PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPLGet Rating) by 81.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,877 shares of the credit services provider’s stock after selling 8,216 shares during the quarter. Griffin Asset Management Inc.’s holdings in PayPal were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of PYPL. Norges Bank acquired a new position in shares of PayPal in the fourth quarter worth about $1,873,879,000. Bank of Montreal Can increased its holdings in PayPal by 123.0% during the 4th quarter. Bank of Montreal Can now owns 8,051,183 shares of the credit services provider’s stock worth $2,334,845,000 after purchasing an additional 4,440,194 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of PayPal by 20.6% in the 4th quarter. Fisher Asset Management LLC now owns 14,468,988 shares of the credit services provider’s stock valued at $2,728,562,000 after purchasing an additional 2,476,199 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in shares of PayPal by 66,379.2% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,382,103 shares of the credit services provider’s stock valued at $260,637,000 after buying an additional 1,380,024 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of PayPal during the fourth quarter worth approximately $253,727,000. Hedge funds and other institutional investors own 75.90% of the company’s stock.

PayPal stock opened at $73.81 on Friday. PayPal Holdings, Inc. has a 12 month low of $70.47 and a 12 month high of $310.16. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.40. The stock has a market cap of $85.47 billion, a P/E ratio of 24.36, a P/E/G ratio of 1.55 and a beta of 1.40. The company’s fifty day simple moving average is $83.08 and its 200-day simple moving average is $121.75.

PayPal (NASDAQ:PYPLGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The credit services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). The firm had revenue of $6.48 billion during the quarter, compared to the consensus estimate of $6.41 billion. PayPal had a net margin of 13.87% and a return on equity of 17.90%. During the same period in the previous year, the firm posted $0.91 EPS. On average, equities research analysts expect that PayPal Holdings, Inc. will post 2.69 earnings per share for the current fiscal year.

In other news, EVP Peggy Alford sold 14,767 shares of the firm’s stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $85.32, for a total value of $1,259,920.44. Following the sale, the executive vice president now directly owns 39,891 shares of the company’s stock, valued at $3,403,500.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Enrique Lores acquired 1,100 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were acquired at an average cost of $88.13 per share, with a total value of $96,943.00. Following the transaction, the director now directly owns 5,235 shares in the company, valued at approximately $461,360.55. The disclosure for this purchase can be found here. 0.13% of the stock is currently owned by insiders.

PYPL has been the topic of a number of research analyst reports. Truist Financial reduced their target price on PayPal from $115.00 to $85.00 in a report on Thursday, April 28th. Bank of America cut PayPal from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $175.00 to $107.00 in a research note on Wednesday, March 9th. StockNews.com lowered shares of PayPal from a “hold” rating to a “sell” rating in a research note on Saturday, June 4th. Royal Bank of Canada reduced their price target on shares of PayPal from $180.00 to $118.00 and set an “outperform” rating on the stock in a research report on Friday, April 22nd. Finally, Cowen lowered their price objective on shares of PayPal from $174.00 to $104.00 in a research report on Thursday, April 28th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal presently has an average rating of “Moderate Buy” and an average price target of $153.71.

PayPal Company Profile (Get Rating)

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company's payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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