Norway Savings Bank Reduces Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

Norway Savings Bank trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,844 shares of the credit services provider’s stock after selling 1,465 shares during the period. Norway Savings Bank’s holdings in PayPal were worth $793,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PYPL. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in PayPal in the 4th quarter worth about $25,000. American National Bank bought a new position in shares of PayPal in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC bought a new stake in PayPal during the 4th quarter worth approximately $29,000. Register Financial Advisors LLC bought a new stake in PayPal during the 1st quarter worth approximately $30,000. Finally, Spartan Planning & Wealth Management increased its holdings in PayPal by 13,625.0% during the 4th quarter. Spartan Planning & Wealth Management now owns 549 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 545 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PYPL shares. Wells Fargo & Company boosted their price target on shares of PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. New Street Research initiated coverage on PayPal in a report on Friday, May 31st. They issued a “buy” rating and a $80.00 price target on the stock. BMO Capital Markets raised their price target on PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a report on Wednesday, May 1st. TD Cowen boosted their price objective on PayPal from $58.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $69.00 target price on shares of PayPal in a research report on Monday, June 24th. Twenty-one investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.64.

PayPal Stock Performance

Shares of PYPL stock opened at $58.03 on Friday. The company has a market capitalization of $60.70 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 0.95 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. PayPal Holdings, Inc. has a one year low of $50.25 and a one year high of $76.54. The company’s 50-day moving average is $63.18 and its 200 day moving average is $62.40.

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 analysts’ consensus estimates of $1.22 by ($0.14). The firm 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 company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. Sell-side analysts expect that PayPal Holdings, Inc. will post 4.14 EPS for the current fiscal year.

Insider Activity

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the transaction, the director now owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.