First Affirmative Financial Network Trims Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

First Affirmative Financial Network lessened its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 34.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,943 shares of the credit services provider’s stock after selling 2,027 shares during the period. First Affirmative Financial Network’s holdings in PayPal were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of PayPal during the fourth quarter worth about $25,000. American National Bank purchased a new stake in PayPal during the first quarter worth approximately $27,000. Private Wealth Management Group LLC purchased a new stake in PayPal during the fourth quarter worth approximately $29,000. Spartan Planning & Wealth Management lifted its stake in PayPal by 13,625.0% during the fourth quarter. Spartan Planning & Wealth Management now owns 549 shares of the credit services provider’s stock worth $34,000 after purchasing an additional 545 shares during the last quarter. Finally, Beacon Capital Management LLC lifted its stake in PayPal by 58.6% during the fourth quarter. Beacon Capital Management LLC now owns 609 shares of the credit services provider’s stock worth $36,000 after purchasing an additional 225 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PYPL shares. Mizuho upgraded PayPal from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $90.00 in a research note on Thursday, May 30th. JMP Securities upped their price objective on PayPal from $70.00 to $82.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 1st. Stephens upped their target price on PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Robert W. Baird increased their target price on PayPal from $70.00 to $77.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Sanford C. Bernstein raised their price objective on PayPal from $66.00 to $68.00 and gave the stock a “market perform” rating in a report on Thursday, April 18th. Twenty investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal has an average rating of “Hold” and an average target price of $73.82.

Insider Activity

In other news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction that occurred 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 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 can be accessed through this link. Company insiders own 0.14% of the company’s stock.

PayPal Price Performance

PYPL stock opened at $60.61 on Friday. PayPal Holdings, Inc. has a 12 month low of $50.25 and a 12 month high of $76.54. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $63.60 and a 200 day moving average price of $62.44. The stock has a market cap of $63.40 billion, a PE ratio of 15.27, a P/E/G ratio of 0.98 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last released 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). 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 analysts’ expectations of $7.52 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. PayPal’s revenue for the quarter was up 9.4% on a year-over-year basis. Equities research analysts anticipate 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.