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PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by First Western Trust Bank

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Key Points

  • First Western Trust Bank decreased its holdings in PayPal Holdings, Inc. by 20.8% over the first quarter, reducing its stake from 25,413 to 20,117 shares.
  • In the latest earnings release, PayPal reported $1.40 earnings per share, exceeding expectations, with revenue of $8.29 billion compared to a forecast of $8.08 billion.
  • PayPal's stock has a current market capitalization of $64.63 billion and a consensus price target of $84.57 from analysts, indicating a generally positive outlook despite some recent sell ratings.
  • Want stock alerts on PayPal? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

First Western Trust Bank cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,117 shares of the credit services provider's stock after selling 5,296 shares during the quarter. First Western Trust Bank's holdings in PayPal were worth $1,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Security National Bank of SO Dak lifted its position in shares of PayPal by 1.1% during the 4th quarter. Security National Bank of SO Dak now owns 12,191 shares of the credit services provider's stock valued at $1,041,000 after acquiring an additional 137 shares during the period. Cohen & Steers Inc. lifted its position in shares of PayPal by 5.1% during the 4th quarter. Cohen & Steers Inc. now owns 3,016 shares of the credit services provider's stock valued at $257,000 after acquiring an additional 145 shares during the period. Redwood Financial Network Corp lifted its position in shares of PayPal by 4.8% during the 4th quarter. Redwood Financial Network Corp now owns 3,208 shares of the credit services provider's stock valued at $274,000 after acquiring an additional 147 shares during the period. MONECO Advisors LLC lifted its position in shares of PayPal by 0.8% during the 1st quarter. MONECO Advisors LLC now owns 20,450 shares of the credit services provider's stock valued at $1,334,000 after acquiring an additional 154 shares during the period. Finally, DMC Group LLC lifted its position in shares of PayPal by 2.0% during the 1st quarter. DMC Group LLC now owns 7,948 shares of the credit services provider's stock valued at $519,000 after acquiring an additional 155 shares during the period. 68.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PYPL has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Royal Bank Of Canada restated an "outperform" rating and set a $88.00 price objective on shares of PayPal in a research report on Thursday, June 26th. 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. Barclays restated an "overweight" rating on shares of PayPal in a research report on Tuesday, July 29th. Finally, UBS Group cut their price objective on PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $85.00.

Read Our Latest Stock Analysis on PYPL

Insider Activity at PayPal

In related news, EVP Diego Scotti sold 3,838 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $69.12, for a total transaction of $265,282.56. Following the sale, the executive vice president owned 16,989 shares in the company, valued at $1,174,279.68. This represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of the stock in a transaction dated 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 owned 48,483 shares in the company, valued at approximately $3,550,894.92. This trade represents a 7.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,736 shares of company stock worth $1,620,835. Company insiders own 0.08% of the company's stock.

PayPal Stock Down 0.8%

Shares of PYPL traded down $0.57 during mid-day trading on Friday, reaching $67.65. 9,663,964 shares of the stock traded hands, compared to its average volume of 13,469,648. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.56. The firm has a market cap of $64.63 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 1.04 and a beta of 1.42. The stock has a fifty day simple moving average of $72.89 and a 200 day simple moving average of $71.52.

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

About PayPal

(Free Report)

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.

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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