Corebridge Financial Inc. Trims Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Corebridge Financial Inc. trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 329,106 shares of the credit services provider's stock after selling 15,918 shares during the period. Corebridge Financial Inc.'s holdings in PayPal were worth $28,089,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PYPL. United Bank lifted its stake in shares of PayPal by 9.7% in the third quarter. United Bank now owns 8,941 shares of the credit services provider's stock worth $698,000 after buying an additional 794 shares in the last quarter. Meridian Wealth Management LLC lifted its position in PayPal by 21.1% in the 3rd quarter. Meridian Wealth Management LLC now owns 9,499 shares of the credit services provider's stock valued at $741,000 after acquiring an additional 1,652 shares in the last quarter. Nicolet Advisory Services LLC lifted its position in PayPal by 13.2% in the 3rd quarter. Nicolet Advisory Services LLC now owns 4,623 shares of the credit services provider's stock valued at $357,000 after acquiring an additional 539 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of PayPal by 27.9% in the 3rd quarter. Cerity Partners LLC now owns 289,735 shares of the credit services provider's stock worth $22,608,000 after purchasing an additional 63,288 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its stake in shares of PayPal by 9.9% in the third quarter. Kingsview Wealth Management LLC now owns 18,318 shares of the credit services provider's stock worth $1,429,000 after purchasing an additional 1,652 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

Several research firms recently commented on PYPL. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of PayPal in a research report on Tuesday, February 4th. Royal Bank of Canada reiterated an "outperform" rating and issued a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Macquarie increased their price objective on shares of PayPal from $115.00 to $117.00 and gave the company an "outperform" rating in a research report on Monday, February 10th. Susquehanna lifted their target price on shares of PayPal from $94.00 to $101.00 and gave the stock a "positive" rating in a research report on Monday, January 6th. Finally, BTIG Research reiterated a "neutral" rating on shares of PayPal in a research note on Tuesday, February 4th. Fourteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal currently has an average rating of "Moderate Buy" and a consensus price target of $90.03.

Insiders Place Their Bets

In related news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the transaction, the director now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company's stock.

PayPal Price Performance

Shares of NASDAQ:PYPL traded down $0.11 during mid-day trading on Tuesday, reaching $70.86. The stock had a trading volume of 6,678,878 shares, compared to its average volume of 10,911,865. The business's 50 day moving average price is $77.93 and its 200 day moving average price is $80.91. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The company has a market cap of $70.10 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion for the quarter, compared to analysts' expectations of $8.27 billion. During the same period in the prior year, the firm earned $1.48 EPS. The company's revenue for the quarter was up 4.2% on a year-over-year basis. Research analysts expect that PayPal Holdings, Inc. will post 5.03 EPS 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.