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PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by King Luther Capital Management Corp

PayPal logo with Business Services background

Key Points

  • King Luther Capital Management Corp has reduced its stake in PayPal Holdings, Inc. by 8.3%, selling 49,477 shares and retaining approximately 0.06% of the company, valued at $35,568,000.
  • Insider trading activity remains notable as CAO Chris Natali and EVP Diego Scotti sold shares, with insiders collectively selling 22,736 shares worth $1,620,835 over the last quarter.
  • PayPal's stock currently has a market cap of $64.63 billion and a consensus analyst rating of "Hold," with a target price set at $85.00.
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King Luther Capital Management Corp lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 545,107 shares of the credit services provider's stock after selling 49,477 shares during the quarter. King Luther Capital Management Corp owned approximately 0.06% of PayPal worth $35,568,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mpwm Advisory Solutions LLC acquired a new position in shares of PayPal during the 4th quarter valued at about $25,000. Evermay Wealth Management LLC increased its stake in shares of PayPal by 726.0% during the 1st quarter. Evermay Wealth Management LLC now owns 413 shares of the credit services provider's stock valued at $27,000 after acquiring an additional 363 shares during the last quarter. Garde Capital Inc. acquired a new position in shares of PayPal during the 1st quarter valued at about $28,000. Tsfg LLC increased its stake in shares of PayPal by 81.6% during the 1st quarter. Tsfg LLC now owns 445 shares of the credit services provider's stock valued at $29,000 after acquiring an additional 200 shares during the last quarter. Finally, Bernard Wealth Management Corp. acquired a new position in shares of PayPal during the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 68.32% of the company's stock.

Insiders Place Their Bets

In related news, insider Suzan Kereere sold 4,162 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the sale, the insider directly owned 48,483 shares in the company, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the transaction, the director 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. In the last three months, insiders have sold 22,736 shares of company stock valued at $1,620,835. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PYPL. Truist Financial began coverage on shares of PayPal in a research report on Monday, June 2nd. They set a "sell" rating and a $68.00 target price for the company. Morgan Stanley restated a "positive" rating on shares of PayPal in a report on Wednesday, July 30th. Wells Fargo & Company decreased their price target on PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Canaccord Genuity Group restated a "buy" rating and issued a $96.00 price target on shares of PayPal in a report on Wednesday, July 30th. Finally, BMO Capital Markets restated a "market perform" rating on shares of PayPal in a report on Tuesday, July 29th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, PayPal currently has an average rating of "Hold" and a consensus price target of $85.00.

Check Out Our Latest Stock Report on PYPL

PayPal Trading Down 0.8%

Shares of PayPal stock traded down $0.57 during trading on Friday, hitting $67.65. 9,663,964 shares of the company were exchanged, compared to its average volume of 12,859,930. The firm has a market capitalization of $64.63 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 1.04 and a beta of 1.42. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The firm's fifty day moving average price is $72.89 and its 200 day moving average price is $71.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.33.

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

PayPal Company Profile

(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.

Read More

Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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