Formidable Asset Management LLC Cuts Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Formidable Asset Management LLC cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 19.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,722 shares of the credit services provider's stock after selling 6,399 shares during the period. Formidable Asset Management LLC's holdings in PayPal were worth $2,281,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its holdings in shares of PayPal by 104.5% during the 4th quarter. SG Americas Securities LLC now owns 29,624 shares of the credit services provider's stock valued at $2,528,000 after purchasing an additional 694,266 shares during the last quarter. Avior Wealth Management LLC raised its stake in shares of PayPal by 5.6% during the 4th quarter. Avior Wealth Management LLC now owns 24,928 shares of the credit services provider's stock valued at $2,128,000 after buying an additional 1,321 shares during the last quarter. Red Door Wealth Management LLC raised its stake in shares of PayPal by 6.4% during the 4th quarter. Red Door Wealth Management LLC now owns 48,089 shares of the credit services provider's stock valued at $4,104,000 after buying an additional 2,872 shares during the last quarter. Secure Asset Management LLC purchased a new position in shares of PayPal during the 4th quarter valued at about $257,000. Finally, FCG Investment Co raised its stake in shares of PayPal by 8.6% during the 4th quarter. FCG Investment Co now owns 15,019 shares of the credit services provider's stock valued at $1,282,000 after buying an additional 1,190 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Trading Up 2.3%

Shares of PYPL stock traded up $1.63 during trading on Tuesday, hitting $71.48. 8,751,694 shares of the stock traded hands, compared to its average volume of 11,454,544. The firm has a market capitalization of $69.52 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The firm's fifty day moving average price is $66.28 and its 200-day moving average price is $77.01. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) 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 analyst estimates of $7.84 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.08 earnings per share. As a group, research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley lifted their price objective on PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. restated an "overweight" rating on shares of PayPal in a research report on Tuesday, February 4th. Piper Sandler dropped their target price on PayPal from $76.00 to $70.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Compass Point began coverage on PayPal in a research report on Wednesday, April 23rd. They set a "sell" rating and a $56.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on PayPal from $80.00 to $74.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $83.68.

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now owns 29,734 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Company insiders own 0.14% of the company's stock.

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.