Vanguard Group Inc. Sells 778,757 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Vanguard Group Inc. lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 0.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 85,945,510 shares of the credit services provider's stock after selling 778,757 shares during the quarter. Vanguard Group Inc. owned about 8.69% of PayPal worth $7,335,449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider's stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares during the period. World Investment Advisors LLC bought a new stake in shares of PayPal during the third quarter valued at approximately $387,435,000. Robeco Institutional Asset Management B.V. grew its stake in PayPal by 174.1% in the fourth 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 purchasing an additional 2,689,162 shares during the period. Raymond James Financial Inc. bought a new position in PayPal in the fourth quarter worth $135,537,000. Finally, Contrarius Group Holdings Ltd purchased a new position in PayPal during the fourth quarter valued at $81,342,000. 68.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PYPL shares. Wolfe Research upgraded shares of PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 price target for the company in a research note on Friday, December 13th. JPMorgan Chase & Co. reaffirmed an "overweight" rating on shares of PayPal in a research note on Tuesday, February 4th. DZ Bank raised PayPal from a "hold" rating to a "buy" rating and set a $92.00 price target on the stock in a research report on Friday, February 28th. Morgan Stanley raised their price objective on PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. Finally, Macquarie lifted their price objective on PayPal from $115.00 to $117.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $90.03.

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PayPal Stock Performance

PYPL traded down $0.19 during trading on Tuesday, hitting $70.78. The company's stock had a trading volume of 5,262,290 shares, compared to its average volume of 10,911,865. The business's 50 day simple moving average is $77.93 and its 200-day simple moving average is $80.91. The firm has a market cap of $70.02 billion, a PE ratio of 17.65, a P/E/G ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a one year low of $56.97 and a one year 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 announced 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. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $8.37 billion for the quarter, compared to analysts' expectations of $8.27 billion. During the same period last year, the firm earned $1.48 EPS. PayPal's revenue for the quarter was up 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Activity at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now owns 29,734 shares of the company's stock, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.