Clifford Swan Investment Counsel LLC lowered its stake in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 2.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 187,738 shares of the credit services provider’s stock after selling 4,556 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in PayPal were worth $13,953,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Gordian Capital Singapore Pte Ltd lifted its holdings in PayPal by 41.2% during the 1st quarter. Gordian Capital Singapore Pte Ltd now owns 473 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 138 shares in the last quarter. GSB Wealth Management LLC increased its position in shares of PayPal by 1.7% during the second quarter. GSB Wealth Management LLC now owns 8,160 shares of the credit services provider’s stock valued at $606,000 after buying an additional 140 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of PayPal by 1.5% in the first quarter. CreativeOne Wealth LLC now owns 9,387 shares of the credit services provider’s stock worth $613,000 after buying an additional 142 shares in the last quarter. Pitti Group Wealth Management LLC boosted its position in shares of PayPal by 1.5% in the second quarter. Pitti Group Wealth Management LLC now owns 10,233 shares of the credit services provider’s stock valued at $761,000 after acquiring an additional 147 shares during the period. Finally, MONECO Advisors LLC boosted its position in shares of PayPal by 0.8% in the first quarter. MONECO Advisors LLC now owns 20,450 shares of the credit services provider’s stock valued at $1,334,000 after acquiring an additional 154 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.
PayPal Stock Down 2.8%
Shares of PYPL opened at $68.07 on Thursday. PayPal Holdings, Inc. has a 1 year low of $55.85 and a 1 year high of $93.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a 50 day simple moving average of $68.92 and a two-hundred day simple moving average of $69.59. The firm has a market cap of $65.03 billion, a P/E ratio of 14.54, a P/E/G ratio of 1.08 and a beta of 1.44.
Insider Activity
In other news, EVP Diego Scotti sold 3,838 shares of the firm’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $69.12, for a total transaction of $265,282.56. Following the transaction, the executive vice president directly owned 16,989 shares of the company’s stock, valued at approximately $1,174,279.68. This trade represents a 18.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Chris Natali sold 7,102 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $69.35, for a total value of $492,523.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,102 shares of company stock valued at $1,046,607. 0.08% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Sanford C. Bernstein lowered their target price on shares of PayPal from $85.00 to $76.00 in a research note on Tuesday. The Goldman Sachs Group set a $70.00 price target on PayPal and gave the company a “sell” rating in a research report on Monday, October 13th. Morgan Stanley restated a “positive” rating on shares of PayPal in a research report on Wednesday, July 30th. Seaport Res Ptn raised shares of PayPal from a “strong sell” rating to a “hold” rating in a research note on Monday, July 14th. Finally, Citigroup started coverage on shares of PayPal in a research note on Wednesday. They issued a “neutral” rating and a $78.00 price target for the company. Fifteen investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, PayPal presently has an average rating of “Hold” and a consensus price target of $82.57.
Read Our Latest Research Report on PayPal
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.
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