Vestcor Inc Sells 1,312 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Vestcor Inc lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,636 shares of the credit services provider’s stock after selling 1,312 shares during the quarter. Vestcor Inc’s holdings in PayPal were worth $1,505,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Relyea Zuckerberg Hanson LLC increased its position in PayPal by 113.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after acquiring an additional 3,976 shares during the period. World Investment Advisors LLC bought a new stake in PayPal in the 3rd quarter valued at $387,435,000. Equity Investment Corp increased its holdings in PayPal by 3.5% in the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after buying an additional 67,497 shares during the period. Fortem Financial Group LLC increased its holdings in PayPal by 28.0% in the 4th quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock valued at $2,842,000 after buying an additional 7,291 shares during the period. Finally, Franklin Resources Inc. increased its holdings in PayPal by 120.3% in the 3rd quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock valued at $125,461,000 after buying an additional 849,311 shares during the period. Institutional investors own 68.32% of the company’s stock.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This represents a 7.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

PayPal Stock Performance

PayPal stock opened at $68.95 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a 1 year low of $56.97 and a 1 year high of $93.66. The company has a market cap of $68.21 billion, a PE ratio of 17.19, a PEG ratio of 1.27 and a beta of 1.52. The company’s 50-day moving average is $79.96 and its two-hundred day moving average is $80.88.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 EPS. Equities analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

PYPL has been the topic of several analyst reports. Susquehanna boosted their price target on shares of PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods boosted their price target on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a report on Monday, December 9th. DZ Bank raised shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Friday, February 28th. Morgan Stanley boosted their price target on shares of PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Finally, Robert W. Baird lowered their target price on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. Fourteen analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $90.03.

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.