Axxcess Wealth Management LLC Sells 4,109 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Axxcess Wealth Management LLC lessened its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 29.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,673 shares of the credit services provider’s stock after selling 4,109 shares during the quarter. Axxcess Wealth Management LLC’s holdings in PayPal were worth $826,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PYPL. FMR LLC grew its holdings in shares of PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the last quarter. World Investment Advisors LLC bought a new position in PayPal in the 3rd quarter worth about $387,435,000. Robeco Institutional Asset Management B.V. increased its position in shares of PayPal by 174.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 4,233,341 shares of the credit services provider’s stock worth $361,316,000 after acquiring an additional 2,689,162 shares during the period. Raymond James Financial Inc. bought a new stake in shares of PayPal during the fourth quarter valued at approximately $135,537,000. Finally, Primecap Management Co. CA boosted its holdings in shares of PayPal by 21.6% in the third quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after purchasing an additional 1,069,356 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

PYPL has been the topic of several research reports. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $86.00 to $103.00 in a report on Monday, December 9th. JPMorgan Chase & Co. restated an “overweight” rating on shares of PayPal in a report on Tuesday, February 4th. Piper Sandler lowered their price objective on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Barclays raised their target price on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $90.03.

PayPal Stock Performance

Shares of NASDAQ PYPL opened at $69.67 on Friday. The company has a 50 day simple moving average of $78.46 and a two-hundred day simple moving average of $80.81. The stock has a market cap of $68.92 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 1.27 and a beta of 1.52. 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 12 month low of $56.97 and a 12 month high of $93.66.

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

Insider Buying and Selling

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.14% of the stock is owned by corporate 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.