Charles Schwab Investment Management Inc. Sells 12,309 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in PayPal Holdings by 0.2%, selling 12,309 shares to own 6,603,167 shares valued at approximately $430.86 million.
• Insider Suzan Kereere sold 4,162 shares for over $304,000, reducing their ownership by 7.91%, while total insider sales reached 22,736 shares worth about $1.62 million in the last ninety days.
• Analysts have varying opinions on PayPal, with a consensus rating of "Moderate Buy", where 19 analysts rate it a buy, while two rate it as a sell, with a consensus price target of $84.57.

Charles Schwab Investment Management Inc. reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 0.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,603,167 shares of the credit services provider's stock after selling 12,309 shares during the period. Charles Schwab Investment Management Inc. owned about 0.68% of PayPal worth $430,857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PYPL. Mpwm Advisory Solutions LLC bought a new position in PayPal in the 4th quarter valued at approximately $25,000. Bernard Wealth Management Corp. bought a new position in PayPal in the 4th quarter valued at approximately $34,000. Pinney & Scofield Inc. bought a new position in PayPal in the 4th quarter valued at approximately $35,000. Evermay Wealth Management LLC raised its holdings in PayPal by 726.0% in the 1st quarter. Evermay Wealth Management LLC now owns 413 shares of the credit services provider's stock valued at $27,000 after buying an additional 363 shares during the last quarter. Finally, Garde Capital Inc. bought a new position in PayPal in the 1st quarter valued at approximately $28,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PYPL has been the subject of a number of research reports. Canaccord Genuity Group reiterated a "buy" rating and issued a $96.00 price objective on shares of PayPal in a report on Wednesday, July 30th. Truist Financial began 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. Deutsche Bank Aktiengesellschaft set a $75.00 price target on shares of PayPal in a report on Tuesday, July 29th. Compass Point began coverage on shares of PayPal in a report on Wednesday, April 23rd. They set a "sell" rating and a $56.00 price target for the company. Finally, UBS Group lowered their price target on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, PayPal currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.57.

PayPal Price Performance

Shares of PYPL traded down $0.57 during midday trading on Friday, hitting $67.65. 9,663,964 shares of the company traded hands, compared to its average volume of 13,469,648. The stock has a 50-day moving average of $72.89 and a 200-day moving average of $71.65. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The firm has a market cap of $64.63 billion, a P/E ratio of 14.46, a PEG ratio of 1.05 and a beta of 1.42. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.33.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.30 by $0.10. PayPal had a return on equity of 25.35% and a net margin of 14.49%. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.08 billion. During the same quarter in the previous year, the firm earned $1.19 earnings per share. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other PayPal news, insider Suzan Kereere sold 4,162 shares of the company'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 value of $304,824.88. Following the completion of the sale, the insider 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Chris Natali sold 7,102 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $69.35, for a total value of $492,523.70. The disclosure for this sale can be found here. Insiders sold a total of 22,736 shares of company stock worth $1,620,835 over the last three months. Company insiders own 0.08% of the company's stock.

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.