Perpetual Ltd Cuts Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Perpetual Ltd cut its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 2.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 235,234 shares of the credit services provider’s stock after selling 6,467 shares during the period. Perpetual Ltd’s holdings in PayPal were worth $15,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sapient Capital LLC purchased a new position in PayPal in the 4th quarter worth approximately $806,000. Louisiana State Employees Retirement System bought a new position in shares of PayPal during the fourth quarter valued at $9,267,000. Bartlett & Co. LLC boosted its position in shares of PayPal by 8.5% during the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock valued at $594,000 after buying an additional 740 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in PayPal by 9.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 847,006 shares of the credit services provider’s stock worth $53,344,000 after buying an additional 73,687 shares in the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in PayPal by 4.9% in the 3rd quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock worth $1,183,000 after buying an additional 942 shares in the last quarter. Institutional investors own 68.32% of the company’s stock.

Insider Transactions at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 13,976 shares of the company’s stock, valued at $861,620.40. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.14% of the company’s stock.

PayPal Trading Up 1.2 %

Shares of PYPL opened at $59.80 on Friday. The firm has a market cap of $62.55 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 0.97 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.28 and a quick ratio of 1.28. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54. The company has a 50 day simple moving average of $63.68 and a two-hundred day simple moving average of $62.40.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PYPL. New Street Research began coverage on shares of PayPal in a report on Friday, May 31st. They set a “buy” rating and a $80.00 price target on the stock. Monness Crespi & Hardt lifted their target price on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, April 29th. Robert W. Baird increased their price target on PayPal from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, JMP Securities raised their target price on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 1st. Twenty equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, PayPal currently has an average rating of “Hold” and a consensus price target of $73.82.

About PayPal

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.