PayPal Holdings, Inc. (NASDAQ:PYPL) is Sound Shore Management Inc. CT's 8th Largest Position

Sound Shore Management Inc. CT trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,058,267 shares of the credit services provider's stock after selling 19,296 shares during the quarter. PayPal comprises approximately 3.0% of Sound Shore Management Inc. CT's portfolio, making the stock its 8th biggest position. Sound Shore Management Inc. CT owned approximately 0.11% of PayPal worth $90,323,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of PayPal in the 3rd quarter valued at about $26,000. Rosenberg Matthew Hamilton lifted its stake in PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock valued at $26,000 after buying an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC boosted its holdings in shares of PayPal by 344.3% in 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 period. Legacy Investment Solutions LLC purchased a new position in shares of PayPal during the third quarter worth approximately $36,000. Finally, Modus Advisors LLC acquired a new position in shares of PayPal in the 4th quarter valued at $37,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays increased their price target on shares of PayPal from $92.00 to $110.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. reissued an "overweight" rating on shares of PayPal in a report on Tuesday, February 4th. Morgan Stanley increased their price objective on PayPal from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. BTIG Research reiterated a "neutral" rating on shares of PayPal in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded PayPal from a "hold" rating to a "buy" rating in a research note on Tuesday, December 24th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, PayPal has an average rating of "Moderate Buy" and an average target price of $90.03.

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Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction that occurred on 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 sale, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

PayPal Trading Down 0.2 %

NASDAQ PYPL traded down $0.11 during mid-day trading on Tuesday, reaching $70.86. 6,678,878 shares of the stock were exchanged, compared to its average volume of 10,911,865. The business's fifty day simple moving average is $77.93 and its 200 day simple moving average is $80.91. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The stock has a market capitalization of $70.10 billion, a PE ratio of 17.67, a PEG ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $8.27 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The business's revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts anticipate 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.