Alliancebernstein L.P. Sells 797,075 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Alliancebernstein L.P. lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 36.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,386,571 shares of the credit services provider’s stock after selling 797,075 shares during the period. Alliancebernstein L.P. owned approximately 0.14% of PayPal worth $118,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Rosenberg Matthew Hamilton increased its stake in PayPal by 67.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares during the period. Gordian Capital Singapore Pte Ltd bought a new position in PayPal in the third quarter worth approximately $26,000. Sugarloaf Wealth Management LLC raised its position in PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. Modus Advisors LLC purchased a new stake in shares of PayPal in the 4th quarter worth $37,000. Finally, Crowley Wealth Management Inc. bought a new position in shares of PayPal during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird lowered their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a report on Wednesday, February 5th. Arete Research lowered shares of PayPal from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 27th. 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 note on Wednesday, February 26th. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and upped their target price for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Sixteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.40.

PayPal Stock Up 1.6 %

Shares of PYPL opened at $67.15 on Thursday. The stock has a fifty day simple moving average of $74.82 and a two-hundred day simple moving average of $80.74. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $66.43 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66.

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

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were 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 of the company’s stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

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.