PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by First Financial Bankshares Inc

First Financial Bankshares Inc decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 21.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,067 shares of the credit services provider’s stock after selling 1,690 shares during the quarter. First Financial Bankshares Inc’s holdings in PayPal were worth $518,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC increased its position in shares of PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after buying an additional 7,767,072 shares in the last quarter. World Investment Advisors LLC acquired a new stake in PayPal in the 3rd quarter valued at $387,435,000. Robeco Institutional Asset Management B.V. increased its holdings in PayPal by 174.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after acquiring an additional 2,689,162 shares in the last quarter. Raymond James Financial Inc. acquired a new position in PayPal during the fourth quarter worth $135,537,000. Finally, Primecap Management Co. CA raised its position in PayPal by 21.6% during the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after acquiring an additional 1,069,356 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Activity at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PYPL. JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $86.00 to $103.00 in a report on Monday, December 9th. Wells Fargo & Company reissued an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Macquarie lifted their price target on PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of PayPal in a research note on Thursday, December 12th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Price Performance

PayPal stock opened at $68.88 on Wednesday. The company’s 50 day simple moving average is $79.18 and its 200-day simple moving average is $80.97. 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 $56.97 and a 1 year high of $93.66. The company has a market capitalization of $68.14 billion, a price-to-earnings ratio of 17.18, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last released 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 return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the firm earned $1.48 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

PayPal Company 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.