Traders Sell Shares of Paypal (PYPL) on Strength Following Analyst Downgrade

Traders sold shares of Paypal Holdings Inc (NASDAQ:PYPL) on strength during trading hours on Friday after SunTrust Banks lowered their price target on the stock to $88.00. $581.18 million flowed into the stock on the tick-up and $661.78 million flowed out of the stock on the tick-down, for a money net flow of $80.60 million out of the stock. Of all equities tracked, Paypal had the 0th highest net out-flow for the day. Paypal traded up $7.30 for the day and closed at $84.78

Other equities research analysts have also recently issued reports about the company. Robert W. Baird increased their price objective on Paypal from $88.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. BTIG Research raised Paypal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $81.00 to $95.00 in a research report on Friday. Stephens reissued a “buy” rating and issued a $91.00 price objective on shares of Paypal in a research report on Friday, July 13th. Oppenheimer increased their price objective on Paypal from $90.00 to $95.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Finally, Cantor Fitzgerald increased their price objective on Paypal to $98.00 and gave the company an “overweight” rating in a research report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirty-four have issued a buy rating to the company’s stock. Paypal has an average rating of “Buy” and a consensus price target of $92.65.

In other Paypal news, COO William J. Ready sold 38,878 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $3,429,817.16. Following the completion of the transaction, the chief operating officer now directly owns 119,215 shares in the company, valued at $10,517,147.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel H. Schulman sold 26,000 shares of the stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $82.46, for a total value of $2,143,960.00. Following the transaction, the insider now owns 338,506 shares of the company’s stock, valued at $27,913,204.76. The disclosure for this sale can be found here. Insiders sold 149,732 shares of company stock valued at $13,204,157 over the last 90 days. 0.20% of the stock is currently owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the business. Archford Capital Strategies LLC raised its stake in Paypal by 92.6% during the second quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock worth $108,000 after acquiring an additional 625 shares in the last quarter. Landaas & Co. WI ADV acquired a new position in Paypal during the second quarter worth $135,000. Adviser Investments LLC raised its stake in Paypal by 165.3% during the second quarter. Adviser Investments LLC now owns 1,653 shares of the credit services provider’s stock worth $138,000 after acquiring an additional 1,030 shares in the last quarter. Itau Unibanco Holding S.A. raised its stake in Paypal by 50.8% during the second quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock worth $142,000 after acquiring an additional 580 shares in the last quarter. Finally, ELM Advisors LLC acquired a new position in Paypal during the third quarter worth $149,000. Hedge funds and other institutional investors own 79.71% of the company’s stock.

The company has a market cap of $94.80 billion, a price-to-earnings ratio of 60.45, a price-to-earnings-growth ratio of 2.60 and a beta of 1.31.

Paypal (NASDAQ:PYPL) last announced its earnings results on Thursday, October 18th. The credit services provider reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.04. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.66 billion. During the same period last year, the company posted $0.46 earnings per share. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. Analysts anticipate that Paypal Holdings Inc will post 1.74 earnings per share for the current fiscal year.

About Paypal (NASDAQ:PYPL)

PayPal Holdings, Inc operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

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