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LGT Fund Management Co Ltd. Cuts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

PayPal logo with Business Services background

Key Points

  • LGT Fund Management Co Ltd. reduced its stake in PayPal by 84.1%, selling 159,000 shares during the first quarter and now holding only 30,000 shares valued at $1.96 million.
  • PayPal's stock opened at $67.08 with a market cap of $64.09 billion, reflecting a 12-month stock range between $55.85 and $93.66.
  • PayPal recently reported earnings of $1.40 EPS, exceeding analysts' expectations, with revenue of $8.29 billion for the quarter.
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LGT Fund Management Co Ltd. lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 84.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,000 shares of the credit services provider's stock after selling 159,000 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in PayPal were worth $1,958,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in PayPal by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 86,221,849 shares of the credit services provider's stock valued at $5,625,976,000 after acquiring an additional 276,339 shares in the last quarter. Capital Research Global Investors boosted its position in PayPal by 108.2% during the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock valued at $1,529,823,000 after purchasing an additional 9,313,783 shares in the last quarter. Deutsche Bank AG raised its holdings in PayPal by 19.1% in the first quarter. Deutsche Bank AG now owns 11,238,218 shares of the credit services provider's stock worth $733,294,000 after purchasing an additional 1,798,330 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of PayPal by 19.0% in the 4th quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock valued at $892,953,000 after buying an additional 1,669,908 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of PayPal by 14.9% in the 1st quarter. Invesco Ltd. now owns 9,516,070 shares of the credit services provider's stock worth $620,924,000 after buying an additional 1,232,155 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Diego Scotti sold 3,839 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the sale, the executive vice president directly owned 16,989 shares of the company's stock, valued at $1,244,274.36. This represents a 18.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Chris Natali sold 7,102 shares of PayPal stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $69.35, for a total value of $492,523.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,736 shares of company stock worth $1,620,835. 0.08% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have issued reports on PYPL shares. Morgan Stanley reaffirmed a "positive" rating on shares of PayPal in a report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft set a $75.00 target price on PayPal in a research note on Tuesday, July 29th. BMO Capital Markets reiterated a "market perform" rating on shares of PayPal in a research note on Tuesday, July 29th. Bank of America lowered their price target on PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Piper Sandler set a $74.00 price objective 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 assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $85.00.

Get Our Latest Analysis on PayPal

PayPal Stock Performance

PayPal stock traded up $0.89 during mid-day trading on Tuesday, hitting $67.97. The company had a trading volume of 9,746,637 shares, compared to its average volume of 12,716,168. The company has a market capitalization of $64.94 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 1.03 and a beta of 1.42. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The company's fifty day moving average is $72.75 and its 200-day moving average is $71.22. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56.

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

PayPal 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.

See Also

Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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