Alliancebernstein L.P. Sells 797,075 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Alliancebernstein L.P. trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 36.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,386,571 shares of the credit services provider's stock after selling 797,075 shares during the quarter. Alliancebernstein L.P. owned approximately 0.14% of PayPal worth $118,344,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd bought a new stake in PayPal in the third quarter valued at approximately $26,000. Rosenberg Matthew Hamilton increased its position in shares of PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock valued at $26,000 after buying an additional 125 shares in the last quarter. Sugarloaf Wealth Management LLC raised its stake in PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock worth $30,000 after buying an additional 272 shares during the period. Legacy Investment Solutions LLC bought a new position in PayPal during the third quarter worth about $36,000. Finally, Modus Advisors LLC acquired a new position in PayPal in the fourth quarter valued at about $37,000. 68.32% of the stock is owned by institutional investors.

PayPal Stock Performance

PayPal stock traded down $5.44 during mid-day trading on Thursday, hitting $61.71. 18,465,580 shares of the company's stock traded hands, compared to its average volume of 11,255,639. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66. The stock has a market cap of $61.05 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 1.27 and a beta of 1.60. The firm has a 50 day simple moving average of $74.82 and a two-hundred day simple moving average of $80.74. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

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PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal's revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.48 EPS. On average, research analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on PYPL. Barclays raised their price target on PayPal from $92.00 to $110.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Arete Research set a $81.00 target price on shares of PayPal in a report on Thursday, March 27th. Royal Bank of Canada reiterated an "outperform" rating and issued a $100.00 price target on shares of PayPal in a report on Thursday, December 12th. Robert W. Baird dropped their price objective on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a research note on Wednesday, February 26th. Sixteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $89.13.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares of the company's stock, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.14% of the company's stock.

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.