Clarity Wealth Advisors LLC Reduces Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Clarity Wealth Advisors LLC lowered its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,754 shares of the credit services provider’s stock after selling 575 shares during the period. Clarity Wealth Advisors LLC’s holdings in PayPal were worth $519,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Paralel Advisors LLC boosted its position in shares of PayPal by 2,009.5% during the third quarter. Paralel Advisors LLC now owns 525,213 shares of the credit services provider’s stock valued at $30,704,000 after buying an additional 500,315 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of PayPal by 58.4% during the third quarter. O Shaughnessy Asset Management LLC now owns 34,365 shares of the credit services provider’s stock valued at $2,009,000 after buying an additional 12,667 shares during the period. Cape Cod Five Cents Savings Bank purchased a new position in shares of PayPal during the third quarter valued at approximately $246,000. CWA Asset Management Group LLC boosted its position in shares of PayPal by 17.4% during the third quarter. CWA Asset Management Group LLC now owns 5,508 shares of the credit services provider’s stock valued at $322,000 after buying an additional 817 shares during the period. Finally, Ironwood Investment Counsel LLC purchased a new position in shares of PayPal during the third quarter valued at approximately $270,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Activity

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now directly owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

PayPal Stock Performance

Shares of PYPL traded down $0.34 during trading hours on Friday, reaching $58.03. 28,102,011 shares of the company traded hands, compared to its average volume of 12,149,450. The stock has a market capitalization of $60.70 billion, a P/E ratio of 14.62, a P/E/G ratio of 0.95 and a beta of 1.43. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54. The business has a fifty day moving average price of $63.18 and a 200-day moving average price of $62.43.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. PayPal’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. Equities analysts anticipate that PayPal Holdings, Inc. will post 4.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on PYPL. Royal Bank of Canada restated an “outperform” rating and set a $84.00 target price on shares of PayPal in a research report on Friday. Stephens lifted their price target on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. BMO Capital Markets lifted their price target on shares of PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Citigroup lifted their price target on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, Sanford C. Bernstein lifted their price target on shares of PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Twenty-one research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $73.64.

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.