Highland Capital Management LLC Sells 8,259 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Highland Capital Management LLC decreased its holdings in PayPal Holdings, Inc. (NASDAQ:PYPL) by 7.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 103,182 shares of the credit services provider’s stock after selling 8,259 shares during the quarter. Highland Capital Management LLC’s holdings in PayPal were worth $6,336,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bartlett & Co. LLC boosted its stake in shares of PayPal by 8.5% in the fourth quarter. Bartlett & Co. LLC now owns 9,414 shares of the credit services provider’s stock worth $594,000 after acquiring an additional 740 shares during the period. Sunbelt Securities Inc. boosted its stake in PayPal by 4.9% during the third quarter. Sunbelt Securities Inc. now owns 20,242 shares of the credit services provider’s stock valued at $1,183,000 after buying an additional 942 shares during the last quarter. First Hawaiian Bank boosted its stake in PayPal by 8.6% during the fourth quarter. First Hawaiian Bank now owns 6,936 shares of the credit services provider’s stock valued at $426,000 after buying an additional 552 shares during the last quarter. Litman Gregory Wealth Management LLC bought a new position in PayPal during the third quarter valued at approximately $8,639,000. Finally, Hudson Bay Capital Management LP bought a new position in PayPal during the third quarter valued at approximately $5,261,000. Institutional investors own 68.32% of the company’s stock.

PayPal Stock Down 0.1 %

PayPal stock opened at $66.57 on Thursday. The stock has a market capitalization of $71.35 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 1.51 and a beta of 1.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.29 and a quick ratio of 1.29. The business has a fifty day moving average price of $61.32 and a 200-day moving average price of $59.36. PayPal Holdings, Inc. has a 1-year low of $50.25 and a 1-year high of $77.95.

PayPal (NASDAQ:PYPL) last issued its earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.12. The company had revenue of $8.03 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. Equities research analysts forecast that PayPal Holdings, Inc. will post 3.95 EPS for the current fiscal year.

Insider Buying and Selling

In other PayPal news, SVP Frank Keller sold 7,686 shares of PayPal stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the transaction, the senior vice president now owns 23,430 shares in the company, valued at approximately $1,420,795.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on PYPL shares. BMO Capital Markets dropped their price target on PayPal from $65.00 to $60.00 and set a “market perform” rating for the company in a research note on Thursday, February 8th. Argus downgraded PayPal from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Mizuho decreased their price objective on PayPal from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Thursday, February 8th. Susquehanna upped their price objective on PayPal from $61.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $74.00 price objective on shares of PayPal in a research report on Thursday, March 21st. Twenty-three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, PayPal has an average rating of “Hold” and a consensus target price of $70.47.

PayPal Company 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.