PayPal (NASDAQ:PYPL) Shares Down 1.5% - Here's What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report)'s stock price fell 1.5% during trading on Friday . The company traded as low as $74.35 and last traded at $74.55. 1,462,549 shares were traded during mid-day trading, a decline of 86% from the average session volume of 10,792,251 shares. The stock had previously closed at $75.70.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PYPL. Robert W. Baird lifted their price target on shares of PayPal from $78.00 to $79.00 and gave the company an "outperform" rating in a research report on Wednesday, April 30th. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a research report on Wednesday, April 30th. Barclays dropped their target price on PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. 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. Finally, Wall Street Zen raised shares of PayPal from a "hold" rating to a "buy" rating in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $83.42.

PayPal Trading Up 3.5%

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 stock's 50 day moving average is $72.31 and its 200-day moving average is $73.55. The company has a market capitalization of $71.86 billion, a P/E ratio of 16.53, a P/E/G ratio of 1.17 and a beta of 1.45.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results 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 during the quarter, compared to analysts' expectations of $7.84 billion. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.08 EPS. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Suzan Kereere sold 4,162 shares of the firm's 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 $304,824.88. Following the completion of the sale, the insider owned 48,483 shares of the company's stock, valued at $3,550,894.92. This trade represents a 7.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Diego Scotti sold 3,839 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $281,168.36. Following the sale, the executive vice president owned 16,989 shares in the company, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,796 shares of company stock valued at $863,028 over the last quarter. Corporate insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On PayPal

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in PayPal during the fourth quarter valued at approximately $1,086,508,000. Capital Research Global Investors lifted its holdings in shares of PayPal by 108.2% during the 4th 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 buying an additional 9,313,783 shares during the period. Nuveen LLC purchased a new position in shares of PayPal in the 1st quarter worth $529,264,000. Artisan Partners Limited Partnership grew its holdings 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 worth $666,100,000 after acquiring an additional 5,772,198 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings 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 worth $558,499,000 after acquiring an additional 2,638,815 shares during the period. Institutional investors own 68.32% of the company's stock.

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.