SP Asset Management LLC Lowers Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

SP Asset Management LLC cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 18.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,669 shares of the credit services provider's stock after selling 5,950 shares during the quarter. SP Asset Management LLC's holdings in PayPal were worth $2,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PYPL. Gordian Capital Singapore Pte Ltd bought a new position in shares of PayPal in the 3rd quarter worth $26,000. Rosenberg Matthew Hamilton increased its holdings in shares of PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock worth $26,000 after buying an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC increased its holdings in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock worth $30,000 after buying an additional 272 shares during the last quarter. Planning Capital Management Corp increased its holdings in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock worth $32,000 after buying an additional 268 shares during the last quarter. Finally, Legacy Investment Solutions LLC bought a new position in shares of PayPal in the 3rd quarter worth $36,000. Institutional investors own 68.32% of the company's stock.

Insider Activity

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the company'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 transaction of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares of the company's stock, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler decreased their price target on shares of PayPal from $85.00 to $76.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Morgan Stanley increased their target price on shares of PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Wednesday, February 26th. Bank of America raised shares of PayPal from a "neutral" rating to a "buy" rating and increased their target price for the company from $86.00 to $103.00 in a report on Monday, December 9th. DZ Bank raised shares of PayPal from a "hold" rating to a "buy" rating and set a $92.00 target price on the stock in a report on Friday, February 28th. Finally, Robert W. Baird reduced their target price on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $90.03.

PayPal Stock Up 3.0 %

PYPL opened at $69.50 on Thursday. 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 firm has a 50 day moving average price of $82.48 and a 200-day moving average price of $81.09. PayPal Holdings, Inc. has a twelve month low of $56.97 and a twelve month high of $93.66. The stock has a market capitalization of $68.75 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating 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 firm had revenue of $8.37 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The firm's quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current 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.

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