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

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 research analyst reports. Citigroup decreased their price objective on shares of PayPal from $98.00 to $95.00 and set a "buy" rating for the company in a report on Tuesday, May 6th. UBS Group reduced their target price on shares of PayPal from $88.00 to $75.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. Seaport Res Ptn downgraded shares of PayPal from a "hold" rating to a "strong sell" rating in a research note on Thursday, April 17th. Bank of America reduced their target price on shares of PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, March 31st. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, PayPal presently has an average rating of "Hold" and an average target price of $83.42.

PayPal Trading Down 1.5%

The stock has a market capitalization of $72.97 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.24 and a beta of 1.45. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock's fifty day moving average price is $71.84 and its two-hundred day moving average price is $73.94.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share 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 analysts' expectations of $7.84 billion. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.08 EPS. Equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insiders Place Their Bets

In other PayPal news, insider Suzan Kereere sold 4,162 shares of the company's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the completion of the transaction, the insider directly owned 48,483 shares in the company, valued at approximately $3,550,894.92. This represents a 7.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the executive vice president owned 16,989 shares of the company's stock, valued at $1,244,274.36. This trade represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in PayPal by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 86,221,849 shares of the credit services provider's stock worth $5,625,976,000 after purchasing an additional 276,339 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of PayPal by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider's stock worth $1,849,884,000 after acquiring an additional 271,836 shares in the last quarter. FMR LLC increased its stake 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 acquiring an additional 2,161,582 shares in the last quarter. Capital Research Global Investors increased its stake 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 acquiring an additional 9,313,783 shares in the last quarter. Finally, Norges Bank bought a new position in shares of PayPal in the 4th quarter worth about $1,086,508,000. 68.32% of the stock is currently 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.