Prudential PLC Sells 24,345 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Key Points

• Prudential PLC has reduced its stock holdings in PayPal Holdings, Inc. by 60.2% in the first quarter, totaling 16,076 shares valued at approximately $1,049,000.
• Several institutional investors, including Allianz SE and Nuveen LLC, have either increased or established new holdings in PayPal, indicating a mixed sentiment among investors.
• Analysts have varied opinions on PayPal's stock, with price targets ranging from $56.00 to $88.00, as the company maintains an overall rating of "Hold" with an average target price of $85.00.

Prudential PLC decreased its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 60.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,076 shares of the credit services provider's stock after selling 24,345 shares during the quarter. Prudential PLC's holdings in PayPal were worth $1,049,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Security National Bank of SO Dak lifted its position in shares of PayPal by 1.1% during the 4th quarter. Security National Bank of SO Dak now owns 12,191 shares of the credit services provider's stock valued at $1,041,000 after acquiring an additional 137 shares during the period. Redwood Financial Network Corp lifted its holdings in PayPal by 4.8% in the 4th quarter. Redwood Financial Network Corp now owns 3,208 shares of the credit services provider's stock worth $274,000 after buying an additional 147 shares in the last quarter. MONECO Advisors LLC increased its position in shares of PayPal by 0.8% in the 1st quarter. MONECO Advisors LLC now owns 20,450 shares of the credit services provider's stock worth $1,334,000 after purchasing an additional 154 shares during the last quarter. DMC Group LLC increased its position in shares of PayPal by 2.0% in the 1st quarter. DMC Group LLC now owns 7,948 shares of the credit services provider's stock worth $519,000 after purchasing an additional 155 shares during the last quarter. Finally, Bryn Mawr Capital Management LLC grew its position in shares of PayPal by 4.5% during the 1st quarter. Bryn Mawr Capital Management LLC now owns 3,590 shares of the credit services provider's stock valued at $234,000 after buying an additional 155 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PYPL shares. Piper Sandler set a $74.00 target price on shares of PayPal in a research report on Tuesday, July 29th. JMP Securities reduced their price target on shares of PayPal from $110.00 to $100.00 and set a "market outperform" rating for the company in a research report on Wednesday, July 30th. BMO Capital Markets reiterated a "market perform" rating on shares of PayPal in a research note on Tuesday, July 29th. Deutsche Bank Aktiengesellschaft set a $75.00 price target on shares of PayPal in a research note on Tuesday, July 29th. Finally, Macquarie reaffirmed an "outperform" rating and set a $95.00 price objective on shares of PayPal in a report on Wednesday, July 30th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $85.00.

Insider Activity at PayPal

In other news, 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 value of $492,523.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the business's stock in a transaction on 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 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 disclosure for this sale can be found here. In the last three months, insiders sold 22,736 shares of company stock worth $1,620,835. Corporate insiders own 0.08% of the company's stock.

PayPal Price Performance

PYPL traded down $0.15 during midday trading on Friday, hitting $69.23. The company had a trading volume of 8,124,225 shares, compared to its average volume of 13,079,699. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market capitalization of $66.14 billion, a PE ratio of 14.79, a P/E/G ratio of 1.07 and a beta of 1.42. PayPal Holdings, Inc. has a twelve month low of $55.85 and a twelve month high of $93.66. The firm's 50-day simple moving average is $72.56 and its 200-day simple moving average is $70.82.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The credit services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.30 by $0.10. PayPal had a net margin of 14.49% and a return on equity of 25.35%. The company had revenue of $8.29 billion during the quarter, compared to analysts' expectations of $8.08 billion. During the same quarter in the previous year, the company earned $1.19 EPS. Equities research analysts predict that PayPal Holdings, Inc. will post 5.03 EPS 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.