Carnegie Investment Counsel decreased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 22.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,555 shares of the credit services provider's stock after selling 63,677 shares during the period. Carnegie Investment Counsel's holdings in PayPal were worth $14,456,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Machina Capital S.A.S. purchased a new stake in PayPal in the first quarter worth about $3,285,000. AE Wealth Management LLC raised its position in shares of PayPal by 37.6% in the 1st quarter. AE Wealth Management LLC now owns 43,022 shares of the credit services provider's stock worth $2,807,000 after acquiring an additional 11,747 shares in the last quarter. Wedbush Securities Inc. raised its position in shares of PayPal by 7.9% in the 1st quarter. Wedbush Securities Inc. now owns 20,535 shares of the credit services provider's stock worth $1,340,000 after acquiring an additional 1,502 shares in the last quarter. J. W. Coons Advisors LLC lifted its stake in shares of PayPal by 3.9% in the 1st quarter. J. W. Coons Advisors LLC now owns 5,323 shares of the credit services provider's stock valued at $347,000 after purchasing an additional 200 shares during the period. Finally, Boyd Watterson Asset Management LLC OH boosted its position in shares of PayPal by 10.2% during the first quarter. Boyd Watterson Asset Management LLC OH now owns 31,367 shares of the credit services provider's stock valued at $2,047,000 after purchasing an additional 2,902 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.
PayPal Stock Performance
Shares of PYPL stock traded up $0.16 on Friday, reaching $77.98. The stock had a trading volume of 6,882,061 shares, compared to its average volume of 8,787,694. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.30 and a current ratio of 1.30. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The stock has a market cap of $75.84 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.28 and a beta of 1.45. The company has a 50 day simple moving average of $73.08 and a 200 day simple moving average of $73.00.
PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.17. The business had revenue of $7.79 billion for the quarter, compared to analysts' expectations of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The business's revenue for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $1.08 earnings per share. Equities research analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.
Insiders Place Their Bets
In related news, insider Suzan Kereere sold 4,162 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 48,483 shares of the company's stock, valued at approximately $3,550,894.92. This trade represents a 7.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the transaction, the executive vice president owned 16,989 shares in the company, valued at $1,244,274.36. This trade represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 11,796 shares of company stock worth $863,028. Company insiders own 0.08% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have issued reports on PYPL. Seaport Res Ptn upgraded PayPal from a "strong sell" rating to a "hold" rating in a report on Monday, July 14th. Keefe, Bruyette & Woods reduced their target price on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating on the stock in a research report on Monday, March 31st. BMO Capital Markets decreased their price target on shares of PayPal from $83.00 to $79.00 and set a "market perform" rating for the company in a research note on Wednesday, April 30th. UBS Group lowered their price target on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Finally, Barclays upped their price objective on shares of PayPal from $80.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $83.13.
Check Out Our Latest Report on PYPL
PayPal Company Profile
(
Free Report)
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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