Harvest Fund Management Co. Ltd Sells 28,133 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Harvest Fund Management Co. Ltd lowered its stake in PayPal by 31% during the 1st quarter, selling 28,133 shares and leaving it with 62,490 shares worth approximately $4.08 million.
• PayPal's stock currently holds an average rating of "Hold" with a consensus price target of $83.13, as multiple analysts adjust their price targets following recent market assessments.
• Recent insider trading activity included sales by Director Deborah M. Messemer and another insider, indicating a combined share sale of over 11,000 shares in the last three months.

Harvest Fund Management Co. Ltd reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 31.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 62,490 shares of the credit services provider's stock after selling 28,133 shares during the period. Harvest Fund Management Co. Ltd's holdings in PayPal were worth $4,075,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. S&CO Inc. raised its holdings in PayPal by 3.6% during the 1st quarter. S&CO Inc. now owns 187,119 shares of the credit services provider's stock worth $12,209,000 after buying an additional 6,501 shares during the period. Banque Cantonale Vaudoise bought a new stake in shares of PayPal in the first quarter worth $1,373,000. RD Finance Ltd bought a new stake in shares of PayPal in the first quarter worth $2,262,000. N.E.W. Advisory Services LLC bought a new stake in shares of PayPal in the first quarter worth $105,000. Finally, Marco Investment Management LLC lifted its position in shares of PayPal by 1.3% in the first quarter. Marco Investment Management LLC now owns 45,808 shares of the credit services provider's stock worth $2,989,000 after purchasing an additional 600 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Diego Scotti sold 3,839 shares of the business's 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 transaction, the executive vice president directly owned 16,989 shares of the company's stock, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of the business's 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 transaction, the director directly owned 13,976 shares in the company, 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. Insiders have sold 11,796 shares of company stock valued at $863,028 in the last three months. 0.08% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PYPL shares. Evercore ISI started coverage on PayPal in a report on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 price objective for the company. Monness Crespi & Hardt lowered their target price on shares of PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Needham & Company LLC restated a "hold" rating on shares of PayPal in a report on Wednesday, April 30th. Compass Point initiated coverage on shares of PayPal in a report on Wednesday, April 23rd. They set a "sell" rating and a $56.00 target price on the stock. Finally, Macquarie restated an "outperform" rating and set a $95.00 target price on shares of PayPal in a report on Wednesday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, PayPal has an average rating of "Moderate Buy" and a consensus price target of $84.57.

PayPal Trading Down 2.4%

NASDAQ PYPL traded down $1.65 during trading hours on Friday, reaching $67.11. The company's stock had a trading volume of 14,892,824 shares, compared to its average volume of 11,250,775. The firm has a fifty day simple moving average of $73.20 and a 200-day simple moving average of $72.55. The stock has a market cap of $64.12 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.11 and a beta of 1.45. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.30.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.10. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.08 billion. PayPal had a net margin of 14.49% and a return on equity of 25.35%. During the same quarter in the previous year, the business posted $1.19 EPS. Equities analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

PayPal Company 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.