PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Riverstone Advisors LLC

Riverstone Advisors LLC lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 26.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,330 shares of the credit services provider’s stock after selling 7,640 shares during the quarter. PayPal comprises about 0.8% of Riverstone Advisors LLC’s portfolio, making the stock its 22nd biggest holding. Riverstone Advisors LLC’s holdings in PayPal were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the stock. Octavia Wealth Advisors LLC lifted its position in PayPal by 7.4% in the fourth quarter. Octavia Wealth Advisors LLC now owns 3,807 shares of the credit services provider’s stock valued at $234,000 after buying an additional 261 shares during the last quarter. SVB Wealth LLC lifted its position in PayPal by 15.2% in the fourth quarter. SVB Wealth LLC now owns 13,985 shares of the credit services provider’s stock valued at $859,000 after buying an additional 1,846 shares during the last quarter. LifePlan Financial LLC acquired a new position in PayPal in the fourth quarter valued at about $1,266,000. VELA Investment Management LLC lifted its position in PayPal by 27.1% in the fourth quarter. VELA Investment Management LLC now owns 11,755 shares of the credit services provider’s stock valued at $722,000 after buying an additional 2,508 shares during the last quarter. Finally, Mackenzie Financial Corp increased its stake in PayPal by 136.1% during the fourth quarter. Mackenzie Financial Corp now owns 285,579 shares of the credit services provider’s stock worth $17,537,000 after purchasing an additional 164,608 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PYPL. JMP Securities reiterated a “market outperform” rating and set a $68.00 price target on shares of PayPal in a research note on Thursday, February 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $74.00 price target on shares of PayPal in a research note on Thursday, March 21st. Morgan Stanley reiterated an “equal weight” rating and set a $66.00 price target (down from $118.00) on shares of PayPal in a research note on Tuesday, January 9th. BTIG Research reiterated a “neutral” rating on shares of PayPal in a research note on Friday, January 5th. Finally, Monness Crespi & Hardt cut their price target on shares of PayPal from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Twenty-three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, PayPal presently has an average rating of “Hold” and a consensus price target of $70.47.

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the transaction, the senior vice president now 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 link. Company insiders own 0.13% of the company’s stock.

PayPal Price Performance

NASDAQ:PYPL traded up $0.19 during trading hours on Tuesday, hitting $63.70. The company’s stock had a trading volume of 6,446,028 shares, compared to its average volume of 16,789,701. The business’s 50-day moving average is $62.16 and its two-hundred day moving average is $59.83. The company has a market capitalization of $67.05 billion, a PE ratio of 16.57, a PEG ratio of 1.47 and a beta of 1.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $77.95.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.12. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The firm had revenue of $8.03 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter in the prior year, the business posted $1.01 earnings per share. PayPal’s revenue was up 8.7% compared to the same quarter last year. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 3.93 EPS for the current fiscal 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.