KLP Kapitalforvaltning AS Sells 9,200 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

KLP Kapitalforvaltning AS lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 427,445 shares of the credit services provider's stock after selling 9,200 shares during the quarter. KLP Kapitalforvaltning AS's holdings in PayPal were worth $27,891,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Security National Bank of SO Dak raised its stake in PayPal by 1.1% during the 4th quarter. Security National Bank of SO Dak now owns 12,191 shares of the credit services provider's stock worth $1,041,000 after buying an additional 137 shares during the period. Cohen & Steers Inc. raised its stake in PayPal by 5.1% during the 4th quarter. Cohen & Steers Inc. now owns 3,016 shares of the credit services provider's stock worth $257,000 after buying an additional 145 shares during the period. Redwood Financial Network Corp raised its stake in PayPal by 4.8% during the 4th quarter. Redwood Financial Network Corp now owns 3,208 shares of the credit services provider's stock worth $274,000 after buying an additional 147 shares during the period. DMC Group LLC raised its stake in shares of PayPal by 2.0% in the 1st quarter. DMC Group LLC now owns 7,948 shares of the credit services provider's stock valued at $519,000 after purchasing an additional 155 shares during the period. Finally, Bryn Mawr Capital Management LLC raised its stake in shares of PayPal by 4.5% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 3,590 shares of the credit services provider's stock valued at $234,000 after purchasing an additional 155 shares during the period. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Price Performance

NASDAQ:PYPL traded up $0.16 during trading hours on Friday, reaching $77.98. 6,882,061 shares of the company were exchanged, compared to its average volume of 8,787,694. The company has a market capitalization of $75.84 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.28 and a beta of 1.45. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The business has a 50 day moving average of $73.19 and a 200 day moving average of $72.93.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.16 by $0.17. The business had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.08 earnings per share. Research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 3,795 shares of the company's stock in a transaction on 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 sale, the director directly owned 13,976 shares in the company, valued at $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $304,824.88. Following the sale, the insider owned 48,483 shares of the company's stock, valued at $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,796 shares of company stock worth $863,028 over the last three months. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on PYPL. Barclays lifted their price target on PayPal from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Canaccord Genuity Group reissued a "buy" rating and issued a $96.00 price target on shares of PayPal in a research note on Wednesday, April 30th. Citigroup dropped their price target on PayPal from $98.00 to $95.00 and set a "buy" rating on the stock in a research note on Tuesday, May 6th. Compass Point began coverage on PayPal in a research note on Wednesday, April 23rd. They issued a "sell" rating and a $56.00 price target on the stock. Finally, Piper Sandler raised PayPal to a "neutral" rating and set a $74.00 price target on the stock in a research note on Tuesday, June 24th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal currently has an average rating of "Hold" and an average price target of $83.13.

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.