Fisher Asset Management LLC Sells 31,953 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Fisher Asset Management LLC lessened its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 425,654 shares of the credit services provider’s stock after selling 31,953 shares during the quarter. Fisher Asset Management LLC’s holdings in PayPal were worth $26,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PYPL. Hartford Financial Management Inc. raised its holdings in PayPal by 18.8% in the 4th quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock worth $63,000 after purchasing an additional 163 shares in the last quarter. Pine Haven Investment Counsel Inc raised its stake in PayPal by 3.7% in the fourth quarter. Pine Haven Investment Counsel Inc now owns 4,705 shares of the credit services provider’s stock worth $289,000 after buying an additional 170 shares in the last quarter. Brooks Moore & Associates Inc. raised its stake in PayPal by 1.3% in the third quarter. Brooks Moore & Associates Inc. now owns 14,391 shares of the credit services provider’s stock worth $841,000 after buying an additional 180 shares in the last quarter. Waldron Private Wealth LLC lifted its holdings in PayPal by 1.9% in the fourth quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock worth $590,000 after buying an additional 182 shares during the period. Finally, New World Advisors LLC boosted its position in PayPal by 2.9% during the 4th quarter. New World Advisors LLC now owns 6,586 shares of the credit services provider’s stock valued at $404,000 after acquiring an additional 185 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Activity at PayPal

In other news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Susquehanna raised their target price on PayPal from $61.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Morgan Stanley reissued an “equal weight” rating and set a $66.00 price objective (down previously from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. Daiwa Capital Markets downgraded shares of PayPal from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $64.00 to $62.00 in a research report on Tuesday, February 13th. William Blair reissued an “outperform” rating on shares of PayPal in a research report on Thursday, February 8th. Finally, Citigroup dropped their price objective on shares of PayPal from $76.00 to $73.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Twenty-five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, PayPal presently has a consensus rating of “Hold” and an average target price of $72.73.

PayPal Stock Performance

PYPL stock opened at $65.70 on Friday. The company has a market cap of $68.73 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 1.20 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.29. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54. The stock’s fifty day moving average price is $63.69 and its 200-day moving average price is $60.50.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.13 earnings per share for the current year.

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.