PayPal Holdings, Inc. (NASDAQ:PYPL) Stake Trimmed by Sciencast Management LP

Sciencast Management LP cut its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 32.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,141 shares of the credit services provider’s stock after selling 11,503 shares during the quarter. Sciencast Management LP’s holdings in PayPal were worth $2,060,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PYPL. Rosenberg Matthew Hamilton raised its position in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after buying an additional 125 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in shares of PayPal in the 3rd quarter valued at about $26,000. Sugarloaf Wealth Management LLC lifted its position in shares of PayPal by 344.3% in the fourth 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 in the last quarter. Modus Advisors LLC acquired a new stake in shares of PayPal during the fourth quarter worth approximately $37,000. Finally, Legacy Investment Solutions LLC acquired a new position in PayPal in the 3rd quarter valued at approximately $36,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Performance

Shares of PayPal stock opened at $70.19 on Friday. The stock has a market cap of $69.43 billion, a price-to-earnings ratio of 17.50, a P/E/G ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a twelve month low of $56.97 and a twelve month high of $93.66. The company’s fifty day moving average is $78.19 and its 200 day moving average is $80.80. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on PYPL shares. Morgan Stanley lifted their price objective on PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 26th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Barclays increased their price target on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. DZ Bank raised shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Friday, February 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Fourteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

Insiders Place Their Bets

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the transaction, the director now directly owns 29,734 shares of the company’s stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

About 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.