Kingsview Wealth Management LLC Has $1.21 Million Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Kingsview Wealth Management LLC lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 17.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,596 shares of the credit services provider's stock after selling 4,050 shares during the period. Kingsview Wealth Management LLC's holdings in PayPal were worth $1,213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PYPL. Mpwm Advisory Solutions LLC bought a new position in PayPal in the fourth quarter valued at approximately $25,000. Hurley Capital LLC acquired a new stake in PayPal in the 4th quarter valued at $27,000. Garde Capital Inc. acquired a new stake in PayPal in the 1st quarter valued at $28,000. Tsfg LLC increased its stake in PayPal by 81.6% in the 1st quarter. Tsfg LLC now owns 445 shares of the credit services provider's stock valued at $29,000 after buying an additional 200 shares during the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in PayPal in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 68.32% of the company's stock.

PayPal Trading Up 0.4%

Shares of PYPL stock opened at $74.17 on Monday. The stock has a 50 day simple moving average of $72.75 and a 200 day simple moving average of $73.13. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The stock has a market cap of $72.13 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.22 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.17. The company had revenue of $7.79 billion during the quarter, compared to analysts' expectations of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. PayPal's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 EPS. On average, research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PayPal news, insider Suzan Kereere sold 4,162 shares of PayPal 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 owned 48,483 shares of the company's stock, valued at $3,550,894.92. This trade represents a 7.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the business's 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 transaction, the director owned 13,976 shares of the company's stock, 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 a total of 11,796 shares of company stock valued at $863,028 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PYPL has been the topic of several recent analyst reports. Canaccord Genuity Group restated a "buy" rating and set a $96.00 price objective on shares of PayPal in a research note on Wednesday, April 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a report on Wednesday, April 30th. Bank of America cut their price target on shares of PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a report on Monday, April 14th. Deutsche Bank Aktiengesellschaft began coverage on shares of PayPal in a research note on Thursday. They issued a "hold" rating and a $75.00 price objective for the company. Finally, Wells Fargo & Company decreased their price target on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $83.13.

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.

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