Tocqueville Asset Management L.P. Has $6.12 Million Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Tocqueville Asset Management L.P. cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 32.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,751 shares of the credit services provider’s stock after selling 35,096 shares during the period. Tocqueville Asset Management L.P.’s holdings in PayPal were worth $6,124,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Nikko Asset Management Americas Inc. grew its holdings in PayPal by 2.7% during the 4th quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock worth $59,489,000 after acquiring an additional 18,172 shares during the period. Flagship Wealth Advisors LLC acquired a new stake in shares of PayPal during the fourth quarter worth $94,000. Parallel Advisors LLC grew its stake in shares of PayPal by 3.0% during the fourth quarter. Parallel Advisors LLC now owns 84,658 shares of the credit services provider’s stock worth $7,226,000 after purchasing an additional 2,436 shares during the period. SouthState Corp increased its holdings in PayPal by 13.0% in the fourth quarter. SouthState Corp now owns 61,843 shares of the credit services provider’s stock valued at $5,278,000 after purchasing an additional 7,093 shares during the last quarter. Finally, IMG Wealth Management Inc. acquired a new position in PayPal in the fourth quarter valued at about $80,000. Institutional investors own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research note on Wednesday, February 26th. Macquarie upped their target price on shares of PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods lifted their price target on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Robert W. Baird lowered their price objective on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research report on Wednesday, February 5th. Finally, DZ Bank upgraded PayPal from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a report on Friday, February 28th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $90.03.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

PayPal Price Performance

Shares of PYPL opened at $68.88 on Wednesday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The company’s fifty day simple moving average is $79.18 and its 200 day simple moving average is $80.97. PayPal Holdings, Inc. has a 1-year low of $56.97 and a 1-year high of $93.66. The company has a market cap of $68.14 billion, a price-to-earnings ratio of 17.18, a PEG ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last issued its 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. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the firm earned $1.48 EPS. PayPal’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.