Evergreen Wealth Management LLC Sells 1,753 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Evergreen Wealth Management LLC cut its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL) by 4.8% in the first quarter, Holdings Channel reports. The fund owned 34,613 shares of the credit services provider’s stock after selling 1,753 shares during the period. PayPal comprises approximately 1.3% of Evergreen Wealth Management LLC’s holdings, making the stock its 26th biggest position. Evergreen Wealth Management LLC’s holdings in PayPal were worth $2,259,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PYPL. Geode Capital Management LLC raised its holdings in shares of PayPal by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 21,736,394 shares of the credit services provider’s stock valued at $1,849,884,000 after buying an additional 271,836 shares during the last quarter. FMR LLC raised its holdings in shares of PayPal by 12.9% in the fourth quarter. FMR LLC now owns 18,923,662 shares of the credit services provider’s stock valued at $1,615,134,000 after buying an additional 2,161,582 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of PayPal by 108.2% in the fourth quarter. Capital Research Global Investors now owns 17,924,106 shares of the credit services provider’s stock valued at $1,529,823,000 after buying an additional 9,313,783 shares during the last quarter. Norges Bank bought a new stake in PayPal during the 4th quarter worth about $1,086,508,000. Finally, Northern Trust Corp raised its holdings in PayPal by 19.0% during the 4th quarter. Northern Trust Corp now owns 10,462,251 shares of the credit services provider’s stock worth $892,953,000 after purchasing an additional 1,669,908 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

PayPal Stock Down 0.3%

Shares of PayPal stock traded down $0.22 on Friday, reaching $73.64. 801,049 shares of the company were exchanged, compared to its average volume of 10,840,703. PayPal Holdings, Inc. has a one year low of $55.85 and a one year high of $93.66. The company has a market capitalization of $71.62 billion, a price-to-earnings ratio of 16.49, a PEG ratio of 1.19 and a beta of 1.45. 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 company has a 50-day moving average of $72.67 and a 200 day moving average of $73.38.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, April 29th. The credit services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.17. PayPal had a return on equity of 24.59% and a net margin of 14.26%. The company had revenue of $7.79 billion for the quarter, compared to analysts’ expectations of $7.84 billion. During the same quarter in the prior year, the business posted $1.08 EPS. The business’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Wall Street Analyst Weigh In

PYPL has been the subject of several analyst reports. Compass Point initiated coverage on shares of PayPal in a research report on Wednesday, April 23rd. They set a “sell” rating and a $56.00 price target for the company. Seaport Res Ptn upgraded shares of PayPal from a “strong sell” rating to a “hold” rating in a research report on Monday. Barclays lowered their price target on shares of PayPal from $110.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, April 15th. BMO Capital Markets lowered their price target on PayPal from $83.00 to $79.00 and set a “market perform” rating for the company in a research note on Wednesday, April 30th. Finally, Monness Crespi & Hardt lowered their price target on PayPal from $120.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal currently has an average rating of “Hold” and an average price target of $82.81.

Insider Activity at PayPal

In related news, EVP Diego Scotti sold 3,839 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 $281,168.36. Following the sale, the executive vice president owned 16,989 shares in the company, valued at approximately $1,244,274.36. This represents a 18.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 owned 13,976 shares in the company, valued at approximately $1,020,248. This trade represents a 21.36% 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. Company insiders own 0.08% of the company’s stock.

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.