PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lessened its stake in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,604,997 shares of the credit services provider's stock after selling 122,601 shares during the quarter. King Luther Capital Management Corp owned about 0.15% of PayPal worth $98,563,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in PayPal during the 4th quarter worth approximately $25,000. Sutton Wealth Advisors Inc. raised its stake 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 acquiring an additional 237 shares during the period. Private Wealth Management Group LLC purchased a new position in shares of PayPal in the 4th quarter valued at $29,000. Beacon Capital Management LLC lifted its holdings in shares of PayPal by 58.6% during the 4th quarter. Beacon Capital Management LLC now owns 609 shares of the credit services provider's stock valued at $36,000 after acquiring an additional 225 shares in the last quarter. Finally, EdgeRock Capital LLC purchased a new stake in PayPal during the 4th quarter worth $36,000. Institutional investors and hedge funds own 68.32% of the company's stock.

Insider Buying and Selling

In related news, SVP Frank Keller sold 7,686 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $1,420,795.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

PayPal Price Performance

PYPL traded down $0.67 on Tuesday, reaching $64.10. The company had a trading volume of 6,569,523 shares, compared to its average volume of 15,600,909. The company has a market capitalization of $67.05 billion, a P/E ratio of 16.10, a PEG ratio of 1.16 and a beta of 1.41. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a fifty day moving average of $64.77 and a 200-day moving average of $61.47. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $76.54.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts' consensus estimates of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same quarter last year, the company earned $0.86 earnings per share. The business's revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.13 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of PayPal from $75.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, February 8th. Wells Fargo & Company boosted their price objective on shares of PayPal from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 1st. StockNews.com downgraded PayPal from a "buy" rating to a "hold" rating in a research note on Tuesday. Wedbush reiterated an "outperform" rating and issued a $85.00 price target on shares of PayPal in a research note on Thursday, February 8th. Finally, Argus downgraded PayPal from a "buy" rating to a "hold" rating in a report on Friday, February 9th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $72.73.

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.

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