PayPal (NASDAQ:PYPL) Stock Price Down 1.3% - What's Next?

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) dropped 1.3% during mid-day trading on Tuesday . The company traded as low as $74.92 and last traded at $75.19. Approximately 2,038,191 shares were traded during trading, a decline of 81% from the average daily volume of 10,813,125 shares. The stock had previously closed at $76.18.

Analysts Set New Price Targets

PYPL has been the subject of a number of recent analyst reports. Truist Financial initiated coverage on shares of PayPal in a report on Monday, June 2nd. They set a "sell" rating and a $68.00 price target for the company. Canaccord Genuity Group restated a "buy" rating and set a $96.00 price target on shares of PayPal in a report on Wednesday, April 30th. Seaport Res Ptn downgraded shares of PayPal from a "hold" rating to a "strong sell" rating in a report on Thursday, April 17th. Wells Fargo & Company cut their price target on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods cut their price target on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating for the company in a report on Monday, March 31st. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $83.42.

PayPal Trading Up 1.2%

The stock has a market capitalization of $73.62 billion, a PE ratio of 16.94, a PEG ratio of 1.22 and a beta of 1.45. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56. The business's 50-day moving average is $72.02 and its two-hundred day moving average is $73.95.

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

Insider Buying and Selling at PayPal

In other news, EVP Diego Scotti sold 3,839 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $281,168.36. Following the transaction, the executive vice president directly owned 16,989 shares in the company, valued at $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Suzan Kereere sold 4,162 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $304,824.88. Following the transaction, the insider owned 48,483 shares in the company, valued at approximately $3,550,894.92. This trade represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of PayPal in the fourth quarter valued at approximately $1,086,508,000. Capital Research Global Investors grew its position in shares of PayPal by 108.2% in the fourth 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 purchasing an additional 9,313,783 shares during the last quarter. Nuveen LLC acquired a new stake in shares of PayPal in the first quarter valued at approximately $529,264,000. Artisan Partners Limited Partnership grew its position in shares of PayPal by 284.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider's stock valued at $666,100,000 after purchasing an additional 5,772,198 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of PayPal by 44.6% in the first quarter. Goldman Sachs Group Inc. now owns 8,559,376 shares of the credit services provider's stock valued at $558,499,000 after purchasing an additional 2,638,815 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.