Sanibel Captiva Trust Company Inc. Cuts Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Sanibel Captiva Trust Company Inc. lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,307 shares of the credit services provider’s stock after selling 5,446 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in PayPal were worth $6,937,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted its holdings in PayPal by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider’s stock valued at $1,849,884,000 after purchasing an additional 271,836 shares in the last quarter. FMR LLC raised its position in shares of PayPal by 12.9% during the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock worth $1,615,134,000 after purchasing an additional 2,161,582 shares during the last quarter. Capital Research Global Investors lifted its stake in PayPal by 108.2% in the 4th quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock valued at $1,529,823,000 after buying an additional 9,313,783 shares in the last quarter. Norges Bank acquired a new stake in PayPal in the 4th quarter worth about $1,086,508,000. Finally, Northern Trust Corp raised its holdings in shares of PayPal by 19.0% during the fourth quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider’s stock valued at $892,953,000 after acquiring an additional 1,669,908 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Stock Up 0.2%

Shares of PYPL opened at $73.55 on Tuesday. The company’s 50-day simple moving average is $66.97 and its 200-day simple moving average is $76.04. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The stock has a market capitalization of $71.53 billion, a PE ratio of 18.34, a P/E/G ratio of 1.27 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.17. The company had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.08 EPS. Analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Activity at PayPal

In other PayPal news, EVP Diego Scotti sold 3,839 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the sale, the executive vice president now directly owns 16,989 shares in the company, valued at $1,244,274.36. This trade represents a 18.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Suzan Kereere sold 4,162 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $304,824.88. Following the transaction, the insider now directly owns 48,483 shares of the company’s stock, valued at approximately $3,550,894.92. This represents a 7.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,796 shares of company stock worth $863,028. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PYPL shares. Evercore ISI assumed coverage on PayPal in a research report on Wednesday, April 9th. They set an “in-line” rating and a $65.00 price target for the company. Royal Bank of Canada dropped their target price on shares of PayPal from $104.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Truist Financial initiated coverage on shares of PayPal in a research note on Monday, June 2nd. They issued a “sell” rating and a $68.00 price target on the stock. Wall Street Zen raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Thursday, May 1st. Finally, Wells Fargo & Company cut their price objective on shares of PayPal from $80.00 to $74.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.29.

PayPal 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.