Prudential Financial Inc. Sells 459,738 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Prudential Financial Inc. decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 18.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,968,112 shares of the credit services provider's stock after selling 459,738 shares during the quarter. Prudential Financial Inc. owned 0.20% of PayPal worth $167,978,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PYPL. Gordian Capital Singapore Pte Ltd purchased a new position in PayPal in the 3rd quarter worth approximately $26,000. Rosenberg Matthew Hamilton lifted its holdings in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock worth $26,000 after acquiring an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC grew its position 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 acquiring an additional 272 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in PayPal in the third quarter valued at $36,000. Finally, Modus Advisors LLC purchased a new stake in PayPal during the fourth quarter valued at about $37,000. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Down 0.2 %

PYPL traded down $0.11 during 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 company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $70.10 billion, a price-to-earnings ratio of 17.67, a P/E/G ratio of 1.27 and a beta of 1.52. The stock's 50 day moving average is $77.93 and its two-hundred day moving average is $80.91. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66.

Remove Ads

PayPal (NASDAQ:PYPL - Get Free Report) last issued its quarterly earnings results 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 net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period last year, the business earned $1.48 EPS. PayPal's quarterly revenue was up 4.2% compared to the same quarter last year. As a group, analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Wall Street Analyst Weigh In

PYPL has been the subject of a number of research reports. Bank of America upgraded PayPal from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Macquarie upped their target price on PayPal from $115.00 to $117.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th. Susquehanna lifted their price target on shares of PayPal from $94.00 to $101.00 and gave the stock a "positive" rating in a research note on Monday, January 6th. Wolfe Research raised shares of PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 price objective for the company in a research note on Friday, December 13th. Finally, Citigroup reaffirmed an "outperform" rating on shares of PayPal in a report on Wednesday, February 5th. Fourteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $90.03.

Insider Activity

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now directly owns 29,734 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. Company insiders own 0.14% of the company's stock.

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.