Mitchell Mcleod Pugh & Williams Inc. Sells 1,928 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Mitchell Mcleod Pugh & Williams Inc. trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 35.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,584 shares of the credit services provider’s stock after selling 1,928 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in PayPal were worth $220,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Morgan Stanley grew its holdings in PayPal by 4.5% during the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after acquiring an additional 873,181 shares during the last quarter. Northern Trust Corp grew its stake in shares of PayPal by 0.7% during the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock valued at $687,902,000 after purchasing an additional 78,105 shares during the last quarter. FMR LLC increased its holdings in shares of PayPal by 29.5% in the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after purchasing an additional 1,575,930 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in shares of PayPal by 4.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,906,516 shares of the credit services provider’s stock valued at $286,835,000 after purchasing an additional 215,835 shares in the last quarter. Finally, Atreides Management LP raised its position in PayPal by 9.3% in the 3rd quarter. Atreides Management LP now owns 4,174,520 shares of the credit services provider’s stock worth $244,042,000 after purchasing an additional 355,411 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PYPL shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $74.00 price objective on shares of PayPal in a research report on Thursday, March 21st. Susquehanna increased their price objective on shares of PayPal from $61.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. Sanford C. Bernstein lifted their price objective on PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Finally, Oppenheimer restated a “market perform” rating on shares of PayPal in a report on Thursday, January 25th. Twenty-three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $70.72.

PayPal Stock Performance

Shares of PYPL stock opened at $66.99 on Tuesday. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $76.54. The company has a market capitalization of $70.52 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.23 and a beta of 1.45. The company has a 50-day simple moving average of $63.03 and a 200 day simple moving average of $60.27. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 20.84% and a net margin of 14.26%. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the previous year, the business posted $0.86 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 4.02 earnings per share for the current year.

Insider Activity at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the sale, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently 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.