Pinnacle Associates Ltd. Reduces Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Pinnacle Associates Ltd. reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,046 shares of the credit services provider’s stock after selling 879 shares during the quarter. Pinnacle Associates Ltd.’s holdings in PayPal were worth $2,766,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PYPL. Sutton Wealth Advisors Inc. lifted its stake in shares of PayPal by 115.0% during the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock valued at $26,000 after buying an additional 237 shares in the last quarter. PCA Investment Advisory Services Inc. purchased a new stake in shares of PayPal during the 2nd quarter valued at approximately $27,000. Resurgent Financial Advisors LLC purchased a new stake in shares of PayPal during the 4th quarter valued at approximately $29,000. BluePath Capital Management LLC purchased a new stake in PayPal in the 3rd quarter worth approximately $33,000. Finally, Beacon Capital Management LLC lifted its stake in PayPal by 58.6% in the 4th quarter. Beacon Capital Management LLC now owns 609 shares of the credit services provider’s stock worth $36,000 after purchasing an additional 225 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the sale, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Argus cut shares of PayPal from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Mizuho lowered their target price on shares of PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th. UBS Group increased their target price on shares of PayPal from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Bank of America lowered shares of PayPal from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $77.00 to $66.00 in a report on Wednesday, December 6th. Finally, Wells Fargo & Company increased their price target on shares of PayPal from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Twenty-four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $70.47.

View Our Latest Stock Report on PayPal

PayPal Trading Up 0.6 %

Shares of PYPL opened at $66.99 on Monday. The stock has a market capitalization of $71.80 billion, a P/E ratio of 17.45, a PEG ratio of 1.51 and a beta of 1.45. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46. The firm has a fifty day simple moving average of $61.58 and a two-hundred day simple moving average of $59.48. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $77.95.

PayPal (NASDAQ:PYPLGet Free Report) last posted its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 EPS for the quarter, topping the consensus estimate of $1.36 by $0.12. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period last year, the company posted $1.01 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts anticipate that PayPal Holdings, Inc. will post 3.95 EPS for the current year.

PayPal Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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