PayPal Holdings, Inc. (NASDAQ:PYPL) Holdings Cut by Zacks Investment Management

Zacks Investment Management reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 14.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,396 shares of the credit services provider’s stock after selling 17,114 shares during the period. Zacks Investment Management’s holdings in PayPal were worth $8,654,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PYPL. Rosenberg Matthew Hamilton grew its stake in 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. Hurley Capital LLC acquired a new stake in shares of PayPal during the 4th quarter valued at about $27,000. Sugarloaf Wealth Management LLC grew its stake 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 valued at $30,000 after buying an additional 272 shares in the last quarter. Modus Advisors LLC bought a new position in PayPal during the fourth quarter valued at approximately $37,000. Finally, Bernard Wealth Management Corp. bought a new position in shares of PayPal during the 4th quarter valued at $37,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PYPL has been the subject of a number of recent research reports. Bank of America decreased their price objective on shares of PayPal from $103.00 to $93.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, February 26th. Robert W. Baird dropped their price target on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 5th. Finally, Arete Research set a $81.00 price objective on shares of PayPal in a report on Thursday, March 27th. Sixteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $86.84.

PayPal Stock Down 2.8 %

Shares of PYPL opened at $60.24 on Thursday. PayPal Holdings, Inc. has a 12 month low of $55.85 and a 12 month high of $93.66. The stock has a market cap of $59.59 billion, a price-to-earnings ratio of 15.02, a P/E/G ratio of 1.27 and a beta of 1.60. The company has a 50-day moving average price of $68.87 and a two-hundred day moving average price of $79.40. 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 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 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 quarter in the previous year, the firm earned $1.48 EPS. PayPal’s quarterly revenue was up 4.2% on a year-over-year basis. Equities analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal 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. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

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.