PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Truffle Hound Capital LLC

Key Points

• Truffle Hound Capital LLC sold 12,000 shares of PayPal Holdings, reducing its stake by 20.0%, leaving it with 48,000 shares valued at approximately $3.1 million.
• Several hedge funds, such as Capital Research Global Investors and Assenagon Asset Management, increased their stakes in PayPal, highlighting a growing interest in the company among institutional investors.
• PayPal reported a strong quarterly earnings performance with earnings per share of $1.40, surpassing analysts’ expectations and showing significant growth compared to the previous year.

Truffle Hound Capital LLC reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 20.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,000 shares of the credit services provider's stock after selling 12,000 shares during the period. PayPal makes up about 1.1% of Truffle Hound Capital LLC's holdings, making the stock its 26th largest holding. Truffle Hound Capital LLC's holdings in PayPal were worth $3,132,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of PYPL. Capital Research Global Investors raised its stake in shares of PayPal by 108.2% in the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock valued at $1,529,823,000 after acquiring an additional 9,313,783 shares in the last quarter. FMR LLC raised its stake in shares of PayPal by 12.9% in the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock valued at $1,615,134,000 after acquiring an additional 2,161,582 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of PayPal by 124.1% in the first quarter. Assenagon Asset Management S.A. now owns 3,497,415 shares of the credit services provider's stock valued at $228,206,000 after acquiring an additional 1,936,520 shares in the last quarter. Northern Trust Corp raised its stake in shares of PayPal by 19.0% in the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock valued at $892,953,000 after acquiring an additional 1,669,908 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of PayPal in the fourth quarter valued at $140,164,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Suzan Kereere sold 4,162 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 $304,824.88. Following the completion of the sale, the insider directly owned 48,483 shares in the company, valued at approximately $3,550,894.92. This trade represents a 7.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Chris Natali sold 7,102 shares of PayPal stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $69.35, for a total transaction of $492,523.70. The disclosure for this sale can be found here. Insiders sold a total of 22,736 shares of company stock worth $1,620,835 over the last quarter. 0.08% of the stock is owned by company insiders.

PayPal Price Performance

Shares of PYPL opened at $67.11 on Friday. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The stock's 50 day moving average is $73.14 and its two-hundred day moving average is $72.41. The firm has a market capitalization of $64.12 billion, a PE ratio of 14.34, a P/E/G ratio of 1.06 and a beta of 1.42. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.10. PayPal had a return on equity of 25.35% and a net margin of 14.49%. The company 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 company earned $1.19 EPS. Research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on PYPL. Monness Crespi & Hardt cut their price target on PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. BMO Capital Markets restated a "market perform" rating on shares of PayPal in a research note on Tuesday. Piper Sandler set a $74.00 price target on PayPal in a research note on Tuesday. Wells Fargo & Company cut their price target on PayPal from $80.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Seaport Res Ptn upgraded PayPal from a "strong sell" rating to a "hold" rating in a research note on Monday, July 14th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $84.57.

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.

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