AGF Management Ltd. Reduces Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

AGF Management Ltd. cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 59.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,603 shares of the credit services provider’s stock after selling 9,783 shares during the quarter. AGF Management Ltd.’s holdings in PayPal were worth $564,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal during the 3rd quarter worth approximately $26,000. Rosenberg Matthew Hamilton increased 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 worth $26,000 after purchasing an additional 125 shares in the last quarter. Sugarloaf Wealth Management LLC increased 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 worth $30,000 after purchasing an additional 272 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in shares of PayPal during the 3rd quarter worth approximately $36,000. Finally, Modus Advisors LLC purchased a new stake in PayPal in the 4th quarter worth approximately $37,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Price Performance

PYPL opened at $68.95 on Friday. The company has a 50-day moving average of $79.96 and a 200-day moving average of $80.94. The company has a market capitalization of $68.21 billion, a P/E ratio of 17.19, a PEG ratio of 1.27 and a beta of 1.52. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26.

PayPal (NASDAQ:PYPL) last released 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. 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%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.48 EPS. Equities analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the subject of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research note on Tuesday, February 4th. DZ Bank raised shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Friday, February 28th. Susquehanna lifted their target price on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research note on Monday, January 6th. Finally, StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, December 24th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PayPal has an average rating of “Moderate Buy” and an average target price of $90.03.

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.