SeaCrest Wealth Management LLC Sells 2,673 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

SeaCrest Wealth Management LLC decreased its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 19.5% during the first quarter, HoldingsChannel reports. The firm owned 11,008 shares of the credit services provider’s stock after selling 2,673 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in PayPal were worth $737,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of PYPL. Schonfeld Strategic Advisors LLC increased its position in PayPal by 1,234.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 124,468 shares of the credit services provider’s stock worth $7,276,000 after acquiring an additional 115,144 shares during the period. Lazard Asset Management LLC increased its position in PayPal by 374.6% during the third quarter. Lazard Asset Management LLC now owns 250,252 shares of the credit services provider’s stock worth $14,629,000 after acquiring an additional 197,528 shares during the period. Axxcess Wealth Management LLC increased its position in PayPal by 232.1% during the third quarter. Axxcess Wealth Management LLC now owns 15,263 shares of the credit services provider’s stock worth $892,000 after acquiring an additional 10,667 shares during the period. Adage Capital Partners GP L.L.C. increased its position in PayPal by 23.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,091,775 shares of the credit services provider’s stock worth $63,825,000 after acquiring an additional 205,100 shares during the period. Finally, Eubel Brady & Suttman Asset Management Inc. increased its position in PayPal by 25.6% during the third quarter. Eubel Brady & Suttman Asset Management Inc. now owns 320,873 shares of the credit services provider’s stock worth $18,758,000 after acquiring an additional 65,413 shares during the period. Institutional investors own 68.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PYPL. UBS Group boosted their target price on shares of PayPal from $63.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Citigroup boosted their price target on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday, June 10th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $78.00 price target on shares of PayPal in a report on Thursday, June 13th. Robert W. Baird boosted their price target on shares of PayPal from $70.00 to $77.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, 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 report on Wednesday, May 1st. Twenty analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $73.82.

Insiders Place Their Bets

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 transaction of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

PayPal Stock Up 1.1 %

Shares of NASDAQ PYPL opened at $59.64 on Thursday. The firm’s 50-day simple moving average is $62.96 and its 200 day simple moving average is $62.39. The company has a market cap of $62.39 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.42. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. PayPal Holdings, Inc. has a 12-month low of $50.25 and a 12-month high of $76.54.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data 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 firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 earnings per share. On average, research analysts expect that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal year.

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.