Raymond James Financial Services Advisors Inc. Cuts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Raymond James Financial Services Advisors Inc. reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 443,792 shares of the credit services provider's stock after selling 54,957 shares during the period. Raymond James Financial Services Advisors Inc.'s holdings in PayPal were worth $29,730,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of PayPal in the 4th quarter valued at approximately $25,000. Sutton Wealth Advisors Inc. increased its position in shares of PayPal by 115.0% in the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider's stock valued at $26,000 after purchasing an additional 237 shares during the last quarter. American National Bank purchased a new stake in shares of PayPal in the 1st quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new stake in shares of PayPal in the 4th quarter valued at approximately $29,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of PayPal in the 1st quarter valued at approximately $30,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the sale, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PYPL shares. Wedbush restated an "outperform" rating and issued a $85.00 target price on shares of PayPal in a report on Thursday, February 8th. William Blair restated an "outperform" rating on shares of PayPal in a report on Thursday, February 8th. BMO Capital Markets upped their target price on shares of PayPal from $64.00 to $65.00 and gave the company a "market perform" rating in a report on Wednesday. Morgan Stanley restated an "equal weight" rating and issued a $66.00 target price (down previously from $118.00) on shares of PayPal in a report on Tuesday, January 9th. Finally, Evercore ISI upped their target price on shares of PayPal from $60.00 to $65.00 and gave the company an "in-line" rating in a report on Wednesday. Twenty-five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, PayPal currently has a consensus rating of "Hold" and a consensus price target of $72.73.

PayPal Price Performance

NASDAQ:PYPL traded down $1.78 during mid-day trading on Wednesday, hitting $66.14. 17,936,377 shares of the company's stock traded hands, compared to its average volume of 16,608,131. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. The firm's 50 day simple moving average is $63.39 and its 200 day simple moving average is $60.39. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54. The company has a market cap of $69.62 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.25 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). The business had revenue of $7.70 billion for the quarter, compared to analysts' expectations of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business's revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. Sell-side analysts expect that PayPal Holdings, Inc. will post 4.02 EPS for the current 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.

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.