US Bancorp DE decreased its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 253,689 shares of the credit services provider's stock after selling 14,754 shares during the period. US Bancorp DE's holdings in PayPal were worth $21,652,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fisher Asset Management LLC lifted its position in PayPal by 14.5% during the fourth quarter. Fisher Asset Management LLC now owns 13,217 shares of the credit services provider's stock valued at $1,128,000 after purchasing an additional 1,676 shares during the period. Sage Investment Counsel LLC bought a new position in PayPal during the fourth quarter valued at approximately $248,000. SVB Wealth LLC bought a new position in PayPal during the fourth quarter valued at approximately $1,195,000. Parkside Financial Bank & Trust lifted its position in PayPal by 5.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,430 shares of the credit services provider's stock valued at $293,000 after purchasing an additional 179 shares during the period. Finally, Verus Capital Partners LLC lifted its position in PayPal by 20.9% during the fourth quarter. Verus Capital Partners LLC now owns 25,787 shares of the credit services provider's stock valued at $2,201,000 after purchasing an additional 4,453 shares during the period. Institutional investors own 68.32% of the company's stock.
In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by company insiders.
PYPL opened at $71.07 on Monday. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The company has a fifty day moving average of $83.61 and a 200 day moving average of $81.16. The stock has a market capitalization of $70.30 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.27 and a beta of 1.44.
PayPal (NASDAQ:PYPL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating 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 business had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same quarter last year, the business earned $1.48 earnings per share. PayPal's quarterly revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on PYPL. Piper Sandler lowered their price objective on shares of PayPal from $85.00 to $76.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Wolfe Research raised shares of PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 target price for the company in a report on Friday, December 13th. Susquehanna upped their target price on shares of PayPal from $94.00 to $101.00 and gave the company a "positive" rating in a report on Monday, January 6th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of PayPal in a report on Wednesday, February 5th. Finally, Bank of America raised shares of PayPal from a "neutral" rating to a "buy" rating and upped their target price for the company from $86.00 to $103.00 in a report on Monday, December 9th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, PayPal has an average rating of "Moderate Buy" and a consensus target price of $90.03.
Check Out Our Latest Stock Report on 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.
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