Legacy Financial Advisors Inc. Lowers Stake in PayPal Holdings, Inc. (NASDAQ:PYPL)

Legacy Financial Advisors Inc. trimmed its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 8.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,998 shares of the credit services provider’s stock after selling 698 shares during the period. Legacy Financial Advisors Inc.’s holdings in PayPal were worth $683,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Continuum Advisory LLC increased its holdings in shares of PayPal by 285.8% in the third quarter. Continuum Advisory LLC now owns 760 shares of the credit services provider’s stock valued at $65,000 after purchasing an additional 563 shares during the period. Coldstream Capital Management Inc. grew its position in PayPal by 17.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 14,407 shares of the credit services provider’s stock valued at $1,139,000 after buying an additional 2,178 shares during the last quarter. Toronto Dominion Bank increased its stake in PayPal by 7.8% in the 3rd quarter. Toronto Dominion Bank now owns 573,196 shares of the credit services provider’s stock valued at $44,726,000 after buying an additional 41,345 shares during the period. Sunbelt Securities Inc. raised its position in PayPal by 10.6% during the 3rd quarter. Sunbelt Securities Inc. now owns 22,480 shares of the credit services provider’s stock worth $1,754,000 after buying an additional 2,146 shares during the last quarter. Finally, Virtue Capital Management LLC acquired a new stake in shares of PayPal in the 3rd quarter worth $202,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Sunday, April 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Evercore ISI began coverage on PayPal in a report on Wednesday. They issued an “in-line” rating and a $65.00 price target for the company. Barclays lifted their price target on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Citigroup reiterated an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. Fifteen investment 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.32.

PayPal Stock Down 5.3 %

Shares of NASDAQ:PYPL opened at $60.56 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. The firm has a market cap of $59.91 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.27 and a beta of 1.60. The stock’s 50-day moving average price is $70.19 and its two-hundred day moving average price is $79.87. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66.

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, topping the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $8.37 billion for the quarter, compared to analysts’ expectations of $8.27 billion. During the same period last year, the company earned $1.48 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction 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 transaction, the director now owns 29,734 shares in the company, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.

PayPal 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.