Handelsbanken Fonder AB Sells 61,414 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Handelsbanken Fonder AB trimmed its position in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 15.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 333,731 shares of the credit services provider’s stock after selling 61,414 shares during the period. Handelsbanken Fonder AB’s holdings in PayPal were worth $21,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PYPL. Simplicity Wealth LLC bought a new position in PayPal in the first quarter worth about $253,000. Signet Financial Management LLC raised its stake in PayPal by 2.8% in the first quarter. Signet Financial Management LLC now owns 35,622 shares of the credit services provider’s stock worth $2,324,000 after buying an additional 974 shares in the last quarter. Objectivity Squared LLC raised its stake in PayPal by 5.7% in the first quarter. Objectivity Squared LLC now owns 4,455 shares of the credit services provider’s stock worth $279,000 after buying an additional 241 shares in the last quarter. Octavia Wealth Advisors LLC raised its stake in PayPal by 28.1% in the first quarter. Octavia Wealth Advisors LLC now owns 3,252 shares of the credit services provider’s stock worth $212,000 after buying an additional 713 shares in the last quarter. Finally, Tounjian Advisory Partners LLC bought a new position in PayPal in the first quarter worth about $589,000. 68.32% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PYPL shares. Evercore ISI started coverage on shares of PayPal in a report on Wednesday, April 9th. They issued an “in-line” rating and a $65.00 price objective on the stock. Piper Sandler cut their price objective on shares of PayPal from $76.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Keefe, Bruyette & Woods cut their price objective on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, March 31st. Macquarie cut their price objective on shares of PayPal from $117.00 to $95.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $96.00 price objective on shares of PayPal in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $83.29.

Insider Activity at PayPal

In other PayPal news, insider Suzan Kereere sold 4,162 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.24, for a total value of $304,824.88. Following the sale, the insider now owns 48,483 shares in the company, valued at $3,550,894.92. The trade was a 7.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Diego Scotti sold 3,839 shares of the business’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total transaction of $281,168.36. Following the completion of the sale, the executive vice president now owns 16,989 shares in the company, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,796 shares of company stock worth $863,028. 0.14% of the stock is owned by corporate insiders.

PayPal Trading Down 0.2%

Shares of PYPL stock opened at $74.61 on Thursday. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The firm has a fifty day moving average price of $67.55 and a 200-day moving average price of $76.02. 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 has a market cap of $72.56 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.27 and a beta of 1.45.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.17. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.84 billion. During the same quarter in the previous year, the firm posted $1.08 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

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.