Argent Trust Co Lowers Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Argent Trust Co reduced its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,689 shares of the credit services provider’s stock after selling 4,374 shares during the quarter. Argent Trust Co’s holdings in PayPal were worth $2,790,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of PYPL. Relyea Zuckerberg Hanson LLC lifted its stake in shares of PayPal by 113.8% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after purchasing an additional 3,976 shares during the period. Nikko Asset Management Americas Inc. raised its position in shares of PayPal by 2.7% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock worth $59,489,000 after acquiring an additional 18,172 shares during the period. ExodusPoint Capital Management LP boosted its stake in shares of PayPal by 223.1% during the 4th quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock worth $22,622,000 after acquiring an additional 183,011 shares in the last quarter. StoneX Group Inc. increased its stake in shares of PayPal by 70.4% in the 4th quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock valued at $2,326,000 after purchasing an additional 11,260 shares in the last quarter. Finally, Fortem Financial Group LLC increased its position in shares of PayPal by 28.0% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insider Activity at PayPal

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 completion of the transaction, the director now owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.

PayPal Trading Down 5.3 %

Shares of PayPal stock opened at $60.56 on Friday. The firm has a market cap of $59.91 billion, a PE ratio of 15.10, a P/E/G ratio of 1.27 and a beta of 1.60. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The business’s fifty day moving average is $70.19 and its two-hundred day moving average is $79.87.

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PYPL. BTIG Research reiterated a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price target on shares of PayPal in a research report on Thursday, December 12th. Morgan Stanley raised their price objective on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Robert W. Baird reduced their target price on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Finally, Monness Crespi & Hardt dropped their price target on shares of PayPal from $120.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $88.32.

PayPal Company Profile

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.