PayPal Holdings, Inc. (NASDAQ:PYPL) Position Cut by 1ST Source Bank

1ST Source Bank lowered its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 38.0% in the 1st quarter, Holdings Channel reports. The fund owned 14,045 shares of the credit services provider’s stock after selling 8,591 shares during the period. 1ST Source Bank’s holdings in PayPal were worth $941,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PYPL. Norges Bank bought a new stake in shares of PayPal during the 4th quarter worth about $749,561,000. The Manufacturers Life Insurance Company raised 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 buying an additional 958,130 shares in the last quarter. Boston Partners lifted its holdings in shares of PayPal by 4,024.5% in the fourth quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after buying an additional 764,258 shares during the period. Panagora Asset Management Inc. boosted its stake in PayPal by 1,309.2% during the fourth quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock valued at $49,168,000 after buying an additional 743,833 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in PayPal by 31.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock worth $194,262,000 after acquiring an additional 687,940 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Transactions at PayPal

In related 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 completion of the sale, the director now directly owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JMP Securities raised their price objective on shares of PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 1st. William Blair cut shares of PayPal from an “outperform” rating to a “market perform” rating in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $84.00 price target on shares of PayPal in a research report on Friday, June 28th. UBS Group increased their price objective on PayPal from $63.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, New Street Research began coverage on PayPal in a research report on Friday, May 31st. They set a “buy” rating and a $80.00 target price on the stock. Twenty-one research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.82.

PayPal Stock Down 1.1 %

NASDAQ PYPL traded down $0.67 during trading on Friday, reaching $59.33. The company’s stock had a trading volume of 9,352,934 shares, compared to its average volume of 10,974,626. The business has a 50-day moving average price of $61.52 and a 200-day moving average price of $62.19. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $76.54. The stock has a market capitalization of $62.06 billion, a PE ratio of 14.94, a PEG ratio of 0.98 and a beta of 1.42. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 earnings per share. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.15 earnings per share for the current fiscal year.

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.