Centerpoint Advisors LLC Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Centerpoint Advisors LLC lessened its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 40.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the credit services provider’s stock after selling 2,000 shares during the period. Centerpoint Advisors LLC’s holdings in PayPal were worth $201,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of PayPal during the 4th quarter valued at approximately $749,561,000. The Manufacturers Life Insurance Company increased its stake in shares of PayPal by 125.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after acquiring an additional 958,130 shares during the last quarter. Morgan Stanley increased its stake in shares of PayPal by 4.5% in the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after acquiring an additional 873,181 shares during the last quarter. Boston Partners increased its stake in shares of PayPal by 4,024.5% in the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock worth $48,099,000 after acquiring an additional 764,258 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its stake in shares of PayPal by 1,309.2% in the 4th quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock worth $49,168,000 after acquiring an additional 743,833 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on PYPL shares. Mizuho raised PayPal from a “neutral” rating to a “buy” rating and raised their target price for the stock from $68.00 to $90.00 in a research note on Thursday, May 30th. BMO Capital Markets raised their price objective on PayPal from $64.00 to $65.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 1st. Stephens raised their price objective on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. New Street Research initiated coverage on PayPal in a research report on Friday, May 31st. They set a “buy” rating and a $80.00 price objective for the company. Finally, Wells Fargo & Company raised their price objective on PayPal from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 1st. Twenty equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $73.82.

PayPal Stock Performance

PYPL traded down $0.67 during trading on Monday, hitting $59.09. 10,308,646 shares of the stock were exchanged, compared to its average volume of 14,872,044. The firm has a market capitalization of $61.81 billion, a P/E ratio of 14.88, a PEG ratio of 0.98 and a beta of 1.42. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54. The stock has a fifty day moving average price of $62.65 and a two-hundred day moving average price of $62.34. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.86 EPS. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.14 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the transaction, the director now owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.