Los Angeles Capital Management LLC Sells 747,028 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Los Angeles Capital Management LLC lowered its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 86.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,799 shares of the credit services provider’s stock after selling 747,028 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PayPal were worth $7,891,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PYPL. Morgan Stanley boosted its holdings in 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 purchasing an additional 873,181 shares in the last quarter. Norges Bank bought a new stake in PayPal during the fourth quarter worth about $749,561,000. Northern Trust Corp increased its holdings in shares of PayPal by 0.7% during the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock worth $687,902,000 after buying an additional 78,105 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of PayPal by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock worth $428,449,000 after acquiring an additional 265,116 shares in the last quarter. Finally, FMR LLC grew its position in PayPal by 29.5% during the 3rd quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after acquiring an additional 1,575,930 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Insider Transactions at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were 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 $861,620.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by insiders.

PayPal Trading Down 1.7 %

PYPL opened at $59.12 on Thursday. The stock has a market capitalization of $61.84 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.97 and a beta of 1.43. The company has a current ratio of 1.28, a quick 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. The firm’s fifty day simple moving average is $63.80 and its 200 day simple moving average is $62.42.

PayPal (NASDAQ:PYPL) last posted 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). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the company earned $0.86 earnings per share. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. As a group, research analysts anticipate that PayPal Holdings, Inc. will post 4.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Citigroup boosted their price objective on PayPal from $79.00 to $81.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Wells Fargo & Company raised their price objective 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. Mizuho upgraded shares of PayPal from a “neutral” rating to a “buy” rating and upped their target price for the stock from $68.00 to $90.00 in a research report on Thursday, May 30th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. Twenty investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, PayPal has a consensus rating of “Hold” and an average target price of $73.82.

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.