Freestone Capital Holdings LLC Trims Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Freestone Capital Holdings LLC trimmed its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 39.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,751 shares of the credit services provider's stock after selling 29,895 shares during the quarter. Freestone Capital Holdings LLC's holdings in PayPal were worth $3,905,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Mizuho Securities USA LLC raised its stake in PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider's stock valued at $819,315,000 after purchasing an additional 10,419,351 shares in the last quarter. FMR LLC increased its holdings in shares of PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider's stock worth $1,307,945,000 after buying an additional 7,767,072 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of PayPal during the 3rd quarter valued at $387,435,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of PayPal by 174.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider's stock worth $361,316,000 after acquiring an additional 2,689,162 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of PayPal during the 4th quarter worth $135,537,000. Hedge funds and other institutional investors own 68.32% of the company's stock.

Wall Street Analysts Forecast Growth

PYPL has been the topic of several recent research reports. Bank of America upgraded PayPal from a "neutral" rating to a "buy" rating and increased their price objective for the company from $86.00 to $103.00 in a research report on Monday, December 9th. Robert W. Baird decreased their price target on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 5th. Macquarie boosted their price objective on shares of PayPal from $115.00 to $117.00 and gave the stock an "outperform" rating in a report on Monday, February 10th. Morgan Stanley increased their target price on shares of PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Finally, Susquehanna boosted their price target on shares of PayPal from $94.00 to $101.00 and gave the stock a "positive" rating in a research note on Monday, January 6th. Fourteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $90.03.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm's 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 sale, the director now owns 29,734 shares of the company's stock, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.14% of the company's stock.

PayPal Stock Performance

PayPal stock opened at $69.50 on Thursday. The stock's 50 day moving average is $82.48 and its 200 day moving average is $81.09. The company has a market capitalization of $68.75 billion, a P/E ratio of 17.33, a PEG ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a twelve month low of $56.97 and a twelve month high of $93.66. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.11 by $0.08. The firm 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 company's quarterly revenue was up 4.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 earnings per share. On average, equities research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.

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