Truffle Hound Capital LLC Trims Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

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 cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 20.0% in the first quarter, according to its most recent disclosure 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 quarter. PayPal accounts for 1.1% of Truffle Hound Capital LLC's portfolio, making the stock its 26th largest position. 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.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in PayPal by 15.2% in the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock worth $596,000 after buying an additional 924 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in PayPal in the fourth quarter worth approximately $248,000. OneAscent Financial Services LLC increased its holdings in PayPal by 29.9% in the fourth quarter. OneAscent Financial Services LLC now owns 5,557 shares of the credit services provider's stock worth $474,000 after buying an additional 1,278 shares during the last quarter. Nicolet Advisory Services LLC increased its holdings in PayPal by 18.3% in the fourth quarter. Nicolet Advisory Services LLC now owns 5,471 shares of the credit services provider's stock worth $456,000 after buying an additional 848 shares during the last quarter. Finally, Westpac Banking Corp increased its holdings in PayPal by 74.0% in the fourth quarter. Westpac Banking Corp now owns 35,253 shares of the credit services provider's stock worth $3,009,000 after buying an additional 14,992 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PayPal

In other news, CAO Chris Natali sold 7,102 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $69.35, for a total value of $492,523.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value 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 represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 22,736 shares of company stock worth $1,620,835 over the last ninety days. Corporate insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Royal Bank Of Canada reiterated an "outperform" rating and set a $88.00 price target on shares of PayPal in a report on Thursday, June 26th. Seaport Res Ptn upgraded PayPal from a "strong sell" rating to a "hold" rating in a report on Monday, July 14th. Compass Point assumed coverage on PayPal in a report on Wednesday, April 23rd. They set a "sell" rating and a $56.00 price target on the stock. Truist Financial assumed coverage on PayPal in a report on Monday, June 2nd. They set a "sell" rating and a $68.00 price target on the stock. Finally, Wall Street Zen upgraded PayPal from a "hold" rating to a "buy" rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $84.57.

PayPal Trading Down 0.3%

Shares of PYPL stock traded down $0.19 during mid-day trading on Tuesday, reaching $67.83. The stock had a trading volume of 8,311,347 shares, compared to its average volume of 11,255,027. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56. The stock's 50-day moving average price is $73.10 and its two-hundred day moving average price is $72.01. The firm has a market capitalization of $64.80 billion, a PE ratio of 14.49, a price-to-earnings-growth ratio of 1.03 and a beta of 1.42. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The credit services provider reported $1.40 earnings per share for the quarter, topping 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 firm had revenue of $8.29 billion for the quarter, compared to analyst estimates of $8.08 billion. During the same period last year, the company earned $1.19 EPS. Equities analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share 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.