Cigna Investments Inc. New Lowers Stock Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Cigna Investments Inc. New trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,296 shares of the credit services provider’s stock after selling 275 shares during the period. Cigna Investments Inc. New’s holdings in PayPal were worth $878,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PYPL. Essex Financial Services Inc. increased its position in shares of PayPal by 7.7% during the fourth quarter. Essex Financial Services Inc. now owns 5,147 shares of the credit services provider’s stock valued at $439,000 after acquiring an additional 367 shares in the last quarter. Summit Trail Advisors LLC grew its position in shares of PayPal by 32.8% during the 4th quarter. Summit Trail Advisors LLC now owns 16,315 shares of the credit services provider’s stock valued at $1,392,000 after acquiring an additional 4,025 shares during the period. Equitable Trust Co. grew its position in shares of PayPal by 16.5% during the 4th quarter. Equitable Trust Co. now owns 15,637 shares of the credit services provider’s stock valued at $1,335,000 after acquiring an additional 2,217 shares during the period. Global Wealth Management Investment Advisory Inc. bought a new stake in shares of PayPal during the 4th quarter valued at $2,306,000. Finally, Bristlecone Advisors LLC lifted its stake in shares of PayPal by 17.4% during the 4th quarter. Bristlecone Advisors LLC now owns 50,124 shares of the credit services provider’s stock valued at $4,278,000 after buying an additional 7,420 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Performance

Shares of PYPL stock opened at $78.24 on Tuesday. The firm has a market cap of $77.40 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.29 and a beta of 1.44. PayPal Holdings, Inc. has a 52-week low of $56.97 and a 52-week high of $93.66. The company has a quick ratio of 1.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $87.52 and its 200 day moving average is $79.79.

PayPal (NASDAQ:PYPL) last announced 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. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. PayPal’s revenue was up 4.2% compared to the same quarter last year. During the same period last year, the firm earned $1.48 earnings per share. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company increased their price objective on shares of PayPal from $75.00 to $80.00 and gave the company an “equal weight” rating in a report on Thursday, January 16th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price objective on shares of PayPal in a report on Thursday, December 12th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Wednesday, February 5th. Piper Sandler increased their price objective on shares of PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Finally, Bank of America raised shares of PayPal from a “neutral” rating to a “buy” rating and increased their price target for the company from $86.00 to $103.00 in a report on Monday, December 9th. Thirteen 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. According to MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and an average target price of $90.52.

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.