PayPal Holdings, Inc. (NASDAQ:PYPL) Position Cut by Quintet Private Bank Europe S.A.

Quintet Private Bank Europe S.A. lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 45.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 415,837 shares of the credit services provider's stock after selling 344,556 shares during the quarter. PayPal accounts for 1.6% of Quintet Private Bank Europe S.A.'s investment portfolio, making the stock its 22nd biggest position. Quintet Private Bank Europe S.A.'s holdings in PayPal were worth $27,133,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PYPL. Brighton Jones LLC boosted 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 valued at $596,000 after acquiring an additional 924 shares during the last quarter. Revolve Wealth Partners LLC acquired a new position in shares of PayPal during the fourth quarter worth about $248,000. Essex Financial Services Inc. lifted its stake in shares of PayPal by 7.7% during the fourth quarter. Essex Financial Services Inc. now owns 5,147 shares of the credit services provider's stock worth $439,000 after purchasing an additional 367 shares in the last quarter. Leavell Investment Management Inc. lifted its stake in shares of PayPal by 40.0% during the fourth quarter. Leavell Investment Management Inc. now owns 25,207 shares of the credit services provider's stock worth $2,151,000 after purchasing an additional 7,196 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC lifted its stake in shares of PayPal by 23.7% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 15,429 shares of the credit services provider's stock worth $1,317,000 after purchasing an additional 2,953 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Piper Sandler reduced their price objective on PayPal from $76.00 to $70.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Compass Point assumed coverage on PayPal in a research note on Wednesday, April 23rd. They set a "sell" rating and a $56.00 price objective on the stock. Morgan Stanley boosted their price objective on PayPal from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. Truist Financial initiated coverage on PayPal in a research note on Monday, June 2nd. They set a "sell" rating and a $68.00 price objective on the stock. Finally, Evercore ISI initiated coverage on PayPal in a research note on Wednesday, April 9th. They issued an "in-line" rating and a $65.00 price target on the stock. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $83.29.

Insider Activity

In other news, Director Deborah M. Messemer sold 3,795 shares of the company's stock in a transaction that occurred 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 approximately $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the transaction, the insider now directly owns 48,483 shares of the company's stock, valued at $3,550,894.92. This trade represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,796 shares of company stock valued at $863,028. 0.08% of the stock is currently owned by insiders.

PayPal Stock Down 5.3%

PayPal stock traded down $3.98 during midday trading on Friday, hitting $70.83. The stock had a trading volume of 16,734,401 shares, compared to its average volume of 11,031,389. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $68.88 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.27 and a beta of 1.45. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The business has a fifty day moving average price of $67.88 and a 200 day moving average price of $75.93.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results 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 company had revenue of $7.79 billion during the quarter, compared to analyst estimates of $7.84 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business's revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.08 earnings per share. Research analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

About PayPal

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.