MV Capital Management Inc. Reduces Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

MV Capital Management Inc. trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 89.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 661 shares of the credit services provider’s stock after selling 5,694 shares during the quarter. MV Capital Management Inc.’s holdings in PayPal were worth $44,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Farmers & Merchants Trust Co of Chambersburg PA acquired a new stake in PayPal in the 4th quarter valued at about $25,000. American National Bank purchased a new position in shares of PayPal during the 1st quarter worth approximately $27,000. Private Wealth Management Group LLC acquired a new position in shares of PayPal during the 4th quarter worth approximately $29,000. Register Financial Advisors LLC purchased a new stake in PayPal in the 1st quarter valued at approximately $30,000. Finally, Spartan Planning & Wealth Management grew its holdings in PayPal by 13,625.0% during the 4th quarter. Spartan Planning & Wealth Management now owns 549 shares of the credit services provider’s stock valued at $34,000 after buying an additional 545 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PYPL. Mizuho raised PayPal from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $68.00 to $90.00 in a report on Thursday, May 30th. Sanford C. Bernstein boosted their target price on shares of PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday, April 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $84.00 price target on shares of PayPal in a research note on Friday, June 28th. TD Cowen lifted their price target on shares of PayPal from $58.00 to $68.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Robert W. Baird upped their price objective on shares of PayPal from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Twenty investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $73.82.

Insider Buying and Selling

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

PayPal Trading Up 2.0 %

PYPL opened at $58.97 on Wednesday. The firm’s 50 day moving average is $63.07 and its 200-day moving average is $62.40. 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. The firm has a market capitalization of $61.69 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.95 and a beta of 1.42.

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 analysts’ expectations of $7.52 billion. PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period last year, the firm earned $0.86 EPS. Analysts expect that PayPal Holdings, Inc. will post 4.14 EPS 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.