PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm 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 filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PYPL. Park Place Capital Corp increased its holdings in PayPal by 6.6% in the fourth quarter. Park Place Capital Corp now owns 1,886 shares of the credit services provider’s stock valued at $161,000 after buying an additional 116 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock valued at $26,000 after buying an additional 125 shares in the last quarter. Wynn Capital LLC increased its holdings in PayPal by 1.1% in the fourth quarter. Wynn Capital LLC now owns 11,515 shares of the credit services provider’s stock valued at $983,000 after buying an additional 130 shares in the last quarter. Brave Asset Management Inc. increased its holdings in PayPal by 5.2% in the fourth quarter. Brave Asset Management Inc. now owns 2,828 shares of the credit services provider’s stock valued at $241,000 after buying an additional 141 shares in the last quarter. Finally, First United Bank & Trust increased its holdings in PayPal by 6.4% in the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock valued at $187,000 after buying an additional 145 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Price Performance

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

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, topping the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period in the prior year, the firm earned $1.48 EPS. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PYPL. BMO Capital Markets lifted their price objective on shares of PayPal from $73.00 to $82.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 target price on shares of PayPal in a research note on Thursday, December 12th. Macquarie boosted their target price on shares of PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday. The Goldman Sachs Group boosted their target price on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Susquehanna boosted their price target on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research report on Monday, January 6th. Thirteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock 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.