Viawealth LLC Cuts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Viawealth LLC cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,414 shares of the credit services provider’s stock after selling 812 shares during the quarter. Viawealth LLC’s holdings in PayPal were worth $718,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its stake in PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of PayPal in the third quarter valued at about $387,435,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of PayPal by 174.1% in the fourth 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 buying 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 about $135,537,000. Finally, Primecap Management Co. CA raised its holdings in PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after acquiring an additional 1,069,356 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction 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 sale, the director now directly 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Robert W. Baird cut their price target on PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Wells Fargo & Company reiterated an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price target on shares of PayPal in a research report on Thursday, December 12th. BTIG Research restated a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Fourteen research 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.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.03.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $70.00 on Thursday. The stock’s 50-day moving average is $78.82 and its two-hundred day moving average is $80.89. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market cap of $69.25 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66.

PayPal (NASDAQ:PYPL) last issued its 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. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the company earned $1.48 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. Analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal 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.