Guggenheim Capital LLC Lowers Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Guggenheim Capital LLC lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 279,446 shares of the credit services provider’s stock after selling 61,039 shares during the period. Guggenheim Capital LLC’s holdings in PayPal were worth $23,851,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PYPL. Hurley Capital LLC purchased a new position in shares of PayPal in the 4th quarter worth $27,000. Rosenberg Matthew Hamilton raised its holdings in shares of 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 raised its holdings in shares of PayPal by 344.3% in the 4th 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. purchased a new stake in shares of PayPal during the 4th quarter worth about $37,000. Finally, Modus Advisors LLC acquired a new stake in PayPal during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the topic of a number of recent research reports. Evercore ISI began coverage on shares of PayPal in a research report on Wednesday, April 9th. They set an “in-line” rating and a $65.00 price target on the stock. Morgan Stanley upped their price target on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Piper Sandler cut their price objective on PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Monness Crespi & Hardt decreased their target price on PayPal from $120.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Finally, Robert W. Baird dropped their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Sixteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, PayPal has an average rating of “Moderate Buy” and a consensus price target of $88.00.

PayPal Stock Performance

Shares of PYPL stock opened at $62.27 on Tuesday. The company has a market cap of $61.60 billion, a P/E ratio of 15.53, a PEG ratio of 1.27 and a beta of 1.60. The business has a 50 day moving average of $69.54 and a two-hundred day moving average of $79.65. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. 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 released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’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 completion of the transaction, the director now directly owns 29,734 shares of the company’s stock, valued at $2,145,308.10. The trade was a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

PayPal Company 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.