IPG Investment Advisors LLC Cuts Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

IPG Investment Advisors LLC lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 70.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,244 shares of the credit services provider’s stock after selling 10,193 shares during the period. IPG Investment Advisors LLC’s holdings in PayPal were worth $362,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of PayPal in the 4th quarter worth approximately $1,086,508,000. Artisan Partners Limited Partnership grew its holdings in PayPal by 284.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock valued at $666,100,000 after purchasing an additional 5,772,198 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PayPal by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,615,476 shares of the credit services provider’s stock valued at $564,631,000 after buying an additional 84,337 shares in the last quarter. World Investment Advisors LLC acquired a new position in shares of PayPal during the 3rd quarter worth $387,435,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after buying an additional 2,689,162 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Down 5.4 %

NASDAQ PYPL opened at $65.15 on Friday. The stock has a market cap of $64.45 billion, a PE ratio of 16.25, a P/E/G ratio of 1.27 and a beta of 1.52. The business has a 50 day moving average price of $76.28 and a two-hundred day moving average price of $80.82. 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 Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The company’s revenue for the quarter 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 EPS for the current fiscal year.

Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction on 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 directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. BTIG Research reissued a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. DZ Bank raised PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Friday, February 28th. Citigroup reaffirmed an “outperform” rating on shares of PayPal in a research note on Wednesday, February 5th. Barclays boosted their target price on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Sixteen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.03.

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.