Fidelis Capital Partners LLC Sells 3,584 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Fidelis Capital Partners LLC lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 22.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,282 shares of the credit services provider's stock after selling 3,584 shares during the period. Fidelis Capital Partners LLC's holdings in PayPal were worth $803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in PayPal in the 4th quarter worth about $1,086,508,000. Capital Research Global Investors lifted its position in shares of PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock worth $1,529,823,000 after acquiring an additional 9,313,783 shares during the period. Artisan Partners Limited Partnership lifted its position in shares of PayPal by 284.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider's stock worth $666,100,000 after buying an additional 5,772,198 shares during the period. FMR LLC increased its holdings in PayPal by 12.9% during the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock valued at $1,615,134,000 after purchasing an additional 2,161,582 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in PayPal by 124.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider's stock valued at $228,206,000 after purchasing an additional 1,936,520 shares in the last quarter. Institutional investors own 68.32% of the company's stock.

Insider Activity

In other PayPal news, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction on Friday, June 6th. The shares were 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 approximately $1,244,274.36. The trade was a 18.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the sale, the director owned 13,976 shares in the company, valued at approximately $1,020,248. This represents a 21.36% 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 worth $863,028 in the last three months. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Monness Crespi & Hardt decreased their price objective on PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Barclays cut their price target on PayPal from $110.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Canaccord Genuity Group restated a "buy" rating and set a $96.00 target price on shares of PayPal in a research note on Wednesday, April 30th. Compass Point assumed coverage on PayPal in a report on Wednesday, April 23rd. They issued a "sell" rating and a $56.00 price objective for the company. Finally, Truist Financial initiated coverage on PayPal in a report on Monday, June 2nd. They set a "sell" rating and a $68.00 price target for the company. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, PayPal currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.42.

PayPal Stock Down 1.3%

Shares of NASDAQ PYPL traded down $0.93 on Tuesday, reaching $72.96. 7,320,257 shares of the company's stock traded hands, compared to its average volume of 10,869,466. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The business's 50 day simple moving average is $72.42 and its two-hundred day simple moving average is $73.46. The company has a market cap of $70.96 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.17 and a beta of 1.45. 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 (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.17. The firm had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 EPS. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

PayPal Profile

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.