Wedgewood Partners Inc. Decreases Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Wedgewood Partners Inc. reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 469,829 shares of the credit services provider's stock after selling 25,555 shares during the period. PayPal accounts for about 7.9% of Wedgewood Partners Inc.'s investment portfolio, making the stock its 5th largest holding. Wedgewood Partners Inc.'s holdings in PayPal were worth $40,100,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Hurley Capital LLC purchased a new stake in shares of PayPal in the fourth quarter worth $27,000. Bernard Wealth Management Corp. bought a new position in PayPal in the 4th quarter worth about $37,000. Crowley Wealth Management Inc. bought a new position in PayPal in the 4th quarter worth about $39,000. Bank of Jackson Hole Trust purchased a new stake in PayPal during the 4th quarter valued at about $41,000. Finally, JFS Wealth Advisors LLC increased its stake in PayPal by 33.2% during the 4th quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider's stock valued at $43,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 68.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PYPL shares. Seaport Res Ptn cut shares of PayPal from a "hold" rating to a "strong sell" rating in a report on Thursday, April 17th. BMO Capital Markets reduced their price target on shares of PayPal from $83.00 to $79.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Evercore ISI started coverage on PayPal in a research report on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 price objective on the stock. Arete Research set a $81.00 target price on PayPal in a research note on Thursday, March 27th. Finally, Bank of America decreased their price target on PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $83.68.

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares of the company's stock, valued at $2,145,308.10. The trade was a 7.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.14% of the company's stock.

PayPal Stock Performance

PYPL traded down $1.55 during trading on Friday, hitting $69.90. The company's stock had a trading volume of 3,485,214 shares, compared to its average volume of 11,200,665. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The business's 50 day simple moving average is $66.26 and its 200-day simple moving average is $77.23. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm has a market cap of $67.98 billion, a PE ratio of 17.44, a P/E/G ratio of 1.27 and a beta of 1.51.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.17. The company had revenue of $7.79 billion for the quarter, compared to analysts' expectations of $7.84 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. PayPal's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period last year, the firm earned $1.08 EPS. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 EPS 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.