PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Eastern Bank

Eastern Bank lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 27.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,907 shares of the credit services provider’s stock after selling 1,084 shares during the period. Eastern Bank’s holdings in PayPal were worth $248,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Marshall & Sullivan Inc. WA grew its holdings in PayPal by 9.4% in the fourth quarter. Marshall & Sullivan Inc. WA now owns 32,338 shares of the credit services provider’s stock valued at $2,760,000 after purchasing an additional 2,773 shares during the period. Claro Advisors LLC grew its holdings in PayPal by 4.4% in the fourth quarter. Claro Advisors LLC now owns 9,129 shares of the credit services provider’s stock valued at $779,000 after purchasing an additional 385 shares during the period. Forza Wealth Management LLC grew its holdings in PayPal by 7.0% in the fourth quarter. Forza Wealth Management LLC now owns 4,822 shares of the credit services provider’s stock valued at $412,000 after purchasing an additional 317 shares during the period. Cooper Financial Group grew its holdings in PayPal by 21.9% in the fourth quarter. Cooper Financial Group now owns 22,119 shares of the credit services provider’s stock valued at $1,888,000 after purchasing an additional 3,971 shares during the period. Finally, Wedmont Private Capital grew its stake in PayPal by 9.1% during the fourth quarter. Wedmont Private Capital now owns 5,972 shares of the credit services provider’s stock worth $498,000 after buying an additional 498 shares during the period. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Ratings Changes

PYPL has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of PayPal from $76.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Phillip Securities reiterated an “accumulate” rating and set a $90.00 price objective (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective for the company in a research note on Friday, December 13th. Barclays upped their target price on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Piper Sandler restated a “neutral” rating and issued a $88.00 target price on shares of PayPal in a research note on Friday, November 22nd. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.16.

PayPal Trading Up 3.8 %

PayPal stock opened at $87.18 on Wednesday. The company has a market cap of $87.40 billion, a P/E ratio of 20.81, a PEG ratio of 1.66 and a beta of 1.44. The firm’s 50-day moving average is $86.91 and its 200-day moving average is $76.31. PayPal Holdings, Inc. has a 1 year low of $55.77 and a 1 year high of $93.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $0.97 EPS. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.57 earnings per share for the current year.

PayPal 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.