PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 17.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,755 shares of the credit services provider’s stock after selling 1,900 shares during the quarter. New England Research & Management Inc.’s holdings in PayPal were worth $586,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in PayPal in the fourth quarter valued at $749,561,000. The Manufacturers Life Insurance Company raised its position in PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after purchasing an additional 958,130 shares during the period. Morgan Stanley raised its position in PayPal by 4.5% in the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after purchasing an additional 873,181 shares during the period. Boston Partners raised its position in PayPal by 4,024.5% in the fourth quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after purchasing an additional 764,258 shares during the period. Finally, Panagora Asset Management Inc. raised its position in PayPal by 1,309.2% in the fourth quarter. Panagora Asset Management Inc. now owns 800,648 shares of the credit services provider’s stock valued at $49,168,000 after purchasing an additional 743,833 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Trading Down 0.6 %

PayPal stock opened at $58.03 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54. The firm has a market cap of $60.70 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 0.95 and a beta of 1.43. The firm’s 50 day moving average price is $63.18 and its two-hundred day moving average price is $62.40.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same quarter last year, the business earned $0.86 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, research analysts predict that PayPal Holdings, Inc. will post 4.14 EPS for the current fiscal year.

Insider Transactions at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PYPL. Wells Fargo & Company raised their price objective on PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Citigroup lifted their target price on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $84.00 target price on shares of PayPal in a research report on Friday. TD Cowen lifted their target price on PayPal from $58.00 to $68.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Finally, UBS Group lifted their price target on PayPal from $63.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Twenty-one investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $73.64.

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.