Scotia Capital Inc. Sells 31,526 Shares of PayPal Holdings, Inc. (NASDAQ:PYPL)

Scotia Capital Inc. reduced its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPLFree Report) by 15.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 175,821 shares of the credit services provider’s stock after selling 31,526 shares during the quarter. Scotia Capital Inc.’s holdings in PayPal were worth $10,797,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in PYPL. Jump Financial LLC lifted its holdings in PayPal by 18.8% during the 3rd quarter. Jump Financial LLC now owns 14,895 shares of the credit services provider’s stock worth $871,000 after purchasing an additional 2,361 shares during the last quarter. Community Financial Services Group LLC bought a new stake in shares of PayPal during the 3rd quarter valued at $421,000. Merit Financial Group LLC lifted its position in shares of PayPal by 1,091.8% during the 3rd quarter. Merit Financial Group LLC now owns 61,534 shares of the credit services provider’s stock valued at $3,597,000 after acquiring an additional 56,371 shares during the period. Qsemble Capital Management LP bought a new stake in shares of PayPal during the 3rd quarter valued at $403,000. Finally, Keybank National Association OH lifted its position in shares of PayPal by 3.4% during the 3rd quarter. Keybank National Association OH now owns 23,359 shares of the credit services provider’s stock valued at $1,366,000 after acquiring an additional 768 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total transaction of $272,616.30. Following the sale, the director now owns 13,976 shares in the company, valued at approximately $861,620.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

PayPal Trading Up 0.8 %

Shares of PYPL stock traded up $0.48 on Friday, hitting $62.99. The company had a trading volume of 14,269,038 shares, compared to its average volume of 9,190,342. The firm has a market cap of $65.89 billion, a P/E ratio of 15.87, a P/E/G ratio of 1.03 and a beta of 1.41. The stock’s 50-day moving average is $64.54 and its two-hundred day moving average is $61.87. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. PayPal Holdings, Inc. has a twelve month low of $50.25 and a twelve month high of $76.54.

PayPal (NASDAQ:PYPLGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). The company had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 EPS. On average, equities research analysts anticipate that PayPal Holdings, Inc. will post 4.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PYPL. Canaccord Genuity Group cut their target price on PayPal from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, February 8th. Monness Crespi & Hardt upped their target price on PayPal from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, April 29th. Sanford C. Bernstein upped their target price on PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. DZ Bank downgraded PayPal from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a research report on Friday, February 9th. Finally, Wells Fargo & Company upped their target price on PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Twenty-one equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $73.59.

View Our Latest Report on PYPL

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.

See Also

Want to see what other hedge funds are holding PYPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PayPal Holdings, Inc. (NASDAQ:PYPLFree Report).

Institutional Ownership by Quarter for PayPal (NASDAQ:PYPL)

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