PayPal (NASDAQ:PYPL) Shares Down 2.9%

PayPal Holdings, Inc. (NASDAQ:PYPL) was down 2.9% during trading on Friday . The stock traded as low as $64.72 and last traded at $65.06. Approximately 5,718,674 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 16,442,396 shares. The stock had previously closed at $66.98.

Wall Street Analyst Weigh In

Several analysts have commented on PYPL shares. BTIG Research restated a “neutral” rating on shares of PayPal in a report on Friday, January 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $66.00 target price (down previously from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Oppenheimer reaffirmed a “market perform” rating on shares of PayPal in a research report on Thursday, January 25th. Wedbush restated an “outperform” rating and set a $85.00 price target on shares of PayPal in a report on Thursday, February 8th. Finally, BMO Capital Markets increased their price objective on shares of PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a research report on Wednesday. Twenty-five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, PayPal currently has an average rating of “Hold” and an average target price of $72.73.

PayPal Stock Down 1.9 %

The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47. The firm has a market cap of $68.73 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.22 and a beta of 1.41. The business has a 50-day moving average price of $63.56 and a 200-day moving average price of $60.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. The company’s revenue was up 9.4% compared to the same quarter last year. On average, equities analysts forecast that PayPal Holdings, Inc. will post 4.03 EPS for the current fiscal year.

Insider Activity at PayPal

In related news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the transaction, 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 available through this hyperlink. 0.14% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Morgan Stanley boosted its holdings in shares of PayPal by 4.5% in the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after acquiring an additional 873,181 shares during the last quarter. Norges Bank acquired a new stake in PayPal during the 4th quarter worth about $749,561,000. Northern Trust Corp raised its stake in shares of PayPal by 0.7% during the 3rd quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock valued at $687,902,000 after buying an additional 78,105 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of PayPal by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after buying an additional 265,116 shares during the period. Finally, FMR LLC boosted its stake 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 worth $404,367,000 after buying an additional 1,575,930 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.