Harbor Investment Advisory LLC Has $901,000 Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Harbor Investment Advisory LLC cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 40.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,455 shares of the credit services provider’s stock after selling 9,055 shares during the period. Harbor Investment Advisory LLC’s holdings in PayPal were worth $901,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Morgan Stanley lifted its position in PayPal by 4.5% during the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after purchasing an additional 873,181 shares during the period. Norges Bank bought a new stake in PayPal during the fourth quarter worth about $749,561,000. Charles Schwab Investment Management Inc. lifted its position in PayPal by 4.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock worth $428,449,000 after purchasing an additional 265,116 shares during the period. Atreides Management LP lifted its position in PayPal by 9.3% during the third quarter. Atreides Management LP now owns 4,174,520 shares of the credit services provider’s stock worth $244,042,000 after purchasing an additional 355,411 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of PayPal by 1.7% in the fourth quarter. First Trust Advisors LP now owns 3,668,505 shares of the credit services provider’s stock worth $225,283,000 after acquiring an additional 61,384 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Stock Performance

NASDAQ PYPL opened at $59.49 on Tuesday. The company has a fifty day simple moving average of $63.52 and a 200 day simple moving average of $62.46. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a market cap of $62.23 billion, a P/E ratio of 14.98, a PEG ratio of 0.99 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a net margin of 14.26% and a return on equity of 21.58%. The business had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. During the same period in the previous year, the business posted $0.86 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts predict that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Tuesday, June 18th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. TD Cowen increased their target price on shares of PayPal from $58.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Monness Crespi & Hardt increased 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. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 target price on shares of PayPal in a report on Thursday, June 13th. Twenty-one equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal presently has an average rating of “Hold” and an average price target of $73.48.

Insider Buying and Selling at PayPal

In other news, Director Deborah M. Messemer sold 4,422 shares of PayPal 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 sale, the director now directly owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.14% of the company’s stock.

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.