Saybrook Capital NC Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Saybrook Capital NC cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,334 shares of the credit services provider's stock after selling 4,442 shares during the period. PayPal accounts for about 1.2% of Saybrook Capital NC's portfolio, making the stock its 17th biggest position. Saybrook Capital NC's holdings in PayPal were worth $4,524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Avalon Trust Co increased its stake in PayPal by 7.0% during the fourth quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider's stock worth $176,000 after acquiring an additional 135 shares during the last quarter. Security National Bank of SO Dak lifted its stake in shares of PayPal by 1.1% in the 4th quarter. Security National Bank of SO Dak now owns 12,191 shares of the credit services provider's stock valued at $1,041,000 after purchasing an additional 137 shares during the last quarter. Stegent Equity Advisors Inc. grew its holdings in shares of PayPal by 3.2% during the 4th quarter. Stegent Equity Advisors Inc. now owns 4,546 shares of the credit services provider's stock worth $388,000 after purchasing an additional 142 shares during the period. Cohen & Steers Inc. increased its position in shares of PayPal by 5.1% during the 4th quarter. Cohen & Steers Inc. now owns 3,016 shares of the credit services provider's stock worth $257,000 after purchasing an additional 145 shares during the last quarter. Finally, Redwood Financial Network Corp raised its holdings in PayPal by 4.8% in the 4th quarter. Redwood Financial Network Corp now owns 3,208 shares of the credit services provider's stock valued at $274,000 after buying an additional 147 shares during the period. 68.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a research report on Wednesday, April 30th. Barclays decreased their price objective on shares of PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Evercore ISI started coverage on shares of PayPal in a report on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 target price for the company. Macquarie decreased their price target on PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 29th. Finally, BMO Capital Markets cut their price objective on PayPal from $83.00 to $79.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $83.42.

PayPal Stock Down 0.7%

Shares of PayPal stock traded down $0.51 during trading hours on Wednesday, hitting $73.07. The company had a trading volume of 7,847,548 shares, compared to its average volume of 10,997,510. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The company's 50-day moving average is $69.40 and its two-hundred day moving average is $74.93. The company has a market cap of $71.06 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 1.19 and a beta of 1.45. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data 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. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The company had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter in the prior year, the firm posted $1.08 earnings per share. PayPal's revenue for the quarter was up 1.2% on a year-over-year basis. Analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Deborah M. Messemer sold 3,795 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the sale, the director now owns 13,976 shares in the company, valued at approximately $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Suzan Kereere sold 4,162 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the completion of the transaction, the insider now owns 48,483 shares in the company, valued at $3,550,894.92. This trade represents a 7.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,796 shares of company stock valued at $863,028. 0.08% of the stock is currently owned by company insiders.

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.