OVERSEA CHINESE BANKING Corp Ltd Sells 153,040 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

OVERSEA CHINESE BANKING Corp Ltd cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 91.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,518 shares of the credit services provider's stock after selling 153,040 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in PayPal were worth $1,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PYPL. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PayPal during the third quarter valued at $26,000. Rosenberg Matthew Hamilton boosted its stake in shares of PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock valued at $26,000 after acquiring an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its stake in shares of PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock valued at $30,000 after acquiring an additional 272 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of PayPal during the third quarter valued at $36,000. Finally, Modus Advisors LLC acquired a new stake in shares of PayPal during the fourth quarter valued at $37,000. 68.32% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares in the company, valued at $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 available at this link. 0.14% of the stock is owned by insiders.

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PayPal Stock Up 0.7 %

Shares of NASDAQ:PYPL traded up $0.52 on Friday, reaching $70.19. The company had a trading volume of 14,602,008 shares, compared to its average volume of 10,922,245. 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. The stock has a market capitalization of $69.43 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.27 and a beta of 1.52. The stock has a 50-day moving average price of $78.19 and a 200 day moving average price of $80.86.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share 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 during the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter in the previous year, the firm earned $1.48 EPS. The firm's revenue was up 4.2% compared to the same quarter last year. On average, equities analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PYPL. Citigroup reiterated an "outperform" rating on shares of PayPal in a research report on Wednesday, February 5th. JPMorgan Chase & Co. restated an "overweight" rating on shares of PayPal in a report on Tuesday, February 4th. DZ Bank upgraded PayPal from a "hold" rating to a "buy" rating and set a $92.00 price objective on the stock in a report on Friday, February 28th. StockNews.com upgraded PayPal from a "hold" rating to a "buy" rating in a report on Tuesday, December 24th. Finally, Wells Fargo & Company restated an "equal weight" rating on shares of PayPal in a report on Wednesday, February 5th. Fourteen research 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 company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $90.03.

PayPal 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.