Corebridge Financial Inc. Has $28.09 Million Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Corebridge Financial Inc. reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 329,106 shares of the credit services provider’s stock after selling 15,918 shares during the quarter. Corebridge Financial Inc.’s holdings in PayPal were worth $28,089,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in PYPL. Gordian Capital Singapore Pte Ltd acquired a new position in PayPal during the 3rd quarter valued at about $26,000. Rosenberg Matthew Hamilton lifted its holdings in shares of PayPal by 67.6% in the fourth 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 boosted its position in shares of PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in PayPal during the third quarter worth $36,000. Finally, Modus Advisors LLC purchased a new stake in PayPal in the 4th quarter valued at $37,000. 68.32% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Robert W. Baird cut their price objective on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of PayPal in a research report on Tuesday, February 4th. Macquarie lifted their target price on shares of PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price on the stock in a research note on Friday, December 13th. Finally, Barclays increased 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. Fourteen 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 company. According to data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and a consensus target price of $90.03.

Insider Buying and Selling

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal 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 completion of the sale, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by company insiders.

PayPal Price Performance

PYPL stock opened at $70.19 on Monday. The firm has a 50 day moving average of $78.19 and a 200-day moving average of $80.92. The firm has a market capitalization of $69.43 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL) last announced 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. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the firm earned $1.48 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share 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.