NewEdge Wealth LLC Decreases Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

NewEdge Wealth LLC cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 21,508 shares of the credit services provider’s stock after selling 431 shares during the quarter. NewEdge Wealth LLC’s holdings in PayPal were worth $1,836,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Sabal Trust CO raised its holdings in shares of PayPal by 143.6% during the fourth quarter. Sabal Trust CO now owns 7,925 shares of the credit services provider’s stock valued at $676,000 after purchasing an additional 4,672 shares during the last quarter. National Pension Service raised its holdings in shares of PayPal by 18.2% during the fourth quarter. National Pension Service now owns 2,462,886 shares of the credit services provider’s stock valued at $210,207,000 after purchasing an additional 378,488 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of PayPal by 7.9% during the fourth quarter. Lake Street Advisors Group LLC now owns 12,636 shares of the credit services provider’s stock valued at $1,078,000 after purchasing an additional 925 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of PayPal during the fourth quarter valued at approximately $70,000. Finally, Synergy Financial Group LTD raised its holdings in shares of PayPal by 36.8% during the fourth quarter. Synergy Financial Group LTD now owns 6,916 shares of the credit services provider’s stock valued at $590,000 after purchasing an additional 1,861 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PYPL has been the subject of several research reports. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Wednesday. Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a research report on Wednesday, February 5th. Barclays boosted their target price on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Morgan Stanley boosted their target price on shares of PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PayPal has a consensus rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Price Performance

PYPL stock opened at $71.07 on Friday. PayPal Holdings, Inc. has a one year low of $56.97 and a one year high of $93.66. The company’s fifty day moving average price is $83.61 and its 200-day moving average price is $81.05. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $70.30 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.27 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $8.37 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 earnings per share. On average, equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Activity at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.