Valley Wealth Managers Inc. Sells 16,975 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Valley Wealth Managers Inc. reduced its position in PayPal shares by 6.8%, owning 231,176 shares valued at $15,084,000 after selling 16,975 shares.
• PayPal reported an EPS of $1.33 for its latest quarter, exceeding expectations of $1.16, with a 1.2% year-over-year revenue increase.
• PayPal's stock was trading at $77.98, with a 52-week price range of $55.85 to $93.66.

Valley Wealth Managers Inc. reduced its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 231,176 shares of the credit services provider's stock after selling 16,975 shares during the quarter. Valley Wealth Managers Inc.'s holdings in PayPal were worth $15,084,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC grew its position in PayPal by 15.2% during 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 in the last quarter. Revolve Wealth Partners LLC bought a new position in PayPal during the fourth quarter worth about $248,000. Proficio Capital Partners LLC bought a new position in PayPal during the fourth quarter worth about $216,000. Modern Wealth Management LLC bought a new position in PayPal during the fourth quarter worth about $247,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in PayPal during the fourth quarter worth about $43,000. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Trading Down 8.3%

PYPL traded down $6.46 during trading on Tuesday, reaching $71.76. 27,608,969 shares of the company's stock were exchanged, compared to its average volume of 11,021,813. The company's fifty day moving average price is $73.31 and its 200-day moving average price is $72.69. 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 fifty-two week low of $55.85 and a fifty-two week high of $93.66. The firm has a market capitalization of $69.79 billion, a PE ratio of 16.04, a P/E/G ratio of 1.28 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, July 29th. The credit services provider reported $1.40 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.10. PayPal had a net margin of 14.26% and a return on equity of 24.59%. During the same quarter last year, the firm posted $1.19 earnings per share. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Wells Fargo & Company cut their price target on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods cut their price target on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, March 31st. Citigroup restated a "buy" rating on shares of PayPal in a research note on Tuesday. Wall Street Zen upgraded shares of PayPal from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Finally, Piper Sandler set a $74.00 price target on shares of PayPal in a research note on Tuesday. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $83.13.

Insiders Place Their Bets

In other PayPal news, insider Suzan Kereere sold 4,162 shares of PayPal stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the transaction, the insider directly owned 48,483 shares in the company, valued at approximately $3,550,894.92. The trade was a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.00, for a total value of $277,035.00. Following the transaction, the director owned 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 11,796 shares of company stock valued at $863,028. Company insiders own 0.08% of the company's stock.

PayPal 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.