PayPal (NASDAQ:PYPL) Stock Price Down 4.4% - Here's What Happened

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) traded down 4.4% on Thursday . The company traded as low as $60.49 and last traded at $61.11. 3,129,329 shares changed hands during trading, a decline of 73% from the average session volume of 11,409,156 shares. The stock had previously closed at $63.95.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PYPL. Monness Crespi & Hardt cut their price target on PayPal from $120.00 to $90.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Arete Research set a $81.00 target price on shares of PayPal in a research note on Thursday, March 27th. StockNews.com downgraded shares of PayPal from a "buy" rating to a "hold" rating in a research report on Monday. Evercore ISI initiated coverage on PayPal in a research note on Wednesday, April 9th. They set an "in-line" rating and a $65.00 price target on the stock. Finally, Bank of America reduced their price objective on shares of PayPal from $103.00 to $93.00 and set a "buy" rating for the company in a report on Monday. Sixteen analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

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PayPal Trading Down 0.5 %

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 $61.60 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The stock has a 50-day moving average price of $69.88 and a two-hundred day moving average price of $79.76.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. On average, research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling

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 directly owns 29,734 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

Hedge Funds Weigh In On PayPal

Several large investors have recently modified their holdings of the stock. Mpwm Advisory Solutions LLC purchased a new position in PayPal in the 4th quarter worth about $25,000. Rosenberg Matthew Hamilton raised its holdings 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 purchasing an additional 125 shares during the last quarter. Hurley Capital LLC purchased a new position in shares of PayPal during the fourth quarter valued at approximately $27,000. Sugarloaf Wealth Management LLC boosted its holdings in PayPal by 344.3% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Finally, Bernard Wealth Management Corp. bought a new stake in PayPal in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 68.32% of the company's stock.

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.