Patton Fund Management Inc. Lowers Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Patton Fund Management Inc. reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 23.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,995 shares of the credit services provider's stock after selling 15,323 shares during the quarter. Patton Fund Management Inc.'s holdings in PayPal were worth $3,327,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of PayPal by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock worth $1,849,884,000 after purchasing an additional 271,836 shares during the period. FMR LLC raised its stake in PayPal by 12.9% during the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock worth $1,615,134,000 after buying an additional 2,161,582 shares during the last quarter. Capital Research Global Investors lifted its holdings in PayPal by 108.2% in 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 buying an additional 9,313,783 shares during the period. Norges Bank bought a new stake in PayPal during the fourth quarter valued at $1,086,508,000. Finally, Northern Trust Corp boosted its position in PayPal by 19.0% during the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock valued at $892,953,000 after acquiring an additional 1,669,908 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Suzan Kereere sold 4,162 shares of the business's 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 completion of the sale, the insider now directly owns 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Deborah M. Messemer sold 3,795 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the sale, the director now directly owns 13,976 shares of the company's stock, valued at approximately $1,020,248. This represents a 21.36% 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 valued at $863,028 in the last ninety days. 0.08% of the stock is currently owned by company insiders.

PayPal Stock Performance

NASDAQ PYPL traded down $2.10 during trading hours on Wednesday, hitting $68.57. The company's stock had a trading volume of 20,407,159 shares, compared to its average volume of 11,021,434. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The company's 50 day simple moving average is $68.58 and its two-hundred day simple moving average is $75.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $66.69 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 1.17 and a beta of 1.45.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PYPL shares. Truist Financial initiated coverage on PayPal in a research note on Monday, June 2nd. They issued a "sell" rating and a $68.00 price objective on the stock. Seaport Res Ptn downgraded PayPal from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 17th. Barclays cut 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. Keefe, Bruyette & Woods lowered their target price on PayPal from $104.00 to $85.00 and set an "outperform" rating on the stock in a research report on Monday, March 31st. Finally, Robert W. Baird increased their target price on PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $83.29.

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.