PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,094 shares of the credit services provider’s stock after selling 455 shares during the quarter. SteelPeak Wealth LLC’s holdings in PayPal were worth $341,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in PayPal during the fourth quarter worth approximately $25,000. American National Bank purchased a new position in shares of PayPal during the first quarter worth about $27,000. Private Wealth Management Group LLC acquired a new stake in shares of PayPal during the fourth quarter worth about $29,000. Register Financial Advisors LLC purchased a new stake in PayPal in the first quarter valued at approximately $30,000. Finally, Spartan Planning & Wealth Management grew its position in shares of 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 acquiring an additional 545 shares during the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Buying and Selling at PayPal

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the sale, the director now owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. The Goldman Sachs Group reiterated a “neutral” rating and issued a $69.00 price target on shares of PayPal in a research report on Monday, June 24th. JMP Securities boosted their target price on PayPal from $70.00 to $82.00 and gave the company a “market outperform” rating in a report on Wednesday, May 1st. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Tuesday, April 30th. Monness Crespi & Hardt lifted their price objective on shares of PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Finally, UBS Group upped their price objective 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. Twenty-one analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $73.64.

PayPal Stock Down 0.6 %

Shares of NASDAQ:PYPL opened at $58.03 on Monday. The company has a market capitalization of $60.70 billion, a P/E ratio of 14.62, a P/E/G ratio of 0.95 and a beta of 1.42. The stock’s fifty day simple moving average is $63.18 and its 200-day simple moving average is $62.43. PayPal Holdings, Inc. has a 52-week low of $50.25 and a 52-week high of $76.54. 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 (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) 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 analyst estimates of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. PayPal’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal 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.