RedJay Asset Management Inc. Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

RedJay Asset Management Inc. trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 43.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,500 shares of the credit services provider's stock after selling 62,500 shares during the quarter. PayPal makes up approximately 2.9% of RedJay Asset Management Inc.'s holdings, making the stock its 9th biggest position. RedJay Asset Management Inc.'s holdings in PayPal were worth $5,383,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PYPL. Mpwm Advisory Solutions LLC purchased a new stake in shares of PayPal in the fourth quarter worth about $25,000. Hurley Capital LLC bought a new stake in PayPal in the 4th quarter worth approximately $27,000. Garde Capital Inc. purchased a new stake in shares of PayPal during the 1st quarter worth approximately $28,000. Tsfg LLC boosted its position in shares of 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 during the last quarter. Finally, Bernard Wealth Management Corp. bought a new position in shares of PayPal during the 4th quarter valued at approximately $34,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PayPal

In other PayPal news, EVP Diego Scotti sold 3,839 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $281,168.36. Following the sale, the executive vice president owned 16,989 shares of the company's stock, valued at approximately $1,244,274.36. This trade represents a 18.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of PayPal stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the completion of the transaction, the director owned 13,976 shares in the company, valued at $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 quarter, insiders sold 11,796 shares of company stock valued at $863,028. Company insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

PYPL has been the topic of several research reports. Macquarie reduced their price target on shares of PayPal from $117.00 to $95.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. BMO Capital Markets dropped their price objective 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. Arete Research set a $81.00 target price on shares of PayPal in a research report on Thursday, March 27th. Wells Fargo & Company lowered their price target on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Seaport Res Ptn lowered PayPal from a "hold" rating to a "strong sell" rating in a research report on Thursday, April 17th. 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. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $83.42.

PayPal Stock Up 0.9%

Shares of PYPL traded up $0.68 during midday trading on Monday, reaching $74.32. 7,734,711 shares of the stock were exchanged, compared to its average volume of 10,908,359. The company has a market capitalization of $72.28 billion, a P/E ratio of 16.63, a PEG ratio of 1.22 and a beta of 1.45. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. The company's 50 day moving average is $70.16 and its two-hundred day moving average is $74.48.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share for the quarter, topping analysts' consensus estimates 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 net margin of 14.26% and a return on equity of 24.59%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.08 earnings per share. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

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.