Rhumbline Advisers Sells 107,129 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Rhumbline Advisers lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,893,195 shares of the credit services provider's stock after selling 107,129 shares during the period. Rhumbline Advisers owned 0.19% of PayPal worth $123,531,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in 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 purchasing an additional 924 shares in the last quarter. Revolve Wealth Partners LLC bought a new position in PayPal in the 4th quarter valued at about $248,000. Strategic Blueprint LLC raised its position in shares of PayPal by 9.9% in the 4th quarter. Strategic Blueprint LLC now owns 3,590 shares of the credit services provider's stock valued at $306,000 after buying an additional 323 shares in the last quarter. Mediolanum International Funds Ltd lifted its holdings in shares of PayPal by 121.5% during the 4th quarter. Mediolanum International Funds Ltd now owns 61,176 shares of the credit services provider's stock worth $5,213,000 after acquiring an additional 33,555 shares during the period. Finally, Caprock Group LLC lifted its holdings in shares of PayPal by 47.5% during the 4th quarter. Caprock Group LLC now owns 36,244 shares of the credit services provider's stock worth $3,093,000 after acquiring an additional 11,673 shares during the period. Institutional investors own 68.32% of the company's stock.

PayPal Trading Up 0.6%

PYPL stock traded up $0.40 during midday trading on Tuesday, hitting $71.33. The stock had a trading volume of 7,305,515 shares, compared to its average volume of 11,167,686. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The business has a fifty day moving average price of $66.34 and a two-hundred day moving average price of $76.47. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The firm has a market cap of $69.37 billion, a P/E ratio of 17.79, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. During the same quarter in the prior year, the company earned $1.08 EPS. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Macquarie lowered their price objective on shares of PayPal from $117.00 to $95.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Arete Research set a $81.00 price target on PayPal in a research note on Thursday, March 27th. Seaport Res Ptn cut PayPal from a "hold" rating to a "strong sell" rating in a report on Thursday, April 17th. Monness Crespi & Hardt reduced their price objective on PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their target price on PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $83.29.

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.