Convergence Investment Partners LLC Cuts Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Convergence Investment Partners LLC lessened its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 54.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,831 shares of the credit services provider's stock after selling 15,431 shares during the period. Convergence Investment Partners LLC's holdings in PayPal were worth $837,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PYPL. Mpwm Advisory Solutions LLC acquired a new position in PayPal during the fourth quarter valued at approximately $25,000. Hurley Capital LLC acquired a new position in shares of PayPal during the fourth quarter worth $27,000. Garde Capital Inc. acquired a new position in shares of PayPal during the first quarter worth $28,000. Tsfg LLC increased its holdings in shares of PayPal by 81.6% during the first quarter. Tsfg LLC now owns 445 shares of the credit services provider's stock worth $29,000 after buying an additional 200 shares in the last quarter. Finally, Bernard Wealth Management Corp. acquired a new position in shares of PayPal during the fourth quarter worth $34,000. Institutional investors own 68.32% of the company's stock.

Analyst Ratings Changes

PYPL has been the subject of several research analyst reports. Seaport Res Ptn upgraded shares of PayPal from a "strong sell" rating to a "hold" rating in a report on Monday, July 14th. Keefe, Bruyette & Woods lowered their price target on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating for the company in a report on Monday, March 31st. Truist Financial initiated coverage on shares of PayPal in a report on Monday, June 2nd. They set a "sell" rating and a $68.00 price target for the company. Arete Research set a $81.00 price target on shares of PayPal in a report on Thursday, March 27th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $96.00 price target on shares of PayPal in a report on Wednesday, April 30th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $83.13.

Insider Transactions at PayPal

In other news, insider Suzan Kereere sold 4,162 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the completion of the sale, the insider directly owned 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of the 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 sale, the director directly owned 13,976 shares of the company's stock, valued at approximately $1,020,248. This trade represents a 21.36% 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 valued at $863,028 over the last three months. Corporate insiders own 0.08% of the company's stock.

PayPal Stock Up 0.2%

Shares of NASDAQ PYPL traded up $0.16 during midday trading on Friday, hitting $77.98. The stock had a trading volume of 6,882,061 shares, compared to its average volume of 10,883,251. The business's 50 day moving average is $73.08 and its 200-day moving average is $73.00. The company has a market cap of $75.84 billion, a P/E ratio of 17.45, a PEG ratio of 1.26 and a beta of 1.45. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.16 by $0.17. The company 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 firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.08 earnings per share. As a group, analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.