M&T Bank Corp Decreases Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

M&T Bank Corp lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 8.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,269 shares of the credit services provider's stock after selling 11,706 shares during the period. M&T Bank Corp's holdings in PayPal were worth $8,043,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC purchased a new stake in shares of PayPal in the fourth quarter valued at about $25,000. Hurley Capital LLC purchased a new stake in shares of PayPal in the fourth quarter valued at about $27,000. Garde Capital Inc. purchased a new stake in shares of PayPal in the first quarter valued at about $28,000. Tsfg LLC raised its holdings in shares of PayPal by 81.6% in the first quarter. Tsfg LLC now owns 445 shares of the credit services provider's stock valued at $29,000 after purchasing an additional 200 shares during the last quarter. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of PayPal in the fourth quarter valued at about $34,000. Hedge funds and other institutional investors own 68.32% of the company's stock.

PayPal Price Performance

Shares of PYPL stock traded up $0.87 during trading hours on Thursday, hitting $75.70. 6,377,878 shares of the company's stock were exchanged, compared to its average volume of 10,816,430. The company has a market capitalization of $73.62 billion, a PE ratio of 16.94, a PEG ratio of 1.23 and a beta of 1.45. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The business's 50 day simple moving average is $72.02 and its 200-day simple moving average is $73.95. 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 (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.16 by $0.17. The firm had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The business's revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current 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 directly owned 48,483 shares of the company's stock, valued at approximately $3,550,894.92. This trade represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of PayPal 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 transaction, the director directly owned 13,976 shares in the company, valued at approximately $1,020,248. The trade was a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,796 shares of company stock valued at $863,028. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PYPL. Macquarie reduced their price target on shares of PayPal from $117.00 to $95.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Piper Sandler upgraded shares of PayPal to a "neutral" rating and set a $74.00 price target for the company in a research report on Tuesday, June 24th. Wall Street Zen upgraded shares of PayPal from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. UBS Group cut their target price on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Finally, Evercore ISI began coverage on shares of PayPal in a research report on Wednesday, April 9th. They set an "in-line" rating and a $65.00 target price for the company. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, PayPal has a consensus rating of "Hold" and an average target price of $83.42.

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.