Essex LLC Reduces Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Essex LLC cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 12.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,891 shares of the credit services provider's stock after selling 3,418 shares during the period. Essex LLC's holdings in PayPal were worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of PYPL. Geode Capital Management LLC lifted its holdings in shares of PayPal by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock worth $1,849,884,000 after acquiring an additional 271,836 shares during the last quarter. FMR LLC lifted its stake in PayPal by 12.9% in the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock worth $1,615,134,000 after purchasing an additional 2,161,582 shares during the last quarter. Capital Research Global Investors boosted its position in shares of PayPal by 108.2% during the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock valued at $1,529,823,000 after buying an additional 9,313,783 shares during the period. Norges Bank purchased a new position in shares of PayPal during the fourth quarter valued at approximately $1,086,508,000. Finally, Northern Trust Corp grew its stake in shares of PayPal by 19.0% during the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock valued at $892,953,000 after buying an additional 1,669,908 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Price Performance

Shares of PYPL opened at $73.64 on Monday. The company has a 50 day moving average of $70.16 and a two-hundred day moving average of $74.48. 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 company has a market cap of $71.62 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating 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 analyst estimates of $7.84 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Robert W. Baird boosted their price objective on PayPal from $78.00 to $79.00 and gave the company an "outperform" rating in a report on Wednesday, April 30th. Piper Sandler upgraded PayPal to a "neutral" rating and set a $74.00 target price for the company in a research report on Tuesday, June 24th. Arete Research set a $81.00 price target on shares of PayPal in a report on Thursday, March 27th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $88.00 price target on shares of PayPal in a research note on Thursday. Finally, Barclays lowered their price objective on shares of PayPal from $110.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PayPal has an average rating of "Hold" and a consensus target price of $83.42.

Insider Buying and Selling at PayPal

In other PayPal news, insider Suzan Kereere sold 4,162 shares of the company'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 transaction of $304,824.88. Following the transaction, the insider now owns 48,483 shares in the company, valued at approximately $3,550,894.92. This represents a 7.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $281,168.36. Following the sale, 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. Over the last ninety days, insiders sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is owned by insiders.

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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