Formidable Asset Management LLC Trims Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

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

Other institutional investors also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC purchased a new stake in PayPal in the fourth quarter worth $25,000. Hurley Capital LLC purchased a new position in shares of PayPal in the 4th quarter valued at approximately $27,000. Pinney & Scofield Inc. bought a new position in PayPal in the fourth quarter worth $35,000. Bernard Wealth Management Corp. purchased a new position in PayPal during the fourth quarter valued at $37,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in shares of PayPal in the 4th quarter worth about $38,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Trading Up 0.3%

NASDAQ PYPL traded up $0.21 on Wednesday, reaching $71.69. The stock had a trading volume of 2,850,380 shares, compared to its average volume of 11,188,597. 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 capitalization of $69.72 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 1.27 and a beta of 1.51. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The stock has a fifty day moving average price of $66.32 and a two-hundred day moving average price of $76.97.

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

Analyst Ratings Changes

A number of research firms have recently commented on PYPL. Piper Sandler cut their target price on PayPal from $76.00 to $70.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Canaccord Genuity Group reiterated a "buy" rating and issued a $96.00 price target on shares of PayPal in a research note on Wednesday, April 30th. Needham & Company LLC restated a "hold" rating on shares of PayPal in a research note on Wednesday, April 30th. UBS Group reduced 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. Finally, Wells Fargo & Company cut their price objective 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. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $83.68.

Insiders Place Their Bets

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction that occurred 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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by company insiders.

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.