Jacobs & Co. CA Sells 6,266 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Jacobs & Co. CA cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,681 shares of the credit services provider’s stock after selling 6,266 shares during the quarter. Jacobs & Co. CA’s holdings in PayPal were worth $4,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Bartlett & Co. LLC increased its holdings in PayPal by 8.5% during the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock worth $594,000 after buying an additional 740 shares during the last quarter. Sunbelt Securities Inc. boosted its position in PayPal by 4.9% during the third quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock worth $1,183,000 after purchasing an additional 942 shares during the period. First Hawaiian Bank boosted its position in PayPal by 8.6% during the fourth quarter. First Hawaiian Bank now owns 6,936 shares of the credit services provider’s stock worth $426,000 after purchasing an additional 552 shares during the period. Litman Gregory Wealth Management LLC bought a new position in shares of PayPal in the third quarter valued at approximately $8,639,000. Finally, Hudson Bay Capital Management LP bought a new position in shares of PayPal in the third quarter valued at approximately $5,261,000. 68.32% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PYPL has been the subject of several research analyst reports. DZ Bank lowered shares of PayPal from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a research report on Friday, February 9th. Daiwa Capital Markets lowered shares of PayPal from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $64.00 to $62.00 in a research report on Tuesday, February 13th. Morgan Stanley reiterated an “equal weight” rating and set a $66.00 target price (down from $118.00) on shares of PayPal in a research report on Tuesday, January 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $74.00 target price on shares of PayPal in a research report on Thursday, March 21st. Finally, Susquehanna lifted their price target on shares of PayPal from $61.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, PayPal currently has a consensus rating of “Hold” and a consensus target price of $70.47.

Insider Activity

In other news, SVP Frank Keller sold 7,686 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the sale, the senior vice president now owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $66.57 on Thursday. PayPal Holdings, Inc. has a fifty-two week low of $50.25 and a fifty-two week high of $77.95. The business has a 50-day simple moving average of $61.32 and a two-hundred day simple moving average of $59.36. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market cap of $71.35 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The business had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the previous year, the firm earned $1.01 EPS. PayPal’s revenue was up 8.7% on a year-over-year basis. On average, analysts expect that PayPal Holdings, Inc. will post 3.95 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.