PayPal (NASDAQ:PYPL) Shares Down 1.3% - Here's What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report)'s stock price dropped 1.3% during mid-day trading on Thursday . The stock traded as low as $71.61 and last traded at $72.10. Approximately 3,689,452 shares traded hands during trading, a decline of 66% from the average daily volume of 10,978,140 shares. The stock had previously closed at $73.07.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PYPL shares. BMO Capital Markets reduced their price target on PayPal from $83.00 to $79.00 and set a "market perform" rating for the company in a research report on Wednesday, April 30th. Royal Bank Of Canada reiterated an "outperform" rating and set a $88.00 price target on shares of PayPal in a research report on Thursday. Macquarie cut 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. Arete Research set a $81.00 target price on shares of PayPal in a report on Thursday, March 27th. Finally, UBS Group cut their price target on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PayPal presently has a consensus rating of "Hold" and a consensus target price of $83.42.

PayPal Trading Down 0.0%

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The firm's 50 day moving average price is $69.66 and its 200 day moving average price is $74.91. The stock has a market capitalization of $71.04 billion, a P/E ratio of 16.33, a P/E/G ratio of 1.22 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last issued 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. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The firm had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. During the same period last year, the company earned $1.08 EPS. The business's quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Diego Scotti sold 3,839 shares of PayPal stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the completion of the transaction, the executive vice president now directly owns 16,989 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Suzan Kereere sold 4,162 shares of the company's stock in a transaction that occurred 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 completion of the sale, the insider now owns 48,483 shares in the company, valued at $3,550,894.92. The trade was a 7.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in shares of PayPal by 15.2% during the fourth quarter. Brighton Jones LLC now owns 6,989 shares of the credit services provider's stock valued at $596,000 after buying an additional 924 shares during the last quarter. Revolve Wealth Partners LLC purchased a new stake in PayPal during the 4th quarter valued at $248,000. Y Intercept Hong Kong Ltd bought a new stake in shares of PayPal in the 4th quarter worth $1,348,000. IFP Advisors Inc raised its stake in shares of PayPal by 55.7% in the fourth quarter. IFP Advisors Inc now owns 12,220 shares of the credit services provider's stock worth $1,043,000 after purchasing an additional 4,370 shares during the last quarter. Finally, Crestwood Advisors Group LLC raised its stake in shares of PayPal by 22.6% in the fourth quarter. Crestwood Advisors Group LLC now owns 4,516 shares of the credit services provider's stock worth $385,000 after purchasing an additional 831 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

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.

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