Howard Capital Management Inc. reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 9.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 41,203 shares of the credit services provider's stock after selling 4,214 shares during the quarter. Howard Capital Management Inc.'s holdings in PayPal were worth $2,688,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of the company. J. Goldman & Co LP boosted its holdings in PayPal by 11.9% during the fourth quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider's stock worth $22,304,000 after buying an additional 27,812 shares in the last quarter. ExodusPoint Capital Management LP raised its holdings in PayPal by 223.1% during the fourth quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider's stock worth $22,622,000 after purchasing an additional 183,011 shares during the last quarter. StoneX Group Inc. boosted its position in PayPal by 70.4% during the fourth quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider's stock worth $2,326,000 after purchasing an additional 11,260 shares in the last quarter. Proffitt & Goodson Inc. acquired a new stake in PayPal in the first quarter valued at $535,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of PayPal by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,634,664 shares of the credit services provider's stock valued at $651,619,000 after buying an additional 1,114,858 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.
Insider Activity
In other news, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the sale, the executive vice president owned 16,989 shares in the company, valued at $1,244,274.36. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the transaction, the insider directly owned 48,483 shares in the company, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research firms recently commented on PYPL. Macquarie reiterated an "outperform" rating and issued a $95.00 price objective on shares of PayPal in a research report on Wednesday. Wall Street Zen raised shares of PayPal from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. JMP Securities dropped their price objective on shares of PayPal from $110.00 to $100.00 and set a "market outperform" rating for the company in a research note on Wednesday. Truist Financial began coverage on PayPal in a research report on Monday, June 2nd. They set a "sell" rating and a $68.00 price objective for the company. Finally, Barclays reiterated an "overweight" rating on shares of PayPal in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $84.10.
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PayPal Trading Down 2.4%
PYPL stock traded down $1.74 during midday trading on Wednesday, reaching $69.71. 20,738,048 shares of the company's stock traded hands, compared to its average volume of 10,734,490. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.30. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The business has a 50-day moving average price of $73.25 and a two-hundred day moving average price of $72.66. The company has a market capitalization of $67.80 billion, a P/E ratio of 14.90, a PEG ratio of 1.15 and a beta of 1.45.
PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.10. PayPal had a net margin of 14.49% and a return on equity of 25.35%. The business had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.08 billion. During the same quarter in the previous year, the business posted $1.19 EPS. Equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.
PayPal Profile
(
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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