PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 88,631 shares of the credit services provider’s stock after selling 5,814 shares during the period. Elo Mutual Pension Insurance Co’s holdings in PayPal were worth $7,565,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. United Bank increased its holdings in shares of PayPal by 9.7% during the 3rd quarter. United Bank now owns 8,941 shares of the credit services provider’s stock worth $698,000 after buying an additional 794 shares during the last quarter. Townsquare Capital LLC grew its position in PayPal by 23.1% during the third quarter. Townsquare Capital LLC now owns 41,561 shares of the credit services provider’s stock valued at $3,243,000 after acquiring an additional 7,812 shares during the period. Freedom Investment Management Inc. purchased a new position in shares of PayPal in the 3rd quarter worth about $359,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of PayPal by 5.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 321,643 shares of the credit services provider’s stock valued at $25,098,000 after purchasing an additional 16,510 shares in the last quarter. Finally, CreativeOne Wealth LLC purchased a new stake in shares of PayPal during the 3rd quarter worth about $582,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PYPL. DZ Bank raised shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Friday, February 28th. Wells Fargo & Company reissued an “equal weight” rating on shares of PayPal in a research note on Wednesday, February 5th. BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Susquehanna boosted their price objective on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research note on Monday, January 6th. Finally, Macquarie increased their target price on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, February 10th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $90.03.

PayPal Price Performance

PYPL opened at $68.86 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company’s 50-day moving average price is $76.81 and its 200 day moving average price is $80.76. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66. The firm has a market cap of $68.12 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business 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. The business’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

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.