PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. reduced its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,106 shares of the credit services provider’s stock after selling 15,918 shares during the period. Corebridge Financial Inc.’s holdings in PayPal were worth $28,089,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its stake in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after purchasing an additional 7,767,072 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of PayPal by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,615,476 shares of the credit services provider’s stock worth $564,631,000 after acquiring an additional 84,337 shares in the last quarter. World Investment Advisors LLC acquired a new stake in PayPal in the third quarter valued at $387,435,000. Robeco Institutional Asset Management B.V. grew its holdings in PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after acquiring an additional 2,689,162 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of PayPal by 4.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,570,789 shares of the credit services provider’s stock worth $200,599,000 after purchasing an additional 106,435 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PYPL has been the topic of several recent research reports. Macquarie raised their price target on PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. Bank of America raised PayPal from a “neutral” rating to a “buy” rating and upped their price target for the company from $86.00 to $103.00 in a report on Monday, December 9th. Piper Sandler lowered their price objective on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday, February 26th. Finally, DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Friday, February 28th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.03.

PayPal Trading Up 0.7 %

PYPL opened at $70.19 on Monday. PayPal Holdings, Inc. has a twelve month low of $56.97 and a twelve month high of $93.66. The company has a fifty day moving average of $78.19 and a 200-day moving average of $80.92. The stock has a market cap of $69.43 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the company posted $1.48 EPS. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current 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.