PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 5.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,232 shares of the credit services provider's stock after selling 11,123 shares during the period. WASHINGTON TRUST Co's holdings in PayPal were worth $12,869,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC acquired a new stake in PayPal during the 4th quarter worth $25,000. Hurley Capital LLC purchased a new position in shares of PayPal in the fourth quarter worth about $27,000. Garde Capital Inc. acquired a new position in PayPal during the first quarter worth about $28,000. Tsfg LLC grew its stake in PayPal by 81.6% during the 1st quarter. Tsfg LLC now owns 445 shares of the credit services provider's stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Finally, Bernard Wealth Management Corp. acquired a new stake in PayPal in the 4th quarter valued at about $34,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PayPal

In related news, Director Deborah M. Messemer sold 3,795 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the transaction, the director now directly owns 13,976 shares of the company's stock, valued at $1,020,248. The trade was a 21.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of the 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 sale, the insider now directly owns 48,483 shares in the company, valued at $3,550,894.92. This represents a 7.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 11,796 shares of company stock valued at $863,028 in the last 90 days. Company insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PYPL. BMO Capital Markets lowered their target price on PayPal from $83.00 to $79.00 and set a "market perform" rating on the stock in a report on Wednesday, April 30th. Royal Bank Of Canada reissued an "outperform" rating and set a $88.00 price objective on shares of PayPal in a research note on Thursday. Needham & Company LLC restated a "hold" rating on shares of PayPal in a report on Wednesday, April 30th. Robert W. Baird lifted their price target on PayPal from $78.00 to $79.00 and gave the stock an "outperform" rating in a report on Wednesday, April 30th. Finally, Truist Financial started coverage on shares of PayPal in a research report on Monday, June 2nd. They set a "sell" rating and a $68.00 price target on the stock. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PayPal currently has an average rating of "Hold" and a consensus price target of $83.42.

PayPal Stock Performance

NASDAQ PYPL opened at $73.64 on Monday. 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 has a market cap of $71.62 billion, a P/E ratio of 16.47, a P/E/G ratio of 1.22 and a beta of 1.45. The stock has a 50-day moving average of $70.16 and a two-hundred day moving average of $74.48. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.84 billion. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.08 earnings per share. As a group, analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current 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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