PayPal Holdings, Inc. (NASDAQ:PYPL) Shares Sold by Costello Asset Management INC

Costello Asset Management INC cut its stake in PayPal Holdings, Inc. (NASDAQ:PYPL) by 40.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,427 shares of the credit services provider’s stock after selling 7,893 shares during the period. Costello Asset Management INC’s holdings in PayPal were worth $746,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PYPL. J. Goldman & Co LP lifted its stake in shares of PayPal by 11.9% in the 4th quarter. J. Goldman & Co LP now owns 261,322 shares of the credit services provider’s stock valued at $22,304,000 after purchasing an additional 27,812 shares in the last quarter. Proffitt & Goodson Inc. purchased a new position in PayPal in the first quarter valued at approximately $535,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in PayPal by 17.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,634,664 shares of the credit services provider’s stock valued at $651,619,000 after buying an additional 1,114,858 shares during the period. Allianz SE lifted its position in PayPal by 281.8% during the first quarter. Allianz SE now owns 30,338 shares of the credit services provider’s stock valued at $1,980,000 after buying an additional 22,392 shares in the last quarter. Finally, Triglav Skladi D.O.O. purchased a new stake in PayPal during the fourth quarter worth approximately $939,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

PayPal Stock Up 1.3%

Shares of PayPal stock opened at $68.01 on Tuesday. The business has a 50-day moving average price of $73.10 and a 200 day moving average price of $72.01. PayPal Holdings, Inc. has a fifty-two week low of $55.85 and a fifty-two week high of $93.66. The firm has a market cap of $64.98 billion, a P/E ratio of 14.53, a P/E/G ratio of 1.03 and a beta of 1.42. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.56.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 29th. The credit services provider reported $1.40 EPS for the quarter, topping the consensus estimate of $1.30 by $0.10. The company had revenue of $8.29 billion during the quarter, compared to analyst estimates of $8.08 billion. PayPal had a return on equity of 25.35% and a net margin of 14.49%. During the same quarter last year, the firm earned $1.19 EPS. On average, sell-side analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Buying and Selling at PayPal

In other PayPal news, 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 transaction of $277,035.00. Following the sale, the director directly owned 13,976 shares of the company’s stock, valued at approximately $1,020,248. This represents a 21.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Diego Scotti sold 3,839 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president owned 16,989 shares in the company, valued at approximately $1,244,274.36. The trade was a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 22,736 shares of company stock worth $1,620,835. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Robert W. Baird raised their target price on shares of PayPal from $78.00 to $79.00 and gave the company an “outperform” rating in a research note on Wednesday, April 30th. Needham & Company LLC reissued a “hold” rating on shares of PayPal in a research report on Wednesday, April 30th. Evercore ISI initiated coverage on PayPal in a research note on Wednesday, April 9th. They set an “in-line” rating and a $65.00 price objective on the stock. Monness Crespi & Hardt lowered their target price on PayPal from $120.00 to $90.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Piper Sandler set a $74.00 price target on PayPal in a research report on Tuesday, July 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, nineteen 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 a consensus rating of “Moderate Buy” and a consensus price target of $84.57.

PayPal 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.