Atria Wealth Solutions Inc. Sells 3,364 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Atria Wealth Solutions Inc. decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 42,950 shares of the credit services provider’s stock after selling 3,364 shares during the period. Atria Wealth Solutions Inc.’s holdings in PayPal were worth $2,638,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PYPL. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of PayPal during the fourth quarter valued at approximately $25,000. Sutton Wealth Advisors Inc. grew its stake in shares of PayPal by 115.0% during the third 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 during the last quarter. BluePath Capital Management LLC bought a new position in shares of PayPal during the third quarter valued at approximately $33,000. Beacon Capital Management LLC grew its stake in shares of PayPal by 58.6% during the fourth quarter. Beacon Capital Management LLC now owns 609 shares of the credit services provider’s stock valued at $36,000 after buying an additional 225 shares during the last quarter. Finally, Criterion Capital Advisors LLC bought a new position in shares of PayPal during the fourth quarter valued at approximately $37,000. Institutional investors own 68.32% of the company’s stock.

PayPal Trading Up 2.9 %

Shares of PayPal stock opened at $65.96 on Monday. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $76.54. 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 company’s 50-day simple moving average is $62.87 and its 200-day simple moving average is $60.19. The firm has a market cap of $69.43 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.23 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period in the previous year, the business posted $1.01 earnings per share. The business’s revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.02 earnings per share for the current year.

Insider Transactions at PayPal

In other news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the transaction, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the topic of several research analyst reports. Daiwa Capital Markets cut PayPal from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $64.00 to $62.00 in a research note on Tuesday, February 13th. Morgan Stanley reissued an “equal weight” rating and issued a $66.00 price objective (down previously from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. Argus cut PayPal from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. William Blair reissued an “outperform” rating on shares of PayPal in a research note on Thursday, February 8th. Finally, BTIG Research restated a “neutral” rating on shares of PayPal in a report on Friday, January 5th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.47.

About PayPal

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.