Federated Hermes Inc. Sells 302,157 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Federated Hermes Inc. cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 94.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,103 shares of the credit services provider's stock after selling 302,157 shares during the period. Federated Hermes Inc.'s holdings in PayPal were worth $1,460,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PYPL. Park Place Capital Corp raised its stake in shares of PayPal by 6.6% in the 4th quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider's stock valued at $161,000 after purchasing an additional 116 shares in the last quarter. Rosenberg Matthew Hamilton grew 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 in the last quarter. JFS Wealth Advisors LLC increased its holdings in shares of PayPal by 33.2% in the 4th quarter. JFS Wealth Advisors LLC now owns 502 shares of the credit services provider's stock valued at $43,000 after acquiring an additional 125 shares during the last quarter. Wynn Capital LLC lifted its stake in PayPal by 1.1% during the fourth quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider's stock worth $983,000 after purchasing an additional 130 shares during the last quarter. Finally, Avalon Trust Co increased its stake in PayPal by 7.0% during the fourth quarter. Avalon Trust Co now owns 2,067 shares of the credit services provider's stock valued at $176,000 after purchasing an additional 135 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Up 1.3 %

Shares of PYPL stock traded up $0.76 on Friday, reaching $61.00. 9,020,112 shares of the company's stock traded hands, compared to its average volume of 11,483,897. The business's 50 day moving average price is $68.22 and its two-hundred day moving average price is $79.17. The company has a market capitalization of $60.34 billion, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66.

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

Insiders Place Their Bets

In related news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction 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 in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PYPL. Citigroup reaffirmed an "outperform" rating on shares of PayPal in a research report on Wednesday, February 5th. Barclays reduced their price objective on PayPal from $110.00 to $80.00 and set an "overweight" rating for the company in a research report on Tuesday. Macquarie raised their target price on PayPal from $115.00 to $117.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods dropped their price objective on shares of PayPal from $104.00 to $85.00 and set an "outperform" rating on the stock in a report on Monday, March 31st. Finally, Wells Fargo & Company decreased their target price on shares of PayPal from $80.00 to $74.00 and set an "equal weight" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, PayPal presently has a consensus rating of "Moderate Buy" and an average price target of $86.84.

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.