CANADA LIFE ASSURANCE Co Cuts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

CANADA LIFE ASSURANCE Co trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,891,038 shares of the credit services provider's stock after selling 9,295 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.19% of PayPal worth $161,275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of PYPL. Rosenberg Matthew Hamilton lifted 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 worth $26,000 after acquiring an additional 125 shares during the period. Hurley Capital LLC bought a new stake in PayPal in the fourth quarter valued at approximately $27,000. Sugarloaf Wealth Management LLC lifted its holdings in PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock worth $30,000 after acquiring an additional 272 shares in the last quarter. Modus Advisors LLC acquired a new position in shares of PayPal in the fourth quarter valued at approximately $37,000. Finally, Bernard Wealth Management Corp. acquired a new position in shares of PayPal during the fourth quarter worth about $37,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PYPL. Macquarie upped their price objective on PayPal from $115.00 to $117.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Barclays lowered their price target on shares of PayPal from $110.00 to $80.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. restated an "overweight" rating on shares of PayPal in a research report on Tuesday, February 4th. Piper Sandler reduced their target price on PayPal from $85.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Finally, Citigroup reaffirmed an "outperform" rating on shares of PayPal in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.84.

PayPal Trading Down 1.9 %

PayPal stock traded down $1.14 during trading on Monday, hitting $59.86. The company had a trading volume of 2,659,826 shares, compared to its average volume of 11,442,281. The company's 50 day simple moving average is $68.22 and its 200-day simple moving average is $79.19. PayPal Holdings, Inc. has a 1-year low of $55.85 and a 1-year high of $93.66. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $59.22 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly 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 company had revenue of $8.37 billion during the quarter, compared to analysts' expectations of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm's revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.48 EPS. As a group, analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other PayPal 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 owns 29,734 shares in the company, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.14% of the stock is owned by insiders.

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.