Tocqueville Asset Management L.P. Sells 35,096 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Tocqueville Asset Management L.P. cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 32.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,751 shares of the credit services provider’s stock after selling 35,096 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in PayPal were worth $6,124,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Rosenberg Matthew Hamilton lifted its stake in shares of PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 125 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in PayPal during the third 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 buying an additional 272 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of PayPal during the 4th quarter worth about $37,000. Finally, Legacy Investment Solutions LLC acquired a new position in shares of PayPal during the 3rd quarter valued at about $36,000. 68.32% of the stock is owned by institutional investors.

PayPal Price Performance

NASDAQ:PYPL opened at $68.88 on Wednesday. The firm has a market cap of $68.14 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The company’s 50-day moving average price is $79.18 and its two-hundred day moving average price is $80.97. 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 Holdings, Inc. has a 12 month low of $56.97 and a 12 month high of $93.66.

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 business had revenue of $8.37 billion for the quarter, compared to analyst estimates of $8.27 billion. During the same period in the prior year, the company earned $1.48 EPS. PayPal’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of 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 legal filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Susquehanna raised their target price on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a research note on Monday, January 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $100.00 target price on shares of PayPal in a report on Thursday, December 12th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday, February 26th. Finally, Barclays lifted their price objective on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Fourteen investment 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.03.

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.