LRI Investments LLC Sells 829 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

LRI Investments LLC reduced its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 33.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,655 shares of the credit services provider’s stock after selling 829 shares during the period. LRI Investments LLC’s holdings in PayPal were worth $108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Greatmark Investment Partners Inc. increased its position in shares of PayPal by 2.0% during the first quarter. Greatmark Investment Partners Inc. now owns 277,737 shares of the credit services provider’s stock worth $18,122,000 after acquiring an additional 5,473 shares in the last quarter. TruNorth Capital Management LLC bought a new stake in shares of PayPal during the first quarter worth about $80,000. Stephens Inc. AR increased its position in shares of PayPal by 4.9% during the first quarter. Stephens Inc. AR now owns 34,960 shares of the credit services provider’s stock worth $2,281,000 after acquiring an additional 1,633 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of PayPal by 4.5% during the first quarter. New York State Common Retirement Fund now owns 1,381,435 shares of the credit services provider’s stock worth $90,139,000 after acquiring an additional 59,419 shares in the last quarter. Finally, BankPlus Trust Department increased its position in shares of PayPal by 7.0% during the first quarter. BankPlus Trust Department now owns 12,640 shares of the credit services provider’s stock worth $825,000 after acquiring an additional 829 shares in the last quarter. 68.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PYPL has been the subject of several recent research reports. Evercore ISI initiated coverage on shares of PayPal in a research report on Wednesday, April 9th. They set an “in-line” rating and a $65.00 target price for the company. Compass Point assumed coverage on shares of PayPal in a research report on Wednesday, April 23rd. They set a “sell” rating and a $56.00 target price for the company. Wells Fargo & Company cut their price target on shares of PayPal from $80.00 to $74.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Robert W. Baird boosted their price target on shares of PayPal from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Finally, Barclays cut their price target on shares of PayPal from $110.00 to $80.00 and set an “overweight” rating on the stock in a report on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $83.42.

Insider Activity

In other news, Director Deborah M. Messemer sold 3,795 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total transaction of $277,035.00. Following the sale, the director owned 13,976 shares in the company, valued at approximately $1,020,248. This trade represents a 21.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Suzan Kereere sold 4,162 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total transaction of $304,824.88. Following the sale, the insider owned 48,483 shares in the company, valued at approximately $3,550,894.92. This trade represents a 7.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,796 shares of company stock worth $863,028. 0.08% of the stock is currently owned by corporate insiders.

PayPal Stock Performance

NASDAQ PYPL opened at $73.89 on Tuesday. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market capitalization of $71.86 billion, a PE ratio of 16.53, a P/E/G ratio of 1.17 and a beta of 1.45. The company’s 50 day simple moving average is $72.42 and its two-hundred day simple moving average is $73.46.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.17. PayPal had a net margin of 14.26% and a return on equity of 24.59%. The business had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.84 billion. During the same period in the prior year, the company posted $1.08 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal 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.