MainStreet Investment Advisors LLC Cuts Stock Position in PayPal Holdings, Inc. (NASDAQ:PYPL)

MainStreet Investment Advisors LLC cut its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 5.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,005 shares of the credit services provider’s stock after selling 407 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in PayPal were worth $598,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Relyea Zuckerberg Hanson LLC increased its position in shares of PayPal by 113.8% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after buying an additional 3,976 shares in the last quarter. J. Goldman & Co LP increased its position in shares of PayPal by 11.9% in the fourth quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider’s stock valued at $22,304,000 after buying an additional 27,812 shares in the last quarter. Nikko Asset Management Americas Inc. increased 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 valued at $59,489,000 after buying an additional 18,172 shares in the last quarter. ExodusPoint Capital Management LP increased its position in shares of PayPal by 223.1% in the fourth quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock valued at $22,622,000 after buying an additional 183,011 shares in the last quarter. Finally, StoneX Group Inc. increased its position in shares of PayPal by 70.4% in the fourth quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock valued at $2,326,000 after buying an additional 11,260 shares in the last quarter. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Performance

Shares of PayPal stock opened at $72.29 on Wednesday. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66. The business’s fifty day simple moving average is $65.79 and its 200-day simple moving average is $77.57. The firm has a market cap of $70.30 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.27 and a beta of 1.51. 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 (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, April 29th. The credit services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.84 billion. During the same quarter in the prior year, the company posted $1.08 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. Equities analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on PYPL. Keefe, Bruyette & Woods cut their price objective on PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, March 31st. Macquarie cut their price objective on PayPal from $117.00 to $95.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research report on Wednesday, April 30th. Bank of America dropped their price target on PayPal from $103.00 to $93.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Barclays dropped their price target on PayPal from $110.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.68.

Insider Activity

In other news, Director Gail J. Mcgovern sold 2,446 shares of the company’s 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 of the company’s stock, valued at $2,145,308.10. This represents a 7.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

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.