Valeo Financial Advisors LLC Sells 8,233 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Valeo Financial Advisors LLC trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 16.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,268 shares of the credit services provider’s stock after selling 8,233 shares during the quarter. Valeo Financial Advisors LLC’s holdings in PayPal were worth $2,765,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Morgan Stanley increased its stake in shares of PayPal by 4.5% during the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after buying an additional 873,181 shares during the period. Norges Bank purchased a new position in PayPal in the fourth quarter valued at about $749,561,000. Charles Schwab Investment Management Inc. grew its stake in PayPal by 4.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after purchasing an additional 265,116 shares during the last quarter. First Trust Advisors LP grew its stake in 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 valued at $225,283,000 after purchasing an additional 61,384 shares during the last quarter. Finally, Hsbc Holdings PLC grew its stake in PayPal by 11.9% in the fourth quarter. Hsbc Holdings PLC now owns 2,891,840 shares of the credit services provider’s stock valued at $177,541,000 after purchasing an additional 306,613 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. JMP Securities lifted their target price on PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 1st. Sanford C. Bernstein boosted their price target on PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a research note on Thursday, April 18th. Robert W. Baird boosted their price target on PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Susquehanna upgraded PayPal from a “neutral” rating to a “positive” rating and set a $71.00 price target on the stock in a research note on Tuesday. Finally, Royal Bank of Canada restated an “outperform” rating and set a $84.00 price target on shares of PayPal in a research note on Friday, June 28th. Twenty equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $73.82.

PayPal Stock Up 1.1 %

Shares of NASDAQ:PYPL opened at $59.64 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $62.96 and a two-hundred day moving average of $62.39. The stock has a market cap of $62.39 billion, a P/E ratio of 15.02, a PEG ratio of 0.96 and a beta of 1.42. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $76.54.

PayPal (NASDAQ:PYPL) last announced 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). 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 last year, the company earned $0.86 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, research analysts expect that PayPal Holdings, Inc. will post 4.14 earnings per share for the current year.

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.