Quinn Opportunity Partners LLC Reduces Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Quinn Opportunity Partners LLC lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 16.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,100 shares of the credit services provider’s stock after selling 6,900 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in PayPal were worth $2,910,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hurley Capital LLC bought a new stake in PayPal during the 4th quarter worth approximately $27,000. Rosenberg Matthew Hamilton grew its position in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 125 shares in the last quarter. Sugarloaf Wealth Management LLC increased its holdings in shares of PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the period. Bernard Wealth Management Corp. bought a new stake in PayPal during the fourth quarter valued at $37,000. Finally, Modus Advisors LLC bought a new position in PayPal in the 4th quarter worth about $37,000. 68.32% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley lifted their price target on PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. Robert W. Baird cut their price target 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. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. Piper Sandler cut their target price on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Finally, Barclays raised their price target on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $88.32.

Insider Activity

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

PayPal Price Performance

PYPL opened at $60.56 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $59.91 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The stock’s 50 day moving average price is $70.19 and its 200-day moving average price is $79.87. PayPal Holdings, Inc. has a 52-week low of $55.85 and a 52-week high of $93.66.

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