Smith Moore & CO. Sells 564 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Smith Moore & CO. lowered its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 15.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,030 shares of the credit services provider’s stock after selling 564 shares during the period. Smith Moore & CO.’s holdings in PayPal were worth $259,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in PYPL. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal in the third quarter worth about $26,000. Rosenberg Matthew Hamilton increased its stake in PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the period. Sugarloaf Wealth Management LLC lifted its position in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 272 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in PayPal in the third quarter valued at approximately $36,000. Finally, Modus Advisors LLC purchased a new stake in shares of PayPal during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PYPL shares. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of PayPal in a report on Thursday, December 12th. Robert W. Baird lowered their price objective on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Piper Sandler dropped their target price on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a report on Wednesday, February 26th. DZ Bank upgraded PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Friday, February 28th. Finally, Susquehanna increased their price objective on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PayPal presently has an average rating of “Moderate Buy” and a consensus target price of $89.13.

Insider Activity

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

PayPal Stock Down 5.4 %

NASDAQ:PYPL opened at $58.37 on Friday. The firm has a 50-day simple moving average of $73.65 and a two-hundred day simple moving average of $80.58. The firm has a market cap of $57.74 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.27 and a beta of 1.60. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26.

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