Clearbridge Investments LLC Reduces Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Clearbridge Investments LLC lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 3.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,340,162 shares of the credit services provider’s stock after selling 350,724 shares during the quarter. Clearbridge Investments LLC owned about 0.94% of PayPal worth $797,183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Gordian Capital Singapore Pte Ltd bought a new position in shares of PayPal in the third quarter worth approximately $26,000. Rosenberg Matthew Hamilton increased its holdings in shares of PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares during the last quarter. Sugarloaf Wealth Management LLC raised its position in shares of PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after buying an additional 272 shares in the last quarter. Legacy Investment Solutions LLC bought a new stake in shares of PayPal during the 3rd quarter worth $36,000. Finally, Modus Advisors LLC bought a new position in PayPal in the fourth quarter valued at $37,000. 68.32% of the stock is currently owned by institutional investors.

Insider Transactions at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.14% of the company’s stock.

PayPal Trading Down 5.4 %

PayPal stock opened at $65.15 on Friday. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66. The business’s fifty day moving average is $76.28 and its 200 day moving average is $80.82. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $64.45 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the business posted $1.48 earnings per share. The business’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PYPL shares. Keefe, Bruyette & Woods upped their price objective on PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company reiterated an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday, February 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Finally, Robert W. Baird cut their price target on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Sixteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

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.