Ninepoint Partners LP Sells 1,000 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Ninepoint Partners LP reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,736 shares of the credit services provider’s stock after selling 1,000 shares during the quarter. Ninepoint Partners LP’s holdings in PayPal were worth $1,028,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in PayPal by 12.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,246,996 shares of the credit services provider’s stock worth $144,215,000 after acquiring an additional 138,875 shares during the period. Dakota Wealth Management raised its stake in PayPal by 8.6% during the 1st quarter. Dakota Wealth Management now owns 4,894 shares of the credit services provider’s stock worth $566,000 after acquiring an additional 387 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in PayPal by 15.4% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,860 shares of the credit services provider’s stock worth $793,000 after acquiring an additional 918 shares during the period. Covestor Ltd raised its stake in PayPal by 136.1% during the 1st quarter. Covestor Ltd now owns 1,334 shares of the credit services provider’s stock worth $154,000 after acquiring an additional 769 shares during the period. Finally, Donaldson Capital Management LLC raised its position in shares of PayPal by 5.3% during the first quarter. Donaldson Capital Management LLC now owns 3,095 shares of the credit services provider’s stock valued at $358,000 after buying an additional 155 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on PYPL. Wells Fargo & Company lifted their price objective on shares of PayPal from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Evercore ISI lifted their price objective on shares of PayPal from $56.00 to $60.00 and gave the company an “in-line” rating in a research report on Tuesday, March 26th. BMO Capital Markets reduced their price objective on shares of PayPal from $65.00 to $60.00 and set a “market perform” rating on the stock in a research report on Thursday, February 8th. Stephens restated an “equal weight” rating and issued a $70.00 price target on shares of PayPal in a research report on Thursday, February 8th. Finally, Wedbush restated an “outperform” rating and issued a $85.00 price target on shares of PayPal in a research report on Thursday, February 8th. Twenty-three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $70.47.

PayPal Stock Up 0.1 %

NASDAQ:PYPL traded up $0.08 during mid-day trading on Friday, reaching $62.18. The company’s stock had a trading volume of 6,470,992 shares, compared to its average volume of 16,487,025. PayPal Holdings, Inc. has a 1 year low of $50.25 and a 1 year high of $76.54. The stock has a fifty day moving average of $62.27 and a 200-day moving average of $59.90. The firm has a market capitalization of $65.45 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 1.44 and a beta of 1.45. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.46.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data 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 net margin of 14.26% and a return on equity of 20.84%. The company had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.88 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts forecast that PayPal Holdings, Inc. will post 3.93 earnings per share for the current year.

Insider Buying and Selling

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

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.