PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Norway Savings Bank

Norway Savings Bank reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 37.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,080 shares of the credit services provider's stock after selling 3,675 shares during the quarter. Norway Savings Bank's holdings in PayPal were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of PayPal by 15.2% during the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock valued at $596,000 after buying an additional 924 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in shares of PayPal in the fourth quarter worth about $248,000. Strategic Financial Concepts LLC acquired a new stake in PayPal during the fourth quarter worth about $423,000. Kestra Investment Management LLC acquired a new stake in PayPal during the fourth quarter worth about $111,000. Finally, Bank of Jackson Hole Trust acquired a new stake in PayPal during the fourth quarter worth about $41,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Deborah M. Messemer sold 3,795 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.00, for a total value of $277,035.00. Following the sale, the director now owns 13,976 shares of the company's stock, valued at approximately $1,020,248. This trade represents a 21.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the sale, the executive vice president now directly owns 16,989 shares in the company, valued at $1,244,274.36. The trade was a 18.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,796 shares of company stock valued at $863,028. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group decreased their price objective on PayPal from $88.00 to $75.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a report on Wednesday, April 30th. Monness Crespi & Hardt reduced their target price on PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Arete Research set a $81.00 price objective on shares of PayPal in a research report on Thursday, March 27th. Finally, Macquarie dropped their price objective 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. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PayPal presently has a consensus rating of "Hold" and an average target price of $83.29.

PayPal Stock Up 2.2%

Shares of PYPL stock traded up $1.48 during trading hours on Friday, reaching $70.05. The company had a trading volume of 18,484,205 shares, compared to its average volume of 11,012,217. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The company has a market capitalization of $68.13 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 1.16 and a beta of 1.45. The stock's fifty day simple moving average is $68.98 and its 200 day simple moving average is $75.16.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its 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 company had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The business's revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 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

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.