Cullen Investment Group LTD. Reduces Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cullen Investment Group LTD. lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,011 shares of the credit services provider’s stock after selling 545 shares during the quarter. Cullen Investment Group LTD.’s holdings in PayPal were worth $518,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Paralel Advisors LLC lifted its stake in PayPal by 2,009.5% in the third quarter. Paralel Advisors LLC now owns 525,213 shares of the credit services provider’s stock worth $30,704,000 after acquiring an additional 500,315 shares during the period. Kestra Advisory Services LLC lifted its stake in PayPal by 2.7% in the third quarter. Kestra Advisory Services LLC now owns 99,193 shares of the credit services provider’s stock worth $5,799,000 after acquiring an additional 2,597 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in PayPal in the third quarter worth $3,784,000. Envestnet Asset Management Inc. lifted its stake in PayPal by 56.5% in the third quarter. Envestnet Asset Management Inc. now owns 2,395,312 shares of the credit services provider’s stock worth $140,030,000 after acquiring an additional 864,684 shares during the period. Finally, FMR LLC lifted its stake in PayPal by 29.5% in the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after acquiring an additional 1,575,930 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Price Performance

NASDAQ:PYPL opened at $59.12 on Thursday. The stock has a market cap of $61.84 billion, a PE ratio of 14.89, a P/E/G ratio of 0.97 and a beta of 1.43. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $63.80 and its two-hundred day simple moving average is $62.42. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $76.54.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The business had revenue of $7.70 billion during the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. As a group, analysts forecast that PayPal Holdings, Inc. will post 4.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on PYPL. Evercore ISI increased their price objective on PayPal from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Wednesday, May 1st. JMP Securities raised their price target on PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a report on Wednesday, May 1st. Citigroup raised their price target on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday, June 10th. New Street Research began coverage on PayPal in a report on Friday, May 31st. They set a “buy” rating and a $80.00 price target for the company. Finally, Wells Fargo & Company raised their price target on PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Twenty analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, PayPal has an average rating of “Hold” and an average target price of $73.82.

Insider Transactions at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the transaction, the director now owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

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.