Royal Bank Of Canada reduced their target price on PayPal from $104.00 to $88.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Canaccord Genuity Group reiterated a "buy" rating and set a $96.00 target price on shares of PayPal in a research report on Wednesday, April 30th. Robert W. Baird upped their price target on shares of PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Morgan Stanley lifted their price objective on shares of PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $83.29.
Get Our Latest Stock Analysis on PayPal
About PayPal
(
Free Report)
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.
Further Reading
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