Trek Financial LLC Sells 30,529 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Trek Financial LLC reduced its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 26.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,055 shares of the credit services provider’s stock after selling 30,529 shares during the period. Trek Financial LLC’s holdings in PayPal were worth $7,345,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in shares of PayPal by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider’s stock worth $1,849,884,000 after buying an additional 271,836 shares during the last quarter. FMR LLC raised its stake in PayPal by 12.9% during the 4th quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock valued at $1,615,134,000 after purchasing an additional 2,161,582 shares during the last quarter. Norges Bank bought a new stake in PayPal in the 4th quarter valued at $1,086,508,000. Artisan Partners Limited Partnership grew its position in PayPal by 284.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock worth $666,100,000 after purchasing an additional 5,772,198 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of PayPal by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,615,476 shares of the credit services provider’s stock worth $564,631,000 after purchasing an additional 84,337 shares during the period. Institutional investors own 68.32% of the company’s stock.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of recent research reports. Piper Sandler decreased their target price on PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a report on Wednesday, February 26th. Wells Fargo & Company restated an “equal weight” rating on shares of PayPal in a research note on Wednesday, February 5th. Bank of America upgraded shares of PayPal from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $86.00 to $103.00 in a research note on Monday, December 9th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of PayPal in a report on Thursday, December 12th. Fifteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $89.13.

Insider Transactions at PayPal

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now owns 29,734 shares of the company’s stock, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company’s stock.

PayPal Trading Down 5.4 %

Shares of NASDAQ PYPL opened at $58.37 on Friday. PayPal Holdings, Inc. has a fifty-two week low of $56.97 and a fifty-two week high of $93.66. The firm has a market capitalization of $57.74 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The company’s 50 day simple moving average is $73.65 and its 200 day simple moving average is $80.58.

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