PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,140 shares of the credit services provider’s stock after selling 1,834 shares during the period. New York Life Investment Management LLC’s holdings in PayPal were worth $10,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System purchased a new stake in shares of PayPal during the fourth quarter valued at $9,267,000. Bartlett & Co. LLC increased its holdings in shares of PayPal by 8.5% in the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock valued at $594,000 after purchasing an additional 740 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of PayPal by 9.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock worth $53,344,000 after purchasing an additional 73,687 shares during the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of PayPal by 4.9% during the third quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock worth $1,183,000 after purchasing an additional 942 shares during the period. Finally, Bellecapital International Ltd. boosted its position in PayPal by 2.0% in the fourth quarter. Bellecapital International Ltd. now owns 21,685 shares of the credit services provider’s stock valued at $1,332,000 after buying an additional 433 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Performance

PYPL opened at $66.51 on Thursday. The firm has a market capitalization of $70.01 billion, a PE ratio of 16.66, a PEG ratio of 1.26 and a beta of 1.41. The firm’s 50-day moving average price is $63.39 and its 200 day moving average price is $60.39. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $76.54. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $7.52 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 4.02 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on PYPL shares. Royal Bank of Canada raised their price target on shares of PayPal from $74.00 to $84.00 and gave the stock an “outperform” rating in a research report on Wednesday. JMP Securities upped their price target on shares of PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a report on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and set a $66.00 price target (down from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. Monness Crespi & Hardt upped their target price on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday. Finally, BTIG Research reiterated a “neutral” rating on shares of PayPal in a research report on Friday, January 5th. Twenty-five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.73.

Insider Activity at PayPal

In other PayPal news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the completion of the transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by insiders.

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.