Archer Investment Corp Trims Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Archer Investment Corp cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 35.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,296 shares of the credit services provider’s stock after selling 714 shares during the quarter. Archer Investment Corp’s holdings in PayPal were worth $80,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of PayPal by 5.0% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 26,855 shares of the credit services provider’s stock worth $1,661,000 after acquiring an additional 1,273 shares during the period. Alpha Omega Wealth Management LLC boosted its stake in shares of PayPal by 5.9% during the fourth quarter. Alpha Omega Wealth Management LLC now owns 21,837 shares of the credit services provider’s stock valued at $1,341,000 after purchasing an additional 1,217 shares in the last quarter. Rakuten Securities Inc. bought a new position in shares of PayPal during the fourth quarter valued at approximately $667,000. Avior Wealth Management LLC boosted its stake in shares of PayPal by 105.5% during the fourth quarter. Avior Wealth Management LLC now owns 27,545 shares of the credit services provider’s stock valued at $1,692,000 after purchasing an additional 14,139 shares in the last quarter. Finally, Allen Capital Group LLC boosted its stake in shares of PayPal by 10.6% during the fourth quarter. Allen Capital Group LLC now owns 20,771 shares of the credit services provider’s stock valued at $1,276,000 after purchasing an additional 1,996 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PayPal 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 value of $466,079.04. Following the completion of the transaction, the senior vice president now owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by corporate insiders.

PayPal Trading Down 0.3 %

Shares of PayPal stock opened at $63.26 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a fifty day moving average price of $62.15 and a 200 day moving average price of $59.89. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $77.94. The stock has a market cap of $66.59 billion, a PE ratio of 16.47, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last issued its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.12. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the company posted $1.01 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts predict that PayPal Holdings, Inc. will post 3.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of recent research reports. Argus downgraded shares of PayPal from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. UBS Group increased their price objective on shares of PayPal from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, March 1st. Susquehanna raised their target price on shares of PayPal from $61.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Citigroup lowered their target price on shares of PayPal from $76.00 to $73.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Finally, Evercore ISI raised their target price on shares of PayPal from $56.00 to $60.00 and gave the company an “in-line” rating in a research note on Tuesday, March 26th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, PayPal presently has an average rating of “Hold” and a consensus target price of $70.53.

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.