Institute for Wealth Management LLC. Decreases Holdings in PayPal Holdings, Inc. (NASDAQ:PYPL)

Institute for Wealth Management LLC. lessened its position in PayPal Holdings, Inc. (NASDAQ:PYPL) by 0.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 38,519 shares of the credit services provider’s stock after selling 257 shares during the quarter. Institute for Wealth Management LLC.’s holdings in PayPal were worth $2,513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Johnson Investment Counsel Inc. lifted its stake in PayPal by 66.8% in the 1st quarter. Johnson Investment Counsel Inc. now owns 9,695 shares of the credit services provider’s stock worth $633,000 after purchasing an additional 3,882 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of PayPal by 1.5% during the 1st quarter. State of Alaska Department of Revenue now owns 115,967 shares of the credit services provider’s stock worth $7,566,000 after purchasing an additional 1,680 shares during the period. CWA Asset Management Group LLC boosted its stake in PayPal by 13.3% during the first quarter. CWA Asset Management Group LLC now owns 6,803 shares of the credit services provider’s stock worth $444,000 after buying an additional 797 shares during the period. Kingswood Wealth Advisors LLC increased its holdings in PayPal by 50.5% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 11,861 shares of the credit services provider’s stock valued at $781,000 after purchasing an additional 3,980 shares during the last quarter. Finally, Roman Butler Fullerton & Co. grew its stake in shares of PayPal by 2.3% in the first quarter. Roman Butler Fullerton & Co. now owns 9,654 shares of the credit services provider’s stock valued at $599,000 after buying an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company’s stock.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 3,795 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.00, for a total transaction of $277,035.00. Following the completion of the sale, the director now owns 13,976 shares of the company’s stock, valued at approximately $1,020,248. The trade was a 21.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Diego Scotti sold 3,839 shares of the business’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $281,168.36. Following the sale, the executive vice president now owns 16,989 shares of the company’s stock, valued at $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 three months, insiders sold 11,796 shares of company stock valued at $863,028. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

PYPL has been the topic of several recent research reports. Keefe, Bruyette & Woods cut their target price on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, March 31st. Canaccord Genuity Group reiterated a “buy” rating and issued a $96.00 price objective on shares of PayPal in a report on Wednesday, April 30th. Piper Sandler cut their price target on shares of PayPal from $76.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Arete Research set a $81.00 price target on PayPal in a research report on Thursday, March 27th. Finally, UBS Group reduced their target price on shares of PayPal from $88.00 to $75.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $83.29.

PayPal Price Performance

Shares of NASDAQ PYPL opened at $68.57 on Thursday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.56. The stock has a market cap of $66.69 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 1.17 and a beta of 1.45. The company’s 50-day moving average price is $68.67 and its 200 day moving average price is $75.48. PayPal Holdings, Inc. has a 52 week low of $55.85 and a 52 week high of $93.66.

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 the consensus estimate of $1.16 by $0.17. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The business had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.84 billion. During the same period in the prior year, the business earned $1.08 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

About PayPal

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.