PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lessened its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,487 shares of the credit services provider’s stock after selling 549 shares during the period. HBK Sorce Advisory LLC’s holdings in PayPal were worth $368,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pittenger & Anderson Inc. increased its stake in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in shares of PayPal during the fourth quarter worth approximately $25,000. American National Bank acquired a new stake in shares of PayPal in the first quarter valued at approximately $27,000. Register Financial Advisors LLC acquired a new stake in shares of PayPal in the first quarter valued at approximately $30,000. Finally, CarsonAllaria Wealth Management Ltd. grew its holdings in PayPal by 65.8% during the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Trading Down 1.1 %

Shares of PayPal stock traded down $0.67 during trading hours on Friday, reaching $59.33. The stock had a trading volume of 9,336,156 shares, compared to its average volume of 14,508,417. The firm has a market capitalization of $62.06 billion, a price-to-earnings ratio of 15.00, a P/E/G ratio of 1.00 and a beta of 1.42. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54. The firm has a 50 day simple moving average of $61.59 and a two-hundred day simple moving average of $62.20.

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

Analyst Ratings Changes

PYPL has been the topic of several recent research reports. Mizuho upgraded shares of PayPal from a “neutral” rating to a “buy” rating and lifted their price target for the company from $68.00 to $90.00 in a research note on Thursday, May 30th. TD Cowen increased their price objective on shares of PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. BMO Capital Markets upped their price target on shares of PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a research report on Wednesday, May 1st. JMP Securities increased their price objective on shares of PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 1st. Finally, Stephens increased their price objective on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report 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 MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $73.82.

Insider Buying and Selling at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the business’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 transaction, the director now owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

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.