Pacer Advisors Inc. Sells 30,818 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Pacer Advisors Inc. decreased its stake in PayPal Holdings by 23.7%, selling 30,818 shares during the first quarter, leaving them with a total of 99,336 shares valued at approximately $6.48 million.
• Insider trading activity saw significant sales, with insiders, including Suzan Kereere and Deborah M. Messemer, selling a total of 7,957 shares recently, indicating a notable decrease in their ownership.
• Despite a record of beating earnings estimates, PayPal's revenue for the latest quarter was slightly below analyst expectations, raising concerns about future performance amid mixed analyst outlooks.

Pacer Advisors Inc. trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 23.7% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,336 shares of the credit services provider's stock after selling 30,818 shares during the period. Pacer Advisors Inc.'s holdings in PayPal were worth $6,482,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of 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 acquired a new stake in shares of PayPal in the 4th quarter worth $27,000. Garde Capital Inc. acquired a new position in shares of PayPal during the first quarter worth about $28,000. Tsfg LLC boosted its holdings in PayPal by 81.6% in the 1st quarter. Tsfg LLC now owns 445 shares of the credit services provider's stock valued at $29,000 after purchasing an additional 200 shares in the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in PayPal in the fourth quarter valued at $34,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PayPal

In other news, insider Suzan Kereere sold 4,162 shares of the business's stock in a transaction that occurred 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 sale, the insider directly owned 48,483 shares in the company, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Diego Scotti sold 3,839 shares of PayPal 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 owned 16,989 shares in the company, valued at approximately $1,244,274.36. This trade represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,796 shares of company stock worth $863,028 over the last three months. Company insiders own 0.08% of the company's stock.

PayPal Stock Down 0.6%

Shares of PYPL traded down $0.41 during mid-day trading on Thursday, hitting $69.30. 7,511,294 shares of the company's stock were exchanged, compared to its average volume of 11,182,076. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.56. The stock has a market cap of $67.40 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.15 and a beta of 1.45. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The firm has a fifty day moving average of $73.25 and a two-hundred day moving average of $72.66.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share (EPS) for the quarter, topping 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 business had revenue of $8.29 billion during the quarter, compared to the consensus estimate of $8.08 billion. During the same period in the prior year, the firm earned $1.19 EPS. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on PYPL shares. Needham & Company LLC reiterated a "hold" rating on shares of PayPal in a research note on Wednesday, April 30th. Robert W. Baird boosted their target price on PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Monness Crespi & Hardt decreased their price objective on shares of PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen upgraded shares of PayPal from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Finally, Bank of America cut their price objective on PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PayPal presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.10.

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.