PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Essex LLC

Essex LLC lessened its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 28,309 shares of the credit services provider’s stock after selling 2,109 shares during the period. Essex LLC’s holdings in PayPal were worth $2,416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd bought a new stake in shares of PayPal in the third quarter worth $26,000. Rosenberg Matthew Hamilton grew its holdings in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 125 shares in the last quarter. Sugarloaf Wealth Management LLC increased its position in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. Planning Capital Management Corp raised its stake in shares of PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after purchasing an additional 268 shares in the last quarter. Finally, Financial Management Professionals Inc. lifted its position in shares of PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 243 shares during the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler boosted their price objective on PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Canaccord Genuity Group upped their price target on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley reduced their price objective on PayPal from $90.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Mizuho boosted their target price on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Finally, Stephens raised their price target on shares of PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Fourteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $89.43.

PayPal Price Performance

NASDAQ:PYPL opened at $77.31 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The business’s 50-day moving average price is $87.52 and its 200 day moving average price is $79.50. PayPal Holdings, Inc. has a 52-week low of $55.77 and a 52-week high of $93.66. The firm has a market cap of $76.48 billion, a P/E ratio of 19.28, a PEG ratio of 1.29 and a beta of 1.44.

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

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.