Newbridge Financial Services Group Inc. Sells 568 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Newbridge Financial Services Group Inc. reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,210 shares of the credit services provider’s stock after selling 568 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in PayPal were worth $259,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PYPL. Norges Bank purchased a new stake in shares of PayPal during the fourth quarter valued at $749,561,000. FMR LLC lifted its stake in PayPal by 29.5% during the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after acquiring an additional 1,575,930 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of PayPal by 125.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock valued at $105,882,000 after acquiring an additional 958,130 shares during the last quarter. Morgan Stanley grew its stake in shares of PayPal by 4.5% in the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after acquiring an additional 873,181 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of PayPal by 56.5% during the third quarter. Envestnet Asset Management Inc. now owns 2,395,312 shares of the credit services provider’s stock valued at $140,030,000 after purchasing an additional 864,684 shares during the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.

PayPal Price Performance

Shares of PYPL stock opened at $59.12 on Wednesday. The stock has a 50 day moving average price of $63.94 and a 200 day moving average price of $62.44. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $76.54. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $61.84 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.98 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). The company had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. As a group, sell-side analysts predict that PayPal Holdings, Inc. will post 4.14 earnings per share for the current year.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the transaction, the director now owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PYPL. Monness Crespi & Hardt raised their target price on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Sanford C. Bernstein upped their price target on PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a research report on Thursday, April 18th. TD Cowen boosted their price objective on PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Wells Fargo & Company increased their target price on shares of PayPal from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Finally, Evercore ISI lifted their price target on shares of PayPal from $60.00 to $65.00 and gave the company an “in-line” rating in a report on Wednesday, May 1st. Twenty research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $73.82.

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.