Twin Capital Management Inc. Sells 2,305 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Twin Capital Management Inc. decreased its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,584 shares of the credit services provider’s stock after selling 2,305 shares during the quarter. Twin Capital Management Inc.’s holdings in PayPal were worth $1,982,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in PayPal during the 4th quarter worth approximately $749,561,000. The Manufacturers Life Insurance Company raised its position in PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in PayPal by 15.8% during the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock worth $445,103,000 after buying an additional 904,804 shares during the period. Boston Partners grew its position in shares of PayPal by 4,024.5% in the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after buying an additional 764,258 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its stake in shares of 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 buying an additional 743,833 shares during the period. Institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on PYPL shares. New Street Research began coverage on PayPal in a report on Friday, May 31st. They issued a “buy” rating and a $80.00 target price on the stock. Robert W. Baird upped their price objective on shares of PayPal from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. JMP Securities lifted their target price on shares of PayPal from $70.00 to $82.00 and gave the stock a “market outperform” 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. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $69.00 price target on shares of PayPal in a report on Monday, June 24th. Twenty-one research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, PayPal currently has an average rating of “Hold” and a consensus target price of $73.82.

Insider Activity

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

PayPal Price Performance

Shares of PYPL traded down $1.64 during mid-day trading on Wednesday, reaching $58.07. The stock had a trading volume of 11,788,455 shares, compared to its average volume of 14,390,892. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $76.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $60.74 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 0.99 and a beta of 1.42. The business has a fifty day moving average of $61.24 and a 200 day moving average of $62.20.

PayPal (NASDAQ:PYPL) last posted its 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). The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. Equities analysts predict that PayPal Holdings, Inc. will post 4.15 EPS for the current year.

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.