Wesbanco Bank Inc. Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Wesbanco Bank Inc. reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 66.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 48,597 shares of the credit services provider's stock after selling 94,821 shares during the period. Wesbanco Bank Inc.'s holdings in PayPal were worth $3,171,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its stake in PayPal by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock worth $1,849,884,000 after purchasing an additional 271,836 shares during the period. FMR LLC raised its holdings 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 worth $1,615,134,000 after buying an additional 2,161,582 shares in the last quarter. Capital Research Global Investors raised its holdings 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 worth $1,529,823,000 after buying an additional 9,313,783 shares in the last quarter. Norges Bank bought a new position in shares of PayPal during the 4th quarter worth approximately $1,086,508,000. Finally, Northern Trust Corp grew its position in PayPal by 19.0% in the fourth 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.

Wall Street Analyst Weigh In

Several analysts have commented on PYPL shares. Arete Research set a $81.00 target price on shares of PayPal in a research report on Thursday, March 27th. Barclays reduced their price target on PayPal from $110.00 to $80.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Macquarie lowered their price objective on shares of PayPal from $117.00 to $95.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. Truist Financial initiated coverage on PayPal in a research note on Monday, June 2nd. They set a "sell" rating and a $68.00 price target on the stock. Finally, Wall Street Zen upgraded PayPal from a "hold" rating to a "buy" rating in a report on Thursday, May 1st. Three equities 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 given a strong buy rating to the stock. According to data from MarketBeat, PayPal currently has a consensus rating of "Hold" and an average price target of $83.29.

Insider Buying and Selling at PayPal

In other PayPal news, Director Deborah M. Messemer sold 3,795 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were 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 owns 13,976 shares in the company, valued at approximately $1,020,248. This trade represents a 21.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Diego Scotti sold 3,839 shares of the company'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 $281,168.36. Following the transaction, the executive vice president now owns 16,989 shares in the company, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 11,796 shares of company stock worth $863,028 over the last three months. Corporate insiders own 0.14% of the company's stock.

PayPal Stock Up 1.6%

Shares of NASDAQ:PYPL traded up $1.21 during mid-day trading on Tuesday, reaching $74.76. 9,500,469 shares of the stock were exchanged, compared to its average volume of 11,067,224. The stock's 50 day simple moving average is $66.97 and its 200-day simple moving average is $76.04. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The company has a market cap of $72.71 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.27 and a beta of 1.45. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.17. The business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal's revenue was up 1.2% on a year-over-year basis. During the same period last year, the business posted $1.08 EPS. As a group, equities 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.