PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Perpetual Ltd

Perpetual Ltd lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 96.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,157 shares of the credit services provider's stock after selling 916,388 shares during the period. Perpetual Ltd's holdings in PayPal were worth $1,968,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PYPL. Brighton Jones LLC raised its position in shares of PayPal by 15.2% in the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock valued at $596,000 after buying an additional 924 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of PayPal in the fourth quarter valued at approximately $248,000. IFP Advisors Inc raised its position in shares of PayPal by 55.7% in the fourth quarter. IFP Advisors Inc now owns 12,220 shares of the credit services provider's stock valued at $1,043,000 after buying an additional 4,370 shares during the last quarter. Kovack Advisors Inc. grew its holdings in PayPal by 8.6% in the fourth quarter. Kovack Advisors Inc. now owns 8,157 shares of the credit services provider's stock valued at $696,000 after purchasing an additional 648 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in PayPal in the fourth quarter valued at approximately $18,445,000. Institutional investors and hedge funds own 68.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PYPL shares. Monness Crespi & Hardt lowered their target price on shares of PayPal from $120.00 to $90.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. DZ Bank upgraded shares of PayPal from a "hold" rating to a "buy" rating and set a $92.00 target price for the company in a report on Friday, February 28th. UBS Group lowered their target price 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. Barclays lowered their target price on shares of PayPal from $110.00 to $80.00 and set an "overweight" rating for the company in a report on Tuesday, April 15th. Finally, Needham & Company LLC restated a "hold" rating on shares of PayPal in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, PayPal has an average rating of "Hold" and an average price target of $83.42.

Insider Activity at PayPal

In other PayPal news, EVP Diego Scotti sold 3,839 shares of the stock in a transaction 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 now directly owns 16,989 shares of the company's stock, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the 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 sale, the insider now directly owns 48,483 shares in the company, valued at $3,550,894.92. This trade represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,796 shares of company stock valued at $863,028 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

PayPal Trading Up 0.6%

NASDAQ PYPL opened at $73.64 on Friday. The company's fifty day simple moving average is $70.16 and its 200-day simple moving average is $74.69. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market cap of $71.62 billion, a P/E ratio of 16.47, a PEG ratio of 1.21 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.17. The firm had revenue of $7.79 billion for the quarter, compared to analysts' expectations of $7.84 billion. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.08 earnings per share. Equities research analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

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.

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