EverSource Wealth Advisors LLC Cuts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

EverSource Wealth Advisors LLC lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 38.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,763 shares of the credit services provider’s stock after selling 3,607 shares during the period. EverSource Wealth Advisors LLC’s holdings in PayPal were worth $492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Relyea Zuckerberg Hanson LLC boosted its holdings in shares of PayPal by 113.8% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after purchasing an additional 3,976 shares during the last quarter. World Investment Advisors LLC bought a new position in PayPal during the third quarter valued at approximately $387,435,000. Equity Investment Corp grew its holdings in PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after buying an additional 67,497 shares in the last quarter. Fortem Financial Group LLC increased its stake in PayPal by 28.0% in the 4th quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock worth $2,842,000 after acquiring an additional 7,291 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of PayPal by 120.3% during the 3rd quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock worth $125,461,000 after acquiring an additional 849,311 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PYPL shares. BTIG Research reissued a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective for the company in a research note on Friday, December 13th. Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. DZ Bank upgraded PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Friday, February 28th. Finally, Susquehanna upped their price objective on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research report on Monday, January 6th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

Insider Buying and Selling at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.14% of the company’s stock.

PayPal Stock Performance

PYPL stock opened at $68.95 on Friday. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The business has a 50-day moving average price of $79.96 and a 200 day moving average price of $80.88. The company has a market capitalization of $68.21 billion, a P/E ratio of 17.19, a PEG ratio of 1.27 and a beta of 1.52. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.48 EPS. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

PayPal 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.