Sawgrass Asset Management LLC Has $694,000 Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sawgrass Asset Management LLC trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 28.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,634 shares of the credit services provider's stock after selling 4,310 shares during the period. Sawgrass Asset Management LLC's holdings in PayPal were worth $694,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of PayPal by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock valued at $1,849,884,000 after acquiring an additional 271,836 shares during the period. FMR LLC raised its position in shares of PayPal by 12.9% in the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider's stock valued at $1,615,134,000 after acquiring an additional 2,161,582 shares during the period. Capital Research Global Investors raised its position in shares of PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider's stock valued at $1,529,823,000 after acquiring an additional 9,313,783 shares during the period. Norges Bank acquired a new stake in shares of PayPal in the 4th quarter valued at approximately $1,086,508,000. Finally, Northern Trust Corp raised its position in shares of PayPal by 19.0% in the 4th quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider's stock valued at $892,953,000 after acquiring an additional 1,669,908 shares during the period. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Diego Scotti sold 3,839 shares of PayPal 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 completion of the sale, the executive vice president now owns 16,989 shares of the company's stock, valued at approximately $1,244,274.36. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of PayPal 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 sale, the insider now directly owns 48,483 shares of the company's stock, valued at $3,550,894.92. This represents a 7.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,796 shares of company stock valued at $863,028 over the last ninety days. 0.08% of the stock is currently owned by company insiders.

PayPal Price Performance

NASDAQ:PYPL opened at $70.05 on Monday. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The firm has a fifty day simple moving average of $68.98 and a 200 day simple moving average of $75.06. The stock has a market capitalization of $68.13 billion, a PE ratio of 15.67, a P/E/G ratio of 1.16 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.17. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The firm had revenue of $7.79 billion during the quarter, compared to analysts' expectations of $7.84 billion. During the same period in the previous year, the business posted $1.08 earnings per share. The company's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on PYPL shares. Arete Research set a $81.00 target price on shares of PayPal in a report on Thursday, March 27th. Truist Financial started coverage on shares of PayPal in a report on Monday, June 2nd. They set a "sell" rating and a $68.00 target price on the stock. Evercore ISI started coverage on shares of PayPal in a report on Wednesday, April 9th. They set an "in-line" rating and a $65.00 target price on the stock. Seaport Res Ptn downgraded shares of PayPal from a "hold" rating to a "strong sell" rating in a report on Thursday, April 17th. Finally, Canaccord Genuity Group restated a "buy" rating and set a $96.00 target price on shares of PayPal in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $83.29.

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.

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