Plato Investment Management Ltd Sells 2,939 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Plato Investment Management Ltd cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 27,779 shares of the credit services provider’s stock after selling 2,939 shares during the quarter. Plato Investment Management Ltd’s holdings in PayPal were worth $2,380,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Gordian Capital Singapore Pte Ltd bought a new position in shares of PayPal during the 3rd quarter valued at approximately $26,000. Rosenberg Matthew Hamilton grew its stake in shares of PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 125 shares during the period. Sugarloaf Wealth Management LLC grew its stake in shares of 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 acquiring an additional 272 shares during the period. Planning Capital Management Corp grew its stake in shares of PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 268 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in PayPal in the 3rd quarter worth approximately $36,000. 68.32% of the stock is currently owned by institutional investors.

PayPal Stock Performance

PYPL stock opened at $71.07 on Monday. 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 business’s fifty day simple moving average is $83.61 and its two-hundred day simple moving average is $81.16. PayPal Holdings, Inc. has a twelve month low of $56.97 and a twelve month high of $93.66. The firm has a market cap of $70.30 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.27 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (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 the consensus estimate of $8.27 billion. During the same quarter in the prior year, the company earned $1.48 EPS. The business’s revenue was up 4.2% compared to the same quarter last year. Analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on PYPL. Keefe, Bruyette & Woods upped their price target on PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. JPMorgan Chase & Co. restated an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target for the company in a research note on Friday, December 13th. Morgan Stanley upped their price target on PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Finally, StockNews.com upgraded PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and an average price target of $90.03.

Insider Activity at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction dated Thursday, February 27th. The stock was 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 in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

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.