Spire Wealth Management Sells 2,694 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Spire Wealth Management lowered its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 49.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,776 shares of the credit services provider’s stock after selling 2,694 shares during the quarter. Spire Wealth Management’s holdings in PayPal were worth $183,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Morgan Stanley raised its stake in shares of PayPal by 4.5% in the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after acquiring an additional 873,181 shares during the period. Northern Trust Corp raised its stake in shares of PayPal by 0.7% in the third quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock valued at $687,902,000 after acquiring an additional 78,105 shares during the period. FMR LLC raised its stake in shares of PayPal by 29.5% in the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after acquiring an additional 1,575,930 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of PayPal by 4.6% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,906,516 shares of the credit services provider’s stock valued at $286,835,000 after acquiring an additional 215,835 shares during the period. Finally, Atreides Management LP raised its stake in shares of PayPal by 9.3% in the third quarter. Atreides Management LP now owns 4,174,520 shares of the credit services provider’s stock valued at $244,042,000 after acquiring an additional 355,411 shares during the period. Institutional investors own 68.32% of the company’s stock.

PayPal Trading Down 2.4 %

PayPal stock opened at $62.93 on Friday. The stock has a market cap of $65.83 billion, a PE ratio of 15.85, a P/E/G ratio of 1.13 and a beta of 1.41. The stock has a 50-day moving average price of $64.13 and a 200 day moving average price of $60.83. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $76.54. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPLGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Equities research analysts predict that PayPal Holdings, Inc. will post 4.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PayPal news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PYPL. Wells Fargo & Company increased their target price on shares of PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of PayPal from $75.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, February 8th. BMO Capital Markets raised their price target on shares of PayPal from $64.00 to $65.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 1st. UBS Group raised their price target on shares of PayPal from $63.00 to $71.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Canaccord Genuity Group reduced their price target on shares of PayPal from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, February 8th. Twenty-four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $72.73.

Read Our Latest Research Report on PayPal

About PayPal

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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