Oppenheimer & Co. Inc. Cuts Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Oppenheimer & Co. Inc. decreased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 17.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,224 shares of the credit services provider's stock after selling 11,488 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in PayPal were worth $3,538,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of PayPal by 15.2% during the 4th quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock valued at $596,000 after acquiring an additional 924 shares during the last quarter. Revolve Wealth Partners LLC bought a new position in PayPal during the fourth quarter valued at $248,000. Y Intercept Hong Kong Ltd purchased a new position in shares of PayPal in the 4th quarter worth $1,348,000. IFP Advisors Inc grew its stake in shares of PayPal by 55.7% in the 4th quarter. IFP Advisors Inc now owns 12,220 shares of the credit services provider's stock worth $1,043,000 after buying an additional 4,370 shares in the last quarter. Finally, Crestwood Advisors Group LLC increased its holdings in shares of PayPal by 22.6% in the 4th quarter. Crestwood Advisors Group LLC now owns 4,516 shares of the credit services provider's stock worth $385,000 after buying an additional 831 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Arete Research set a $81.00 price target on shares of PayPal in a report on Thursday, March 27th. Bank of America dropped their target price on PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a report on Monday, April 14th. Barclays decreased their price target on PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Wall Street Zen raised shares of PayPal from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Needham & Company LLC reiterated a "hold" rating on shares of PayPal in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, PayPal has an average rating of "Hold" and an average target price of $83.42.

PayPal Stock Performance

PayPal stock traded down $0.05 during midday trading on Friday, hitting $73.12. 2,128,921 shares of the company were exchanged, compared to its average volume of 10,960,056. The business has a fifty day simple moving average of $69.90 and a two-hundred day simple moving average of $74.80. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market capitalization of $71.11 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 1.21 and a beta of 1.45. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66.

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

Insider Activity at PayPal

In related news, 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 value of $277,035.00. Following the completion of the sale, the director now owns 13,976 shares of the company's stock, valued at approximately $1,020,248. The trade was a 21.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $304,824.88. Following the transaction, the insider now owns 48,483 shares of the company's stock, valued at $3,550,894.92. This represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 11,796 shares of company stock worth $863,028 in the last 90 days. Corporate insiders own 0.08% of the company's stock.

About PayPal

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.