Evanson Asset Management LLC Sells 266 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Evanson Asset Management LLC cut its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,720 shares of the credit services provider’s stock after selling 266 shares during the period. Evanson Asset Management LLC’s holdings in PayPal were worth $373,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. J. Goldman & Co LP lifted its holdings in PayPal by 11.9% during the fourth quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider’s stock worth $22,304,000 after acquiring an additional 27,812 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its holdings 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 purchasing an additional 18,172 shares in the last quarter. ExodusPoint Capital Management LP lifted its holdings 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 purchasing an additional 183,011 shares in the last quarter. StoneX Group Inc. lifted its holdings 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 purchasing an additional 11,260 shares in the last quarter. Finally, Ring Mountain Capital LLC bought a new stake in shares of PayPal in the fourth quarter valued at about $581,000. 68.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on PYPL shares. Morgan Stanley boosted their price target on PayPal from $79.00 to $80.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. Citigroup cut their price target on PayPal from $98.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, May 6th. Bank of America cut their price target on PayPal from $103.00 to $93.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Arete Research set a $81.00 target price on PayPal in a report on Thursday, March 27th. Finally, Robert W. Baird upped their target price on PayPal from $78.00 to $79.00 and gave the stock an “outperform” rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $83.29.

Insider Transactions at PayPal

In related news, insider Suzan Kereere sold 4,162 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $73.24, for a total value of $304,824.88. Following the completion of the sale, the insider now directly owns 48,483 shares in the company, valued at $3,550,894.92. This represents a 7.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Deborah M. Messemer sold 3,795 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $73.00, for a total value of $277,035.00. Following the completion of the sale, the director now owns 13,976 shares of the company’s stock, valued at $1,020,248. The trade was a 21.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,796 shares of company stock worth $863,028. Corporate insiders own 0.08% of the company’s stock.

PayPal Trading Up 2.2%

Shares of NASDAQ:PYPL opened at $70.05 on Friday. PayPal Holdings, Inc. has a 12-month low of $55.85 and a 12-month high of $93.66. The stock has a market cap of $68.13 billion, a PE ratio of 15.67, a P/E/G ratio of 1.13 and a beta of 1.45. The business has a 50 day moving average of $68.98 and a 200-day moving average of $75.26. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.56.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $7.84 billion. During the same period in the previous year, the company posted $1.08 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current 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.